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MARKET ANALYSIS to 221,000 over the most recent ten-year period, a 26% increase. These percentage increases are more than double the national market increase of approximately 10% during that same period. With the dramatic increase in the number of families, entertainment providers may look favorably on bringing a number of diversified family -oriented events to the market. In addition to a strong population base, there has been a substantial increase in household income. Average household income for Snohomish County has increased from $42,358 to $63,758 since 1990, a 50% increase. The three -county market has increased from $40,818 to $61,553 during that period, an identical 50% increase. Snohomish County's average household income is approximately $5,000 above the national average. The substantial increase in average household income reflects an increase in disposable income. Markets with high average household incomes are vital to the success of the arena. The high level of income predisposes the market to support a variety of arena events. Metropolitan Statistical Area The economic statistical analyses show that, in terms of number of households, median household effective buying income, total effective buying income, and buying power index, the Seattle -Bellevue -Everett Metropolitan Statistical Area (MSA), in which the City of Everett is included, is one of the MSA's most capable of supporting a mid -sized facility. Table I (Exhibit 1) compares the Seattle -Bellevue -Everett Metropolitan Statistical Area s (MSA) number of households against 49 • other markets. The Seattle -Bellevue -Everett market falls 18`h with a total of 935,700 households. The significant number of households in the MSA is a positive indicator of Everett's ability to successfully support a multi- purpose arena. Table 2 illustrates market wealth ranked by median household effective buying income. Effective buying income (EBI) is a measure of monetary income after taxes and non -tax payments. The Seattle -Bellevue -Everett market's effective buying income of $48,262 ranks seventh nationally, ahead of such affluent markets as Bergen -Passaic and Boston. Table 3 shows market wealth ranked by total effective buying income. With a total effective buying income of $55,638,076, Seattle -Bellevue -Everett is 13`h nationally. Because effective buying income is a measure of disposable income, Seattle -Bellevue -Everett exhibits a remarkable ability to sustain a variety of entertainment events on a per household basis. Table 4 demonstrates market wealth ranked by buying power index. Buying power index is a weighted factor of regional EBI, retail sales, and population size. The Seattle -Bellevue - Everett buying power index (1.0665) is ranked 14th nationally. This index illustrates the proportion of households with high disposable incomes who exhibit a willingness to spend. The strength of this index is expected to continue to increase as the Seattle -Bellevue -Everett corporate market grows. Survey of Local Businesses B&D conducted a telephone survey of local businesses to gauge their interest in, and City of Everett — Arena Feasibility Analysis Page 12