9 months ago

Clarksville- Main File


STAKEHOLDER THEMES Clarksville enjoys an economy with a strong manufacturing base and the presence of a large diversity of typical supply chain industries. Local businesses export a large share of their production, which brings outside money into the economy. Conversely, however, local businesses depend heavily on imported goods and services. This represents opportunities for local businesses to diversify their customer base by selling more to each other. • Cluster industries represent only about 15% of the total economy, which indicates a highly diverse economy. • Clarksville has well-developed and appealing industrial parks and commercial properties with high quality occupants and room for growth. • There is a shortage of office space, particularly Class A office space. Further developments of this type of property could help attract corporate investment that would provide for higher technology-based jobs. 68 COMPREHENSIVE LABOR ANALYSIS: CLARKSVILLE-MONTGOMERY COUNTY

PEER REGION ANALYSIS Clarksville is comparable to several geographies and cities using a variety of factors and specifications. Because of this, there are multiple ways to go about benchmarking to find the most compatible peer regions for Clarksville. KEY HIGHLIGHTS Most Similar Peer Regions (in terms of jobs, share of manufacturing, and GRP) • Duo Peer Regions: Topeka and Kansas City, Kansas • Individual Peer Regions: Rochester, Minnesota All of the peer regions have a higher share of population who hold a bachelor’s degree or higher. In this study, two different approaches were employed to determine Clarksville peer regions. The first was to determine peer regions based on geographical factors, specifically a smaller sized city, like Clarksville, and its proximity to a larger city. The focus for this first effort was to benchmark Clarksville’s geographical location in relation to Nashville, two other pairs of smaller sized cities and their larger counter parts were determined. From there, a duo region peer region analysis was conducted. The second method was to use the individual demographic and economic traits of Clarksville as a benchmark against other cities in the U.S. Using this method, unique emphasis was put specifically on population, GRP, and the manufacturing sector’s characteristics to find peer regions that have similar regional traits and growth trends as those in Clarksville. Peer Region Analysis 69

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