ECONOMIC INDICATORS
Employment
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Total Downtown Labor Force
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12,553
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County Labor Force
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128,670
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County Unemployment Rate
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8.7% (Upjohn Institute for Employment Research)
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Largest Downtown Employers
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Pfizer, Bronson Healthcare Group, City of Kalamazoo, Radisson Hotel, Healthcare Midwest, AT&T, County of Kalamazoo
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Cost of Living Index
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95.2
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Downtown Development
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Average Retail Square Foot Cost
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• Class A
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$13-$17 NNN
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• Class B
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$10-$13 NNN
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Current Total Retail Square Feet
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938,682
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Current Number of Retailers
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156
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Average Office Square Foot Cost
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• Class A
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$15-$18 NNN
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• Class B
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$11-$15 NNN
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Traffic Counts
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| Michigan Avenue (eastbound, one way) |
17,000 |
| Kalamazoo Avenue (westbound, one way) |
14,500 |
| Park Street (northbound, one way) |
10,200 |
| Westnedge Avenue (southbound, one way) |
14,300 |
Source: MDOT, 2011
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Vacancy Rates (as of July, 2011)
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Retail
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10.4%
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Office
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13%
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Residential
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1.9%
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Attractions in Downtown Kalamazoo
Four-Star Radisson Plaza Hotel & Restaurant (800,000 visitors annually)
Epic Center (100,000 visitors annually)
Kalamazoo Valley Community College (5,000 students downtown)
Kalamazoo Valley Museum (130,000+ visitors annually)
Kalamazoo Library (1,000,000+ visitors annually)
Downtown Festivals and Arcadia Festival Site (450,000 visitors annually)
Major News Annoucements
Kalamazoo Gazette, December 8, 2011
Downtown Kalamazoo Inc. is pleased with possibilities as Phoenix Properties plans to convert Gazette Building
Kalamazoo Gazette, February 8, 2012