|
| |
agri |
mine |
cnst |
mfg |
T/U |
whol |
retl |
fire |
serv |
totl |
Employment Distribution |
Emp. Distribution Yr. 1 Rate |
0.92% |
1.04% |
4.34% |
11.74% |
5.55% |
5.25% |
14.94% |
10.22% |
45.98% |
100.00% |
Emp. Distribution Yr. 1 Index |
0.50 |
1.97 |
0.77 |
0.82 |
0.99 |
1.04 |
0.86 |
1.33 |
1.10 |
1.00 |
Emp. Distribution Yr. 3 Rate |
0.96% |
0.07% |
4.48% |
11.41% |
5.28% |
5.36% |
15.32% |
10.24% |
46.87% |
100.00% |
Emp. Distribution Yr. 3 Index |
0.52 |
0.15 |
0.75 |
0.86 |
0.98 |
1.05 |
0.87 |
1.33 |
1.10 |
1.00 |
About
the Area Vitality Measures
Startup Activity:
Along with branch development, the startup activity
index is the surest indicator of an area's ability to generate economic
dynamism from new sources. The Startup Activity Rate measures the percentage
of firms which began operations over the last year and compares them to
the number of firms doing business in the area for which ages can be identified.
The Startup Activity Index benchmarks the result against national startup
patterns.
New Branch Attraction:
Since new branch facilities are not included
in the Startup Activity Index, ratings for new branch development provide
an important supplement to the picture of new facility vitality in any
area. Along with entrepreneurial vitality, new branches create important
support for regional growth and are often used as indicators of business
perception. New branches also tend to be more stable than entrepreneurial
starts. The Branch Attraction Rate analyzes recently developed branch
facilities as a percentage of business facilities in the area and sector.
The Branch Attraction Index compares local to US average activity.
The timing of new branch development cannot be tracked as precisely as
entrepreneurial startup activity. The branch attraction analysis generally
captures branches developed over the previous year, but reporting procedures
can distort the actual "start" date of some number of branch
facilities, which may be older than the databases in which they first
appear.
Employment and Sales Distribution:
Healthy economic diversity and balance can be assessed by reviewing employment and sales distribution data. Rates shows the percentage of sales or jobs as a percentage of the total area economy. The two decimal index compares the local concentration to national averages.
Sales Growth Index:
Sector by sector analysis of area sales vitality is indicated by the Sales Growth Index, which compares sales growth percentages of locally operated firms with national sales growth in each sector. For this measure, all company sales are attributed to headquarters locations. As in all indices in this report, US = 1.00.
Business Failure:
Business failure rates are calculated from the
pools of firms and establishments doing business at the start of the analysis
period. There are separate measures for companies and for all establishments.
Firms are tracked for three years. The number of those remaining in operation
three years later is compared to the original group, yielding a Business
Failure Rate. The Business Retention Index compares local to US failure
rates; in the indicies, higher is better. Areas with high vitality performance
-- especially high entrepreneurial, new branch attraction and business
in-migration rates -- often develop relatively low retention rates. Conversely,
low growth areas often indicate high retention rates as testament to a
less dynamic competitive environment. This analysis does not separate
out relocating firms, creating error margins averaging less than 0.2%
for states and 0.6% in metro areas and counties.
About the data:
This Profile creates a picture of area economic
vitality largely unavailable from other sources. Utilizing data on over
18 million US business establishments, the Profile analyzes entrepreneurial
vitality, new branch attraction, concentrations of high growth firms by
sales and employment measures and area business survival trends. By tracking
and aggregating the actual performance of millions of individual business
facilities, BizMiner Area Profiles provide measures of area business vitality
that are far more dynamic than "snapshot" job statistics or
indirect indicators such as population or construction activity. Indexed
scores benchmark the local area against US average performance in the
same category. All indices are benchmarked against national rates of 1.00;
across all indices (including the Retention Index), higher is better for
local areas.
Detailed explanations of measures can
be found on the last page of this profile. Area profiles on over 3,000
US states, metropolitan areas and counties can be accessed online at www.bizminer.com.
Analysis by detailed industry trends at the local and national levels
are available through our 1,000,000 online Marketing Research Profiles. Industry
financial benchmarks on 40,000 business segments are online at www.bizminer.com.
BizMiner
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