QUARTERLY ECONOMIC REPORT QUARTER 1 2018 Smart Choice

Creating Opportunities for Local EntrepreneursEach spring Iowa State Universityrsquos (ISU) most determined entrepreneurs enter a competative selection process to what has become the cornerstone entrepreneurial program for students in the Ames area CyStarters is a 10-week accelerator that is open to all ISU students and recent graduates

The goal of the program is to grant students the time and resources they need to get their business ideas off the ground CyStarters provides grant winners with mentorship accountability workspace and funding for up to $13000

With opportunity (and money) on the line the selection process can get rather competitive This year only 15 teams were selected to participate in the program These startups were given opportunities to make connections through Startup Ames an affiliate of the Ames Chamber of Commerce in order to solve a wide range of issues both local and worldwide

Startup Ames describes themselves as an initiative led by community innovators to connect local entrepreneurs in the effort to foster a robust community Their articulated goal is to establish fertile ground to launch new businesses in Ames and Story County by utilizing a unique vision involving the community encouraging entrepreneurship and maintaining a flourishing culture Through these avenues they hope to inspire entrepreneurs to participate in events and activities which gain them exposure throughout the community

Startup Ames also identifies new opportunities for collaboration business creation and growth They strive to continuously improve and provide exciting opportunities for new businesses and teams Through their efforts new ideas are generated refined and validated by a true startup ecosystem encompassing the entire community

Startup Amesrsquo specific contribution to the CyStarters Program is characterized by mentorship and guidance because the Startup Ames associates are known throughout the community as leaders in the field They all work with or in startup businesses and have unique experience expertise and insight on starting and growing successful businesses The Ames Chamber of Commerce has always recognized entrepreneurs and business leaders as some of the most important resources for a growing community Through its collaboration and partnership to grow the ISU Research Park the ISU Pappajohn Center for Entrepreneurship CyStarters and their newest affiliate Startup Ames the Ames Chamber of Commerce is and will remain committed to helping local entrepreneurs move their projects and ambitions forward

In The News

QUARTERLY ECONOMIC REPORT

FIRST QUARTER 2018

Volume 12 Issue 1 | January 2018 - April 2018 | Published June 2018

01emsp IN THE NEWSemspemspensp   Creating Opportunities emspemspemspthinsp for Local Entrepreneurs

02emsp LOCAL WORKFORCEemspemspenspthinsp Local Workforce Summary emspemspemspthinsp First Quarter 2018

02emsp RETAIL SALES  thinspKey Retail Indicators for emspemspemspAmes amp Story County

03emsp HOUSINGemspemspenspthinsp Residential Housing emspemspemspthinsp Sales emspemspemspthinsp Housing Units Building emspemspemspthinsp Permits

emspemspemspthinsp Residential Sales Detail

04emsp COST OF LIVING emspemsp COMPARISONemspemspemspthinsp Q1 2018 Data

INSIDE THIS ISSUE

Ames Economic Development Commission

AmesEDC

wwwAmesEDCcom

QUARTERLY ECONOMIC REPORT QUARTER 1 2018 2

Local Workforce

FIRST QUARTER 2018

Local Workforce Summary April 2018 (not seasonally adjusted)Total Workforce Total Employed Total Unemployed Unemployment Rate

Ames April 2018 40900 40300 600 14Ames April 2017 40200 39600 600 15Ames April 2013 37400 36400 1000 28

Story County April 2018 59300 58400 900 15Story County April 2017 58200 57200 100 17Story County April 2013 55400 53700 1700 31

Source Iowa Workforce Development Retrieved June 2018

Retail Sales Key Retail Indicators for Ames and Story County

Source Retail Trade Analysis Report Fiscal Year 2017 Issued April 2018 Iowa State University Department of Economics Retrieved June 2018

Ames

Story County

FIRST QUARTER 2018

Housing

QUARTERLY ECONOMIC REPORT QUARTER 1 2018 3

Residential Housing Sales - Quarter 1 2017 vs Quarter 1 2018

Q1 2017 vs Q1 2018Comparison

Q1 2017Average

Price

Q1 2018 Average

Price

Change

of Sales Transactions

Q1 2017

of Sales Transactions

Q1 2018

Change

2017Median

Price

2018Median

Price

Change

Ames amp Rural Ames subdivisions $242918 $246425 +14 100 105 +50 $225500 $220000 -24

Story County excluding Ames amp rural

Ames subdivisions$158875 $182198 +149 51 39 -235 $164000 $149000 -91

Sales as reported to the Central Iowa Board of Realtors 112017mdash3312017 and 112018mdash3312018

Source Hunziker amp Associates June 2018Housing Units Building Permits In Ames (YTD)

Q1 2018 Q1 2017 Q1 2013

Total 230 297 48

Single-Family 35 56 35Multi-Family 195 241 13

2-Unit 0 0 0

3- and 4- Unit 3 0 0

5+ Unit 192 241 13

Source State of Cities Data Systems June 2018Preliminary Data for 2018 is subject to subsequent revision throughout the year

Source Ames City Assessor June 2018

2018 Residential Sales Detail - Existing amp New processed to date

Number Sold

Average Price

Average House

Size

Price per Sq Ft

Average Year Built

Median Price

Annual Change per

Sq Ft

Cumulative

Change in $ SF

(1995 base)

Existing 67 $209263 1436 $14573 1977 $191000 -57 857

Single-Family Detached 49 $221262 1552 $14257 1970 $195000 - -

TownhousesCondos 18 $176600 1120 $15768 1995 $163000 - -

New Construction Sales 2 $453627 2340 $19386 2017 $453627 -107 1031

Single-Family Detached 2 $453627 2340 $19386 2017 $453627 - -

TownhousesCondos 0 - - - - - - -

FIRST QUARTER 2018

QUARTERLY ECONOMIC REPORT QUARTER 1 2018 4

Ames Economic Development Commission304 Main StreetAmes IA 50010p 5152322310

wwwAmesEDCcom

This report has been compiled with the most current information available in an attempt to

keep you informed on key aspects of the AmesStory County economy If there is information not included in this publication that you would like to

see please contact us at 515-232-2310 or calliameschambercom

Iowa Cities Ames Burlington Cedar Rapids

DavenportMoline

Rock IslandDes Moines Dubuque Mason City Waterloo

Cedar Falls

Composite Index (US = 10000) 982 836 927 933 no data 891 885 978

Grocery Items 912 931 956 1030 no data 965 928 876Housing 934 616 812 840 no data 691 727 901Utilities 899 1032 1077 937 no data 1011 1028 955Transportation 1020 890 999 1032 no data 979 885 1096Health Care 978 991 982 1035 no data 913 927 916Miscellaneous Goods amp Services 1061 887 942 931 no data 964 951 1063

Source The Council for Community and Economic Research ACCRA Cost of Living Index 2018 Frst Quarter Data Published June 2018 Does not include Story County health care costs as a whole this is the total fee for procedure not just co-payment or amount billed to insurer

Big XII Cities Ames Manhattan Kansas

Austin Texas

Lawrence Kansas

Norman Oklahoma

Stillwater Oklahoma

Lubbock Texas

Ft Worth Texas

Waco Texas

Morgantown West Virginia

Composite Index (US = 10000) 982 913 976 no data 892 no data 913 978 885 968

Grocery Items 912 924 875 no data 916 no data 964 949 784 1031Housing 934 835 996 no data 784 no data 833 895 846 907Utilities 899 1052 964 no data 937 no data 913 1072 964 872Transportation 1020 920 868 no data 977 no data 881 1003 957 939Health Care 978 956 1030 no data 940 no data 1010 1068 924 932Miscellaneous Goods amp Services 1061 926 1023 no data 930 no data 954 1011 909 1033

Source The Council for Community and Economic Research ACCRA Cost of Living Index 2018 First Quarter Data Published June 2018 Does not include Story County health care costs as a whole this is the total fee for procedure not just co-payment or amount billed to insurer

gt Ames Chamber of Commerce

gt Ames Convention amp Visitors Bureau

gt Ames Economic Development Commission

gt Ames Main Street

gt Campustown Action Association

gt The City of Ames

gt Cultivation Corridor

gt Iowa Economic Development Authority

gt Iowa State University

gt Iowa Workforce Development

gt ISU Research Park

gt Regional Capacity Analysis Program

gt Regional Research Stats amp Data Hub

gt Startup Ames

gt Story County Iowa

gt US Census Bureau

gt Work In Ames - Local Job Board

Resources

Cost of LivingThe Cost of Living Index measures relative price levels for consumer goods and services in participating areas The average for all participating places both metropolitan and nonmetropolitan equals 100 and each participantrsquos index is read as a percentage of the average for all places

FIRST QUARTER 2018

Housing

QUARTERLY ECONOMIC REPORT QUARTER 1 2018 3

Residential Housing Sales - Quarter 1 2017 vs Quarter 1 2018

Q1 2017 vs Q1 2018Comparison

Q1 2017Average

Price

Q1 2018 Average

Price

Change

of Sales Transactions

Q1 2017

of Sales Transactions

Q1 2018

Change

2017Median

Price

2018Median

Price

Change

Ames amp Rural Ames subdivisions $242918 $246425 +14 100 105 +50 $225500 $220000 -24

Story County excluding Ames amp rural

Ames subdivisions$158875 $182198 +149 51 39 -235 $164000 $149000 -91

Sales as reported to the Central Iowa Board of Realtors 112017mdash3312017 and 112018mdash3312018

Source Hunziker amp Associates June 2018Housing Units Building Permits In Ames (YTD)

Q1 2018 Q1 2017 Q1 2013

Total 230 297 48

Single-Family 35 56 35Multi-Family 195 241 13

2-Unit 0 0 0

3- and 4- Unit 3 0 0

5+ Unit 192 241 13

Source State of Cities Data Systems June 2018Preliminary Data for 2018 is subject to subsequent revision throughout the year

Source Ames City Assessor June 2018

2018 Residential Sales Detail - Existing amp New processed to date

Number Sold

Average Price

Average House

Size

Price per Sq Ft

Average Year Built

Median Price

Annual Change per

Sq Ft

Cumulative

Change in $ SF

(1995 base)

Existing 67 $209263 1436 $14573 1977 $191000 -57 857

Single-Family Detached 49 $221262 1552 $14257 1970 $195000 - -

TownhousesCondos 18 $176600 1120 $15768 1995 $163000 - -

New Construction Sales 2 $453627 2340 $19386 2017 $453627 -107 1031

Single-Family Detached 2 $453627 2340 $19386 2017 $453627 - -

TownhousesCondos 0 - - - - - - -

FIRST QUARTER 2018

QUARTERLY ECONOMIC REPORT QUARTER 1 2018 4

Ames Economic Development Commission304 Main StreetAmes IA 50010p 5152322310

wwwAmesEDCcom

This report has been compiled with the most current information available in an attempt to

keep you informed on key aspects of the AmesStory County economy If there is information not included in this publication that you would like to

see please contact us at 515-232-2310 or calliameschambercom

Iowa Cities Ames Burlington Cedar Rapids

DavenportMoline

Rock IslandDes Moines Dubuque Mason City Waterloo

Cedar Falls

Composite Index (US = 10000) 982 836 927 933 no data 891 885 978

Grocery Items 912 931 956 1030 no data 965 928 876Housing 934 616 812 840 no data 691 727 901Utilities 899 1032 1077 937 no data 1011 1028 955Transportation 1020 890 999 1032 no data 979 885 1096Health Care 978 991 982 1035 no data 913 927 916Miscellaneous Goods amp Services 1061 887 942 931 no data 964 951 1063

Source The Council for Community and Economic Research ACCRA Cost of Living Index 2018 Frst Quarter Data Published June 2018 Does not include Story County health care costs as a whole this is the total fee for procedure not just co-payment or amount billed to insurer

Big XII Cities Ames Manhattan Kansas

Austin Texas

Lawrence Kansas

Norman Oklahoma

Stillwater Oklahoma

Lubbock Texas

Ft Worth Texas

Waco Texas

Morgantown West Virginia

Composite Index (US = 10000) 982 913 976 no data 892 no data 913 978 885 968

Grocery Items 912 924 875 no data 916 no data 964 949 784 1031Housing 934 835 996 no data 784 no data 833 895 846 907Utilities 899 1052 964 no data 937 no data 913 1072 964 872Transportation 1020 920 868 no data 977 no data 881 1003 957 939Health Care 978 956 1030 no data 940 no data 1010 1068 924 932Miscellaneous Goods amp Services 1061 926 1023 no data 930 no data 954 1011 909 1033

Source The Council for Community and Economic Research ACCRA Cost of Living Index 2018 First Quarter Data Published June 2018 Does not include Story County health care costs as a whole this is the total fee for procedure not just co-payment or amount billed to insurer

gt Ames Chamber of Commerce

gt Ames Convention amp Visitors Bureau

gt Ames Economic Development Commission

gt Ames Main Street

gt Campustown Action Association

gt The City of Ames

gt Cultivation Corridor

gt Iowa Economic Development Authority

gt Iowa State University

gt Iowa Workforce Development

gt ISU Research Park

gt Regional Capacity Analysis Program

gt Regional Research Stats amp Data Hub

gt Startup Ames

gt Story County Iowa

gt US Census Bureau

gt Work In Ames - Local Job Board

Resources

Cost of LivingThe Cost of Living Index measures relative price levels for consumer goods and services in participating areas The average for all participating places both metropolitan and nonmetropolitan equals 100 and each participantrsquos index is read as a percentage of the average for all places

FIRST QUARTER 2018

QUARTERLY ECONOMIC REPORT QUARTER 1 2018 4

Ames Economic Development Commission304 Main StreetAmes IA 50010p 5152322310

wwwAmesEDCcom

This report has been compiled with the most current information available in an attempt to

keep you informed on key aspects of the AmesStory County economy If there is information not included in this publication that you would like to

see please contact us at 515-232-2310 or calliameschambercom

Iowa Cities Ames Burlington Cedar Rapids

DavenportMoline

Rock IslandDes Moines Dubuque Mason City Waterloo

Cedar Falls

Composite Index (US = 10000) 982 836 927 933 no data 891 885 978

Grocery Items 912 931 956 1030 no data 965 928 876Housing 934 616 812 840 no data 691 727 901Utilities 899 1032 1077 937 no data 1011 1028 955Transportation 1020 890 999 1032 no data 979 885 1096Health Care 978 991 982 1035 no data 913 927 916Miscellaneous Goods amp Services 1061 887 942 931 no data 964 951 1063

Source The Council for Community and Economic Research ACCRA Cost of Living Index 2018 Frst Quarter Data Published June 2018 Does not include Story County health care costs as a whole this is the total fee for procedure not just co-payment or amount billed to insurer

Big XII Cities Ames Manhattan Kansas

Austin Texas

Lawrence Kansas

Norman Oklahoma

Stillwater Oklahoma

Lubbock Texas

Ft Worth Texas

Waco Texas

Morgantown West Virginia

Composite Index (US = 10000) 982 913 976 no data 892 no data 913 978 885 968

Grocery Items 912 924 875 no data 916 no data 964 949 784 1031Housing 934 835 996 no data 784 no data 833 895 846 907Utilities 899 1052 964 no data 937 no data 913 1072 964 872Transportation 1020 920 868 no data 977 no data 881 1003 957 939Health Care 978 956 1030 no data 940 no data 1010 1068 924 932Miscellaneous Goods amp Services 1061 926 1023 no data 930 no data 954 1011 909 1033

Source The Council for Community and Economic Research ACCRA Cost of Living Index 2018 First Quarter Data Published June 2018 Does not include Story County health care costs as a whole this is the total fee for procedure not just co-payment or amount billed to insurer

gt Ames Chamber of Commerce

gt Ames Convention amp Visitors Bureau

gt Ames Economic Development Commission

gt Ames Main Street

gt Campustown Action Association

gt The City of Ames

gt Cultivation Corridor

gt Iowa Economic Development Authority

gt Iowa State University

gt Iowa Workforce Development

gt ISU Research Park

gt Regional Capacity Analysis Program

gt Regional Research Stats amp Data Hub

gt Startup Ames

gt Story County Iowa

gt US Census Bureau

gt Work In Ames - Local Job Board

Resources

Cost of LivingThe Cost of Living Index measures relative price levels for consumer goods and services in participating areas The average for all participating places both metropolitan and nonmetropolitan equals 100 and each participantrsquos index is read as a percentage of the average for all places