Wednesday, March 15, 2017

Reasons why Lake of the Ozarks is the Best Recreational Lake in the USA!

The Lake of the Ozarks region has one of the best qualities of life in the United States. Because we have such a wonderful place to live, it's also a great place to relocate your business in Missouri. One of the most significant attributes for the region is its natural scenic beauty along the 1150 miles of Lake Shoreline. Located in south central Missouri, the Lake of the Ozarks is one of the largest manmade lakes in the world and is surrounded by the beautiful Ozark Mountains.

Here are some more reasons why Lake of the Ozarks is the Best Recreational Lake in the United States.


Stay Where You Want - The Options are Unlimited


Lake of the Ozarks lodging offers accommodations with a wide array of lodging choices. This ensures every traveler will find the right place to stay at the right price for them. Whether you're preferences are full service lake resorts, reliable and well known hotel/motel chains, extended stay & vacation homes, or beautiful campgrounds & RV parks you'll have little trouble finding a place to rest your head at the Lake of the Ozarks.

Eat What You Love - We have a Wide Range of Great Restaurants


The Lake of the Ozarks has more than 100 restaurants to choose from, so regardless of the mealtime, you're sure to find something you love with the variety of choices. At the Lake, you'll find contemporary gourmet creations by world-renowned chefs, tasty Ozark barbecue, all-you-can-eat buffets, juicy bar-and-grill burgers, down-home favorites and much more. Don't forget to leave room for dessert - there's more than enough tasty treat stops around the Lake area to satisfy that sweet tooth.

Shop Til You Drop - We have the Largest Outlet Mall in Missouri


There is no shortage of shopping venues at the Lake of the Ozarks. In fact, it’s not unusual for people to come to the Lake strictly to shop! From a major outlet-mall with name brand designer stores to small, unique boutiques, the Lake has it all. Antique shops and flea markets also attract shoppers to the Lake of the Ozarks. The area’s hundreds of retailers offer items for the family, the home, the outdoors, the holidays and much more. Antique shops and flea markets also attract shoppers to the Lake of the Ozarks. Shopping is one activity you can indulge in year-round at the Lake of the Ozarks. For holiday or anytime shopping, you’ll find what you’re looking for at the Lake.

Go to our Spas and Relax


Retreat from your busy life by spending the day at one of the spas at the Lake of the Ozarks. Whether you're looking to balance your chi or energy, or are looking for a more a state-of-the-art clinical environment, you'll find spa services to re-center and relax you in a peaceful and tranquil environment at any of the spas the Lake of the Ozarks has to offer. 

Work Hard, Play Harder


For fun on or off the water, the Lake of the Ozarks offers a plethora of activities for all ages. Whether you are viewing the Lake area via helicopter or soaking up the sun by boat, there is plenty to do at Lake of the Ozarks. Families can enjoy two waterparks, lots of action-packed arcades, three popular "show caves" and visit the museums at Lake of the Ozarks. The Lake of the Ozarks is also home to more than twelve area golf courses for beginners and pros. 

Enjoy a night out with friends after a fun-filled day on the Lake. Night-life at the Lake provides opportunity for all styles of music all year round. The Lake also has plenty of hangout spots for all personalities. There is no better place to be for year-round fun than the Lake of the Ozarks.


The Lake of the Ozarks, "the best recreational lake in the USA," is a diverse area that has an excellent business environment and provides top notch quality of life. With substantial infrastructure and thousands of acres of undeveloped land at attractive prices, our region makes an excellent site for industrial, commercial and retail development at the Lake of the Ozarks. LOREDC is committed to serving the business community. Professional staff and experienced Missouri economic development representatives are available to assist with whatever challenges businesses encounter. Whether a business is new or expanding or just needs assistance, the Lake of the Ozarks Regional Economic Development Council will help.


  

Wednesday, February 15, 2017

2016 Economic Development Activities Overview

In 2016, the Lake of the Ozarks Regional Economic Development Council was busy with several projects and programs in addition to the many ongoing activities. LOREDC programs and activities are based on the fundamental goal to proactively lead and initiate economic growth to the Lake of the Ozarks through cohesive and cooperative representation, while complementing efforts of the individual communities of the region. Keep reading for an overview of last year's LOREDC accomplishments.


Regional Housing Study 


In early 2015, LOREDC partnered with RDG Planning & Design to develop a comprehensive Lake of the Ozarks Housing Study to outline the current housing conditions and address the housing needs of Camden, Miller and Morgan counties. LOREDC understands how housing development affects the economic forces of the community on both a local and regional basis. The housing study was completed in 2016 and was made possible because of the many business and community financial partners and LOREDC's Housing Committee members who put in many hours facilitating the project. The completed study shows a detailed profile of the region, defines our current housing issues and discusses challenges and possible directions to move forward. LOREDC's next priority for this project is to develop a task force to help implement the study in our region.

View the complete housing study here.   

Missouri Location One 


Through a partnership with the Lake of the Ozarks Council of Local Governments (LOCLG), communities can receive assistance in identifying, populating and listing properties and sites on the Missouri Location One website. Missouri Location One is a searchable economic development database for detailed information on development sites, buildings and locations for businesses to grow. LOREDC recognizes that Location One is the leading online economic development site selection tool in the United States, and by assisting communities in providing comprehensive and up to date information, is a value to the entire LOREDC region. In 2016, many LROEDC communities increased their site listings from previous years on Missouri Location One with the assistance of LOCLG. This is an ongoing program with continued focus in 2017.

View the current listings for the Lake of the Ozarks region here.

Partners in Marketing Program


LOREDC continues the Partners in Marketing Program to promote alignment with other partners and organizations within Camden, Miller and Morgan Counties. The program's intent is to provide funding through an application process for professional marketing components to aid in the stability and growth of the Lake of the Ozarks area. In 2016, a $1,000 grant was distributed.

View the Partners in Marketing Grant Application here

Regional Workforce Profile 


LOREDC partnered with Ameren Missouri to complete the 2016 Regional Workforce Profile. The report provides an industrial and demographic overview of the Lake of the Ozarks region. It contains a comprehensive assessment of our economic base, competitive attributes, and population and workforce trends. This nationally standardized data is useful in guiding local and regional economic development in the Lake of the Ozarks area.

View the complete workforce profile here.

LOREDC - Your Strategy for Business Growth


Visit our website at www.LOREDC.com for recent press releases and other essential information that LOREDC has to offer our region. The Lake of the Ozarks Regional Economic Development Council is here to serve as your liaison for the Lake of the Ozarks area. Our goal is to make your site search as easy as possible and to provide you with all the information and resources you need to consider our community during your site search.


  

Friday, January 20, 2017

LOREDC Annual Membership Meeting & Business Award Winners

The LOREDC 2017 Annual Membership Meeting was held on Thursday, January 19, 2017 at The Lodge of Four Seasons. During the meeting, members of LOREDC and the local community presented updates on financials, membership, marketing, the housing study and more.

Meeting Agenda


After a nice buffet breakfast, Time Jacobsen, LOREDC President called the meeting to order. There was an approval of the minutes, as well as a financial report. Tim Jacobsen then provided the membership update. Lori Hoelscher presented the marketing committee update. Following those updates was the LOREDC Grant Recipient Presentation by Mayor Olivarri with the City of Osage Beach. Jeff Hancock gave us a housing study update. Then Representative Diane Franklin offered a legislative update. Lina Conner of the Council of Local Governments gave us an update on the council and their efforts. Next was the presentation of awards, followed by LOREDC Board of Directors Nominations and the Election of LOREDC Board of Directors. During the second half of the meeting, Ronda Anderson of MERIC and Mike Kearney, the Ameren Director of Economic Development each gave a key not presentation. Tim Jacobsen then gave closing remarks and adjourned the meeting.


LOREDC Business Awards 


Trish Creach, Lori Hoelscher & Heather Brown presented this year's LOREDC business awards, honoring persons/businesses in the tri-county region. To be eligible for these awards, the company/person must have been in business for a minimum of 6 months and must be a registered business in Camden, Miller or Morgan County. Congratulations to this year's winners!

Business Partner of the Year - Small Business: Scott's Concrete
A business that has experienced significant business accomplishments in the past year, ie. growth in jobs and/or exemplary community involvement.


Business Partner of the Year - Large Business: Performance Boat Center/Redhead Yacht Club
A business that has experienced significant business accomplishments in the past year, ie. growth in jobs and/or exemplary community involvement.


Business Person of the Year: Missy Pinkel, LO Profile Magazine 
A business owner/manager that has made a contribution to the economic welfare and/or has made a considerable donation of time and resources to the community.


Emerging Enterprise of the Year: Ozarks Amphitheater
A business that best displays the innovation, entrepreneurial accomplishments and/or utilization of emerging technology.


Lake of the Ozarks Regional Economic Development Council


LOREDC's goal is to serve as a liaison for the Lake of the Ozarks area, providing the information and resources needed when investors are considering the community for potential industry, manufacturing, retail, entrepreneurial endeavors, tourism and retirement. We are committed to serving the Lake area business community by promoting the advantages of regional activities and support. LOREDC strives to be a cohesive and cooperative effort to sell the Lake area advantages to potential business and industry using a regional approach to marketing.

LOREDC is a membership organization with annual investors that support and make up the organization, and participate in monthly lunch meetings and various committee meetings. The LOREDC board of directors consists of volunteers that are elected by the full membership of the organization to serve three year terms. If you are interested in the economic growth of the Lake area or want to learn more about LOREDC membership, contact Tim at 573-216-4023.


  

Thursday, December 15, 2016

2017 Regional Housing Study: Housing & Regional Trends

The Lake of the Ozarks Regional Housing Study represents an in-depth study of the housing conditions in Camden, Miller and Morgan counties, as well as Laclede County. Building on the population and economic characteristics we discussed in last month's blog, today we dive into household size and other household characteristics. 

Housing & Household Assessments


Households around the Lake of the Ozarks region tend to be smaller, reflecting the older median age and the type of housing these populations demand. Young families are locating in the population centers and rural areas off of the Lake. A region's occupancy and housing age can tell a lot about the makeup of the housing market, gaps and opportunities.

Occupancy 

Most of the rental housing for the Lake of the Ozarks region's workforce is located within the population centers of Versailles, Camdenton, Lebanon and some in Osage Beach and Eldon. Vacancy rates in the region are much higher than traditional markets would experience, but this is driven by the large number of seasonally occupied housing units. These seasonally vacant units impact owner-occupied second homes and units that are leased out on long and short term basis. The rents that seasonal units can demand also impact the cost of housing for permanent residents during the summer months.


Housing Age

The median age of structures is generally younger across the entire region. The oldest housing in the region has a median age of 45 years. For most rural areas, the median age of housing is closer to 50-60 years of age. Significant building activity was taking place in the last 30 years across the region.

Housing Costs


Median home values have a fairly significant variation across the county from a low of $65,000 in Versailles to a high of $240,000 in the Village of the Four Seasons area. Home values around the Lake are the highest in the region. Natural features, such as the hilly terrain and depth to bedrock, increase the cost of water, sewer and road services, and foundational construction costs. These factors are important when considering appropriate locations for more affordable housing. Home values in communities away from the lake are well below construction costs. Home values in the rural areas seem to be fairly strong as populations have remained high and even grown. Values within the Lake communities are slightly higher and likely force many of the service workers employed in the area to drive substantially farther than other workers. Incomes and median home values would indicate that housing if fairly affordable. On the rental side of the market, rates around the Lake are naturally higher, driven by seasonal rentals and the demand to be close to the Lake. In addition, the cost of construction and maintenance of rental units has continued to increase, just as new home construction has increased. While many households can afford this higher rent situation, they still struggle to meet the credit requirements or stable income necessary to qualify for traditional home loans, creating a demand for quality rental housing.


Regional Trends 


To understand our regional housing market, we have to look at more than just census numbers and maps. Therefore, input from local residents, realtors, builders and the financial community was gathered through meetings and surveys. Respondents of the surveys lived in various areas of the region and ranged from 30-60+, with a very low percentage of 18-29 year olds. Of the respondents, 91% own their own home. These were their perspectives:
  • Over 50% of respondents felt that the current housing does not meet the needs of young families, multi-generational families and the elderly. 
  • Most respondents identified the type of housing that would be appealing to young families and seniors as products with the greatest potential. These included mid- and small-sized homes, independent senior living, apartments and townhomes. 
  • For seniors looking to live off of the Lake, respondents felt that owner-occupied homes with shared services (lawn and snow) and apartments with optional services (food, laundry, etc.) would be successful. 
Open ended questions were also asked and the most frequent comments focused around the following:
  • Property maintenance 
  • Gaps in the housing market from the workforce survey. Homes off of the Lake appeal to young families and a share of seniors. 
  • Issues related to city and county zoning regulations. This includes under enforcement, inconsistent enforcement and concern about location of higher density zoning. 
  • The economy and jobs, especially the need for better paying jobs that can support quality housing. 
  • The gap in the rental market and the need to provide adequate housing for the region's workforce. 

Stakeholder Groups 

The housing study process included focus group meetings with local experts from financial institutions, builders and developers, real estate agents, business representatives and major employers, public sector and landlords. Below are some of the broad themes of the meetings:
  • Workforce Housing - There's a significant demand for adequate housing that meets the needs of entry level workers, as well as housing that meets the diverse workforce.
  • Infrastructure - Infrastructure is what drives the cost of housing. Funding the installation and maintenance of this infrastructure is a challenge for cities without good funding sources. Currently, most infrastructure is installed by the development community with no way to offset high costs due to terrain and geology. These challenges make it difficult the bring more affordable lots to the market.
  • New Development Areas - The lack of "buildable" lots was identified as an issue for contractors and developers. While there is a supply of lots, many have slop, access and infrastructure issues that push the final cost to price points well of out range for the regional's workforce.
  • Rental or Transitional Housing - New residents to the area and young adults first entering the housing market traditionally gravitate to the rental market. Over the past 20 years, the rental or multi-family market has frequently focused on seasonal units that tend to be out of the price range of most workers or are only available in the off-season. 
  • Rehabilitation - The ability or interest in rehabilitation of existing housing has been slow in the communities further away from the Lake. The low value of existing housing and economic capacity are likely the most common reasons. When rehabilitation will cost more than the final appraisal of the property, there is little to no motivation to invest in housing stock. 
 


To view the complete study, visit: http://loredc.com/pdfs/2016_10-19%20Lake%20of%20the%20Ozarks%20Housing%20Study_Web.pdf.

Lake of the Ozarks - Your Strategy for Business Growth


If you're interested in joining the growing community at the Lake of the Ozarks, the Lake of the Ozarks Regional Economic Development Council can help! We're here to serve as your liaison for Lake of the Ozarks area. Our goal is to make your site search as easy as possible and to provide you with all the information and resources you need to consider our community during your site search. We can also assist you with most aspects of relocating your business to the Lake of the Ozarks and we encourage you to visit our website or call us at 573-569-7420.



Tuesday, November 29, 2016

2017 Regional Housing Study: Population & Economy

The Lake of the Ozarks Regional Housing Study represents an in-depth study of the housing conditions in Camden, Miller and Morgan counties, as well as Laclede County. The communities of the study area display unique personalities and housing challenges. The study examines the unique situations of each county and the major population centers within those communities, using this analysis to derive common themes that can be addressed by cooperative actions. Keep reading to learn more about the housing study and the results that were found.

Why a Housing Study?


As the Lake of the Ozarks Regional Economic Development Council (LOREDC) assembled economic development plans and initiatives for the region, housing came up frequently as a major economic development factor. To be successful, the area must provide a variety of housing types. While the area has successful attracted a growing population, housing has not exactly followed the same trend. More and more communities are realizing that quality housing is essential to economic diversity, and therefore, the idea for a housing study was developed. The study was designed to be a strategic and frequently used road map to identify and meet current and future housing priorities. The study includes a thorough analysis of all aspects of the region's housing market, along with practical recommendations and tools to help address housing issues and opportunities.

Regional Populations


The Lake of the Ozarks region is a rich tapestry of Missouri culture and environmental assets. Overall, the region has experienced strong growth since the 1980s. Strong growth across all the counties, especially Camden County which grew by 120% between 1980 and 2010. Unlike many regions in the Midwest, the population within rural areas has grown over the years and actually remained a higher percentage of the population than those living within incorporated areas. In the 2000s, the strongest growth rates occurred in unincorporated areas northwest of Camdenton with Lake and Highway 5 access, the Village of Four Seasons, and the west side of Lebanon. In contrast to those areas, Eldon, Versailles and the census tract west of Gravois Mills declined in population between 2000 and 2010.


Regional Economic Assessment 


A region's economy, including industries, pay and unemployment, all play a role in a household's housing options and ability to construct new housing. All the counties in the region are below the state of Missouri's estimated household income. Based on a 2014 American Community Survey, a fairly high unemployment rate for all four counties is indicated. Keep in mind that seasonal variations affect the employment numbers. The largest industries in the region include manufacturing in Laclede, educational services and healthcare in Camden and Miller, and retail in all the counties, with the largest employer in Morgan County. Industry patterns usually have a direct impact on the education and income levels of a region. All these factors impact the cost of housing and household buying power. Take a look at the full housing study document on our website to see data separated by county.


Stay tuned for next month's blog that will feature an overview of the housing and household assessment, as well as regional trends. To view the complete study, visit: http://loredc.com/pdfs/2016_10-19%20Lake%20of%20the%20Ozarks%20Housing%20Study_Web.pdf.

Lake of the Ozarks - Your Strategy for Business Growth


If you're interested in joining the growing community at the Lake of the Ozarks, the Lake of the Ozarks Regional Economic Development Council can help! We're here to serve as your liaison for Lake of the Ozarks area. Our goal is to make your site search as easy as possible and to provide you with all the information and resources you need to consider our community during your site search. We can also assist you with most aspects of relocating your business to the Lake of the Ozarks and we encourage you to visit our website or call us at 573-569-7420.



  

Wednesday, October 26, 2016

Build Your Own Business Project: Basic Economic Indicators Report

In 2007, the Build Your Own Business Project was accepted into the University of Missouri Extension Community Economic and Entrepreneurial Development Program (ExCEED). The project includes four counties: Benton, Camden, Miller and Morgan. ExCEED program leaders requested that the Community Policy Analysis Center (CPAC) provide basic economic information to the Build Your Own Business Project and three other regions accepted into the program at the same time. The ExCEED program assisted CPAC faculty to design the studies and underwrote the cost.



Key Findings 


Population - Total population in the Build Your Own Business Project Region was 103,747 in 2006. The region's population is projected to increase between 1.08% and 1.43% per year over the next ten years, bringing the total 2016 population to a range from 115,557 to 119,619.

Personal Per Capita Income - In 2006, the personal per capita income for Build Your Own Business Project was $25,930. Historically, personal per capita income has shown a slow, steady increase in the region. If income follows overall growth trends for the past 10 years (1996 to 2006), then it may grow to as much as $30,172 by 2016. If, instead, the more recent trend from 2004 to 2006 continues, personal per capita income will increase to just $27,583 by 2016.

Employment (Full-Time and Part-Time Jobs) - There were 57,283 full-time and part-time jobs located in the Build Your Own Business Project Region in 2006. Employment is projected to increase by as much as 4.15% per year between 2006 and 2016. The growth in employment is faster than the growth per capita income and the growth in population.

External Employment - Employment (full-time and part-time jobs) located in the counties that surround the Build Your Own Business Project (also called External Employment in this study) is projected to increase at a much slower pace than employment inside the Build Your Own Business Project. Projected increases in External Employment range from 0.21% to 1.39%. In 2006, there were 196,874 jobs located in the counties surrounding the Build Your Own Business Project Region.

External Labor Force - Labor force is defined as individuals 16 years and older, who are working or seeking employment. External labor force includes those individuals in the labor force who reside in the counties surrounding the Build Your Own Business Project Region. In 2006, there were 151,175 individuals in the Build Your Own Project Region's External Labor Force. There are more jobs than individuals in the labor force in the counties surrounding the Build Your Own Business Project. This may indicate a reliance on workers outside the greater region to fill employment demand, or a situation where many people in the labor force are working more than one job.

Regional Industries - In 2006, Services and Retail Trade were the largest industrial sectors in the Build Your Own Business Project Region.

Business Size - In 2006, 80.1% of the Build Your Own Business Project Region's 3,251 businesses had fewer than 10 employees, and 60.3% have fewer than 5 employees.

The table below summarizes annual growth rates for several key variables detailed in the Build Your Own Business Project Report.







The purpose of the Build Your Own Business Project Report is to provide information that will help local leaders and residents better understand the regional economy. The report is meant to support ongoing region-wide efforts to promote entrepreneurship for regional economic development. You can read the full report here: http://loredc.com/pdfs/2016BYOB%20final%20report.pdf.

Planning for the future begins with envisioning it. 

 

Lake of the Ozarks - Your Strategy for Business Growth


If you're interested in joining the growing community at the Lake of the Ozarks, the Lake of the Ozarks Regional Economic Development Council can help! We're here to serve as your liaison for Lake of the Ozarks area. Our goal is to make your site search as easy as possible and to provide you with all the information and resources you need to consider our community during your site search. We can also assist you with most aspects of relocating your business to the Lake of the Ozarks and we encourage you to visit our website or call us at 573-569-7420.



  

Wednesday, September 28, 2016

Advantages to Doing Business in Missouri

Why Missouri? 


While Missouri is home to 10 Fortune 500 companies and just as many of America's largest private companies as designated by Forbes, the state is equally dedicated to the growth of smaller businesses as well. Missouri is all about economic and business growth. The state has maintained a solid business environment over the years and that stability helps companies that are new to the state plan for growth even before relocating business to Missouri. Let's take a look at a few of the advantages to doing business in the "Show-Me" State.

Missouri Labor Force 


Missouri has one of the most valuable workforces you will find anywhere across the country. Based on high school graduation rates, Missouri has a better educated workforce than most other states. This means our workers have the basic competencies to support advanced manufacturing and logistics. Missouri is home to nationally ranked Washington University in St. Louis, and nearly 140 other degree-granting institutions. Companies in bio, energy, financial, IT and health services benefit from the outstanding talent that is developed at these facilities.

In addition to quality workers, Missouri workers work for less. The average Missouri hourly wage is more than 8% less than other states. This makes labor more valuable in Missouri than in any other state. Compared to other Midwest states, Missouri is unique in that it has a workforce of more than 3 million.

Missouri Logistics


The state of Missouri offers a combination of logistical benefits that truly affect the bottom line. Missouri's central geographical location helps companies reach most domestic markets in two days by land or three hours by air. Half of all U.S. households and manufacturers are located within a single day's drive. Missouri is also home to the two largest river systems in North America, and two of the largest rail terminals. International air service and the 6th largest public road and highway system benefit both domestic and foreign-owned companies.  

Missouri Long-term Business Benefits


Having earned a AAA bond rating for 50 years, Missouri is a sound economic investment. Only two other states can make that same claim. Rare for a Midwestern state, the Tax Foundation has consistently ranked Missouri in the top 10 for low corporate income taxes. In addition, Missouri's streamlined incentives make it easier for companies to relocate to the state. Learn about these incentives here: http://loredc.com/incentives.asp. Missouri is also not affected by fluctuations in the marketplace to the degree that other states are.

Other Advantages


In addition to a great business climate, Missouri offers a great quality of life. The Lake of the Ozarks area specifically, has a lot to offer in regards to quality of life. The Lake of the Ozarks is one of the most popular tourist destinations in the Midwest and offers endless recreational activities. Comprehensive healthcare and a great education are also available to residents throughout the Lake region. The cost of living is low, housing is affordable and the region is very fortunate to have low crime levels, as well as clean air and water for our citizens. Read more about the quality of life at the Lake of the Ozarks here: www.LOREDC.com/quality.asp.

Lake of the Ozarks - Your Strategy for Business Growth


If you're interested in joining the growing community at the Lake of the Ozarks, the Lake of the Ozarks Regional Economic Development Council can help! We're here to serve as your liaison for Lake of the Ozarks area. Our goal is to make your site search as easy as possible and to provide you with all the information and resources you need to consider our community during your site search. We can also assist you with most aspects of relocating your business to the Lake of the Ozarks and we encourage you to visit our website or call us at 573-569-7420.

Source: http://www.missouripartnership.com/Why-Missouri/Missouris-Advantages