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Platte County’s economy is soaring almost as much as the jet traffic taking off from Kansas City International. A fortuitous combination of factors has placed Platte County in a unique position. These trends range from an abundance of close-in but undeveloped property, to development around KCI. Another is Platte County’s affluence, and how that has impacted its growth. With a relatively small population and a per capita wage almost six percent higher than the state average, Platte County has been dramatically impacted by several upscale developments that have been begun or were completed within the past six years. Coupled with improved roadways such as the recently completed, four-lane Highway 152, and increased traffic from throughout the region, the net result has been development of a significant, regional retail market. Platte County’s median household income today is $63,817, well above the $32,391 average for Missouri. On a broader scale, Platte County’s market compares well, too. Population estimates within a 10-mile radius of two key I-29 intersections are well over 350,000 people, 130,000 households and an average HH income of $60,000. Not surprisingly, the intersections are I-29 and 64th Street, and I-29 and Barry Road/152 Highway, the scene of Platte County’s most intense retail development. At one time Platte County saw much of its spendable income go elsewhere, but with its recent range of developments that has changed. Between 1993 and 2003, Platte County ranked third in northwest Missouri for improvement in capturing new retail dollars. The area now sees a net “plus” in the amount of local income spent within versus outside of the county. Other areas of the Platte County economy are growing as well. Commer-cial development of office, distribution and manufacturing outpace the more visible retail growth. In the KCI area, more than $200,000 million in development is planned, in progress or recently completed. While the KCI market is unique, this diverse growth pattern is echoed in other areas as well, from Riverside to Platte City. |
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