Emmetsburg, Iowa - Economic Development

Retail Trade Analysis
2004

For the complete report, Retail Trade Analysis, 2004, with tables and charts go to www.seta.iastate.edu/retail/publications/2004rta/Emmetsburg04.pdf

Introduction, p. 2
Overview, p. 6
Historical Performance, p. 8
Historical Comparisons, p. 11
Comparative Analysis, p. 12
County Statistics, p. 17
State Statistics, p. 21

Prepared by Georgeanne M. Arts.
Originally developed by Dr. Kenneth E. Stone and Scott J. Baumler
Iowa State University – University Extension

Introduction
Summary

Introduction
Trade statistics, business numbers, and sales data can provide insight for a variety of purposes, including decisions concerning expansion, relocation, marketing, government, finance, and community development.

Iowa State University Extension Service has conducted retail trade analyses for many years. The main purpose of these studies is to inform business people and other citizens of the history and current status of their retail sectors.

By knowing the relative strengths and weaknesses of a town’s business district compared to those of competing towns, it is hoped that merchants will build upon strengths and capitalize on the areas of opportunity.

Summary*

Retail sales in Emmetsburg totaled $26.87 million in 2004. Compared to 2003, sales declined 0.74%. Adjusting for inflation, that was a “real” change of -2.55%.
For the state as a whole, total table retail sales were $29.1 billion. Sales increased 1.37% between FY03 and FY04; in inflation-adjusted dollars sales fell 0.65%.
Sales per business in Emmetsburg rose 1.23% in that same time frame, which translates into a decline of -0.63% once inflation is taken into account. Statewide sales per business rose 9.5% in nominal terms and 7.3% in real terms.
In 2004, Emmetsburg has 100% as many retail businesses as it had in 1976. In real terms, average revenue per business was 49% of what it was in 1976. The comparable state statistics are 106% and 102%, respectively.
The rate of growth in total retail sales between 1976 and 2004 averaged 1.8% annually for Emmetsburg. In inflation-adjusted terms, the average annual rate of change was -2.68%.
For the state, the nominal average annual rate of growth between 1976 and 2003 was 4.70%. The real rate was +0.30%.
Retail sales in Emmetsburg amounted to $7,001 per capita in 2003. This was 72% of the state average, $9,884.

Additional Summary**

For the state of Iowa, per capita spending in 2003 totaled $9,778. The state sales per firm were $325,019.
In fiscal year 2003, Emmetsburg, the largest trade center in the county, had 47 percent of the county’s retail businesses and 51% of the county’s retail sales.
A “surplus” indicates that trade is being pulled from beyond the county borders; while a “leakage” indicates that county residents are shopping elsewhere. In 2003, the Leakage was -34.5%.
In Palo Alto County, the merchandise group sales were: Building Materials, 5.4%, Eating and Drinking, 8%, Specialty Stores, 8.6%; Services, 14.4%; Wholesale, 2.1%.
Compared to the state. Palo Alto County had a higher proportion of low income households (less than $15,000 annual income), and a lower proportion of higher income households ($60,000 and over.)
In 2000, Palo Alto County had 4,119 households and an average of 2.46 persons per household. There were 1.15 million households statewide with an average of 2.54 persons per household. Compared to the state, Palo Alto County had a lower proportion of young people (19 or younger) and a higher proportion of older people (age 65+).

*Data derived from:
The United States Census Bureau
The Iowa Department of Revenue and Finance, and
The Survey of Buying Power, Sales and Marketing Management.

**Retail Data for Decision Makers – Palo Alto County, prepared by Georgeanne Artz and Kenneth E. Stone, ISU Extension Service, 2003

City of Emmetsburg
2021 Main St
Emmetsburg, IA 50536
(712) 852-4030