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Clarksville- Main File

THE ECONOMY AND JOB

THE ECONOMY AND JOB PERFORMANCE INDUSTRY KEY HIGHLIGHTS • $5 billion economy • 13% Job Growth Top employing industries: • Government • Retail trade • Accommodation and food services • Health care • Manufacturing Important industries that may require attention: • Textile product mills • Nonmetallic mineral product manufacturing • Nursing and residential care facilities • Machinery manufacturing Montgomery County has grown into a $4.92 billion economy following exceptional job growth over the past five years. The largest contributors (with the exception of government) include retail, followed by manufacturing and health care. Clarksville accounted for nearly all job growth and contributes 86% to the county’s overall gross regional product (GRP). GROSS REGIONAL PRODUCT (GRP) $19.3 billion 10-county $11.53 billion Clarksville MSA $4.92 billion Montgomery County $4.23 billion Clarksville 30 COMPREHENSIVE LABOR ANALYSIS: CLARKSVILLE-MONTGOMERY COUNTY

TABLE 7: Job Performance 2011 2016 NUMERIC CHANGE COMPOUND ANNUAL GROWTH RATE Clarksville 50,863 57,608 6,745 2.5% Montgomery County 51,647 58,483 6,836 2.5% 10-county 186,351 197,222 10,871 1.1% Source: Emsi Dataset 2017.3 Manufacturing is the largest private industry sector in the 10-county region, although it is not Montgomery County’s largest sector. Government, retail trade, accommodation and food services, and health care are all larger employers than manufacturing in Montgomery County. To understand Montgomery County’s most critical industries, we measure jobs by their concentration, or location quotient. Location quotients, or LQ, measures a region’s industry concentration compared to the nation. We also analyze the region’s gross regional product (GRP), and job growth. The staffing patterns of these critical industries can be used to identify driver occupations. FIGURE 17: Share of Total Jobs by Region, 2016 Clarksville Montgomery County 10-county 0% 5% 10% 15% 20% 25% 30% 35% Government Retail Trade Accommodation and Food Services Health Care and Social Assistance Manufacturing Admin., Support, Waste Mgt., Remediation Services Construction Other Services (except Public Administration) Professional, Scientific, and Technical Services Finance and Insurance Wholesale Trade Real Estate and Rental and Leasing Information Transportation and Warehousing Educational Services Arts, Entertainment, and Recreation Management of Companies and Enterprises Mining, Quarrying, and Oil and Gas Extraction Crop and Animal Production Utilities * sorted by Montgomery County Source: Emsi Dataset 2017.3 The Economy and Job Performance 31

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