| Understanding Your Industry
We provide a flexible
approach for identifying the key industries in your area's economy.
Specifically, the framework is designed to provide users with
assistance in:
What will understanding your industry do for me?
This framework will take you through several different quantitative
and qualitative tools for identifying the key industries in
your area. Using data from on-line sources, you will be able
to calculate share of employment, location quotients, and shift
share analysis, among other things. Adding the use of qualitative
criteria in identifying your industry clusters will further
refine understanding of your local economic base. The whole
process should take you a few hours, and your results will be
similar to what many cities and regions pay private consultants
to do.
Understanding the key industries in your area will allow you
to develop improved strategies for economic development, by
helping to focus on these dynamic sectors of your economy. We
also hope that you will visit the site often and use it as a
resource for information on data, analytical techniques, and
economic development generally. |
