Market and Demographic & Economic Data

 

Lyon Township / New Hudson Retail MarketPlace Profile - Demand and Supply Data by Industry  
Source: esri
This report identifies the leakage/surplus factor by industry subsector, listing industries that are in high demand yet are not being met in the community (in green) and industries are presently located in the township in high supply yet with low demand (in red). 

Lyon Township / New Hudson Demographic Data
- People
- Economy & Jobs
- Housing
- Transportation
- Environment & Land Use
Source: SEMCOG (Southeast Michigan Council of Government)

Economic Prosperity in Southeast Michigan Region  (graphs included)
Associate's Degree Attainment
Earning an associate's degree prepares people for skilled jobs and further advanced education. A better prepared workforce is key to economic competitiveness, job retention, and job growth
Bachelor's Degree Attainment
The number of people with bachelor's degrees has risen slightly in recent years. Creating economic growth in a global economy depends on continuing to increase the number of college graduates and emphasizing lifelong learning to meet evolving workforce needs.
Regional Gross Domestic Product
There have been seven years of consecutive GDP growth returning Southeast Michigan to production levels near the pre-recession peak.
Personal Income Growth
Personal incomes in Southeast Michigan have grown in six out of the last seven years, returning to pre-recession income levels.Poverty Rate
Southeast Michigan’s poverty rate has declined for five years, but has yet to return to the pre-recession poverty rate and also trails the U.S. as a whole.
Labor Underutilization Rate
With six consecutive annual drops in Labor Underutilization Rate, Michigan is below pre-recession levels and almost equivalent with the national rate. The 2045 Regional Development Forecast finds that labor shortages will place a ceiling on regional economic growth in the coming years.
Change in Jobs
Beginning in mid-2010, Southeast Michigan has experienced a period of modest, sustained job growth following a decade of job losses.
Economic Diversity/Employment Composition
The employment composition of Southeast Michigan continues to respond to changes in the regional economy. Manufacturing in both automotive and non-automotive sectors declined over the last decade but have been stabilizing in recent years. Healthcare and professional and technical services continue to grow and take up a large share of the jobs

Source: SEMCOG (Southeast Michigan Council of Government)