10 months ago

Clarksville- Main File


REGIONAL BUSINESS DYNAMICS KEY HIGHLIGHTS • 3,000 payrolled businesses • 17% firm growth • Many medium to large sized businesses • Self-employment rate: 7.5% Analyzing an area’s business mix provides a useful snapshot of the firm dynamics of a regional economy. The number, sizes, and types of firms say much about the character, dependencies, and growth opportunities within a region. The context of Montgomery County’s firm composition reveals several striking dimensions to the area’s economy. In 2016, there were nearly 3,000 firms with paid employees in Montgomery County. According to the U.S. Census’ County Business Patterns program, over 85% of those firms had 19 or fewer employees, which is relatively low for an area of this size. This means there are more medium to large sized businesses in the region than average—10% of businesses employ 20-49 people, and 5% employ over 50 people. The employment created by local entrepreneurs and second and third tier suppliers puts a positive pressure on the region’s development. In addition to the payrolled firms described above, Montgomery County has 4,400 self-employed individuals, a 7.5% self-employment rate. Montgomery County stands out above the national self-employment rate of 6.5% with most of these people working as construction and landscaping workers, hairdressers, and childcare workers. 34 COMPREHENSIVE LABOR ANALYSIS: CLARKSVILLE-MONTGOMERY COUNTY

TABLE 8: Number of Payrolled Businesses by Industry INDUSTRY 2016 PAYROLLED BUSINESS LOCATIONS All Industries 2,947 Retail Trade 530 Accommodation and Food Services 342 Health Care and Social Assistance 315 Construction 278 Other Services (except Public Administration) 269 Professional, Scientific, and Technical Services 249 Finance and Insurance 194 Administrative and Support and Waste Management and Remediation Services 149 Real Estate and Rental and Leasing 143 Wholesale Trade 119 Manufacturing 84 Transportation and Warehousing 63 Government 62 Educational Services 46 Arts, Entertainment, and Recreation 35 Information 34 Management of Companies and Enterprises 15 Crop and Animal Production 8 Mining, Quarrying, and Oil and Gas Extraction 4 Utilities 4 Source: Emsi FIRM GROWTH 2011–2016 17% Montgomery County TOP SELF-EMPLOYED IN MONTGOMERY COUNTY SELF-EMPLOYMENT RATES 1. Construction trades 2. Landscaping workers 15+15+13 Montgomery County 10-county Region U.S. 7.5% 7.5% 6.5% 3. Hairdressers 4. Childcare workers The Economy and Job Performance 35

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