Innovation-Based Economic Development ... - Innovate Holyoke

Innovation-Based Economic Development Strategy for Holyoke and the Pioneer Valley
Figure 9: Unemployment Rate (2000 – 2010)
Percent
12
10
8
6
4
2
0
Source: BLS Local Area Unemployment Statistics (LAUS)
2.1.6 Poverty Rates
In 2000, nearly 50 percent of Center City’s population was in poverty. This is dramatically different from
Holyoke generally or Hampden County, which reported that 26.4 percent and 14.7 percent of the
population is impoverished, respectively. 5 In 2009, the poverty rate for families in Holyoke slightly
increased to 27.1 percent, almost three times the Springfield NECTA poverty rate of 11.3 percent.
According to the US Census Bureau, the national and Massachusetts poverty rates for families in 2009
were significantly lower than Holyoke, at 10.5 and seven percent, respectively. Figure 10 compares the
poverty rates for Holyoke, the Springfield NECTA, state and nation.
Figure 10: Poverty Rates (2009)
30%
25%
20%
15%
10%
5%
0%
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Holyoke Region Massachusetts US
Holyoke Springfield NECTA MA US
Source: US Bureau of the Census 2009
5 Baseline Economic Conditions & Market Characteristics The Center City Urban Renewal District, Holyoke, MA, Prepared for
Vanasse Hangen Brustlin (VHB), Inc., Prepared by RKG Associates, October 2010.
MASSACHUSETTS TECHNOLOGY COLLABORATIVE 2-9
2-9 MASSACHUSETTS TECHNOLOGY COLLABORATIVE