Sunbelt Fund I Updates > Resident Employer Industries
Sunbelt Revenue Strengthened by Resident Employer Industry Diversification
Sunbelt Fund I collections and revenue have grown despite the COVID-19 pandemic. One contributing factor to this growth is our strategy of investing in non-coastal Southeastern cities, with lower concentration of employment in industries highly susceptible to an economic downturn (such as hospitality and food & beverage). To illustrate the employment diversification of our residents we took a deep dive into the breakdown of their employers by industry.
The above data is sourced from all resident applications that we have approved dating back to April 2019.
A few notes about the breakdown:
The above data is sourced from all resident applications that we have approved dating back to April 2019.
A few notes about the breakdown:
- Military resident concentration can be a cause for concern when there is a high potential for those residents to be deployed. However, a large portion of the Sunbelt Fund I military residents work in military support roles or are veterans supported by the VA. These residents are less likely to be deployed with positions in Air Force Air Traffic Control, Army IT Support, Army HR Administration, and as Air Force Technicians.
- Outside of military, 57% of our resident base hold jobs in healthcare, essential retail, agriculture & manufacturing, professional & business services, government, and education. These jobs have proven relatively pandemic-resilient with many either being deemed “essential workers” or being protected by either state or federal government employers.
- Food & beverage and non-essential retail jobs comprise just 12% of our resident base. While these jobs are the most susceptible to reduced hours or jobs loss due to the pandemic driven economic downturn, these residents have thus far been supported by their employers, amplified unemployment benefits, stimulus checks, and the Southeastern states’ relative aggressiveness in re-opening their economies.
Non-Coastal Southeastern Cities: Less Downturn-Susceptible Employment
Above we compare the employer industries for a selection of the Southeastern non-coastal cities in which we invest (Macon, Albany, Fayetteville, Valdosta) to both the U.S. national average and three hospitality focused Southeastern coastal cities (Charleston, Savannah, Myrtle Beach).
We have defined “Susceptible Industries” as Hospitality/Accommodation, Food & Beverage, Construction, Arts, Entertainment, and Recreation. Data is taken from BestPlaces.net which compiles data from a variety of sources, primarily the U.S. Census Bureau.
We have defined “Susceptible Industries” as Hospitality/Accommodation, Food & Beverage, Construction, Arts, Entertainment, and Recreation. Data is taken from BestPlaces.net which compiles data from a variety of sources, primarily the U.S. Census Bureau.
