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chapter 8 <br /> econo ic <br /> opportuneit'ioes <br /> Issues and Opportunities <br /> The Jasper Street Corridor is home to a wide diversity of employers-from major companies including ADM,Ameren, <br /> Mueller Water Products and Decatur Custom Tool to small, local businesses such as Homerun Food, J Morris <br /> Enterprises and JJ Fish,As shown in the table below,there are over 9,400 residents and Workers in the Corridor. <br /> 2020 Total Daytime Population 9,433 <br /> Workers 3,800 <br /> Residents 5,633 <br /> Source: U.S. Bureau of the Census,2010&2020 Census, ESRI BIS forecasts for 2022 and 2027 VCE <br /> In 2022 the median household income was$30,705 in the Corridor,compared to$47,141 citywide.Median household <br /> income is projected to be$34,912 in five years. <br /> By far the largest household budget item is spending for"Housing",occupying more than 30%of the total household <br /> spending budget.Food,Pensions and Social Security and Transportation are the next largest budget items with 12.0%, <br /> 1o.o%and 12.2% respectively. Dining Out and Entertainment account for 4.8%and 4.1%of household spending.That <br /> translates into an annual$12 million in spending potential for both categories combined, much of which is currently <br /> Leaking out of Corridor Area. New businesses in those categories could be an attractive addition to the Corridor. <br /> The goals for economic opportunities are: <br /> • Connect residents to education,workforce training,and career opportunities. <br /> Provide technical assistance, marketing, and training to local businesses in the corridor. <br /> Connect business to the City's economic development and beautification programs to increase the visibility and <br /> attractiveness of local businesses to be a welcoming place to eat, shop, and play. <br /> Attract new businesses and investment to Jasper Street. <br /> PAGE 45 __ <br />