3 months ago

Clarksville- Main File

FIGURE 18: Industry

FIGURE 18: Industry Concentration, Montgomery County (2016), 5-digit NAICS Industry Jobs National Average 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 Restaurants and Other Eating Places Education and Hospitals (Local Government) Local Government, Excluding Education and Hospitals Other General Merchandise Stores Education and Hospitals (State Government) Source: Emsi Dataset 2017.3 To better gauge how industries are performing in Montgomery County and help determine where to concentrate economic development efforts, an analysis was performed on all industries with over 400 jobs. The indicators were job growth and job concentration (or LQ). All industries that showed a decline in job growth from 2011 to 2016 and had an LQ below 1.0 (percent below the national average) signified little promise to the local economy and were disregarded. Emerging industries are those industries which have job growth but which also have an LQ below 1.0. In other words, industries whose concentrations are currently lower than the national average but jobs are increasing. Specialty trade contractors, for example, may be an industry to watch. The more concentrated an industry, the more likely it is the industry is exporting products and services, thereby bringing wealth to the region. Industries important to the area have experienced healthy job growth and an LQ above 1.2. These industries are considered Montgomery County’s areas of specialty and can provide opportunities for industry and supply chain expansion. Critically, there are industries that are important to the region’s economy but may be struggling and need some attention. These industries reveal a loss in jobs over time but higher LQs. Textile product mills and nonmetallic mineral product manufacturing are highly unique to the region but have lost approximately 100 jobs over the five year period. See Figure 19, on the next page, for a summary of findings. 32 COMPREHENSIVE LABOR ANALYSIS: CLARKSVILLE-MONTGOMERY COUNTY

FIGURE 19: Montgomery County Industry Health Check POTENTIAL EMERGING IMPORTANT THAT MAY REQUIRE ATTENTION IMPORTANT GROWTH INDUSTRIES Speciality Trade Contractors Textile Product Mills Food Services and Drinking Places Professional, Scientific, and Technical Services Nonmetallic Mineral Product Manufacturing Administrative and Support Services Food and Beverage Stores Nursing and Residential Care Facilities Ambulatory Health Care Services Merchant wholesalers, Nondurable Goods Machinery Manufacturing Publishing Industries (except Internet) Accommodation General Merchandise Stores Merchant Wholesalers, Durable Goods Transportation Equipment Manufacturing Truck Transportation Real Estate Sporting Goods, Hobby, Musical Instrument, and Book Stores Credit Intermediation and Related Activities Repair and Maintenance Miscellaneous Store Retailers Motor Vehicle and Parts Dealers Social Assistance Clothing and Clothing Accessories Stores The Economy and Job Performance 33

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