Gap Analysis, Fastest Growing Industries 2002-2007_1

8/14/2019 Gap Analysis, Fastest Growing Industries 2002-2007_1

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Region Info

Region: Portales MSA

County Areas: Roosevelt, New Mexico (35041)

Best Industries To Meet Regional Requirements

NAICS Code Description $ Required(K) $ Satisfied in Region(K) Difference(K) In

Region324110 Petroleum refineries $27,021 $0 $27,021 no

622110 General medical and surgical hospitals $14,719 $0 $14,719 no

551114 Managing offices $8,307 $0 $8,307 no

522110 Commercial banking $8,170 $716 $7,455 yes

621111 Offices of physicians, except mental health $10,610 $4,402 $6,208 yes

531110 Lessors of residential buildings $6,167 $499 $5,668 yes

325199 All other basic organic chemical mfg. $5,362 $0 $5,362 no

531210 Offices of real estate agents and brokers $5,369 $282 $5,087 yes

311119 Other animal food manufacturing $6,284 $1,382 $4,903 yes

325412 Pharmaceutical preparation manufacturing $4,892 $0 $4,892 no

Source: EMSI Covered Employment - Fall 2008

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Fastest Growing Industries

NAICS Code Description 2002 Jobs 2007 Jobs Growth Growth %

722211 Limited-Service Restaurants 334 831 639 149%

930000 Local government 890 1,002 178 13%

624190 Other Individual and Family Services 75 194 160 159%

311911 Roasted Nuts and Peanut Butter Manufacturing 84 178 117 112%

920000 State government 1,179 1,180 102 0%

11A000 Agriculture 428 513 99 20%

311511 Fluid Milk Manufacturing


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Industries With Top Regional Competitiveness

NAICS

Code

Description Job

Change

Ind Mix

Effect

Nat Growth

Effect

Expected

Change

Competitive

Effect

722211 Limited-Service Restaurants 639 30 25 55 584

11A000 Agriculture 99 -94 32 -61 161

624190 Other Individual and Family Services 160 20 6 26 134

930000 Local government 178 4 67 71 107

311911 Roasted Nuts and Peanut Butter Manufacturing 117 6 6 12 105

311511 Fluid Milk Manufacturing 91 -1 0 0 91

623110 Nursing Care Facilities 47 0 0 0 47


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Top Multiplier Effects

NAICS Code Description Sales Multiplier In Region

814110 Private households 2.17 yes

491110 Postal service 1.93 yes

221310 Water supply and irrigation systems 1.92 yes

522120 Savings institutions 1.91 yes

522130 Credit unions 1.91 yes

311223 Other oilseed processing 1.90 no

311222 Soybean processing 1.90 no

311511 Fluid milk manufacturing 1.89 yes

621610 Home health care services 1.85 yes

522310 Mortgage and nonmortgage loan brokers 1.85 yes


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Fastest Growing Location Quotients

NAICS Code Description Size (Jobs) 5 Yr % Change LQ Current LQ

311911 Roasted Nuts and Peanut Butter Manufacturing 201 15019% 311.64

311511 Fluid Milk Manufacturing 97 3081% 32.90

486210 Pipeline Transportation of Natural Gas 27 1278% 19.06

115111 Cotton Ginning


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Data Sources and Calculations

Input-Output Data

The input-output model in this report is created using the national Input-Output matrix provided by the federal Bureau of Economic Analysis. This is

combined with the national Total Gross Output, the regional Total Gross Output, the land area of the subject region, regional DIRT data and regional

in/out commuter patterns in order to calculate regional requirements, imports and exports. After using matrix algebra to calculate the regional

multiplier, the resulting matrix is multiplied by the sales vector and converted back to jobs or earnings. Specifically, this data comes from the U.S.

Department of Commerce, Bureau of Economic Analysis, Industry Economic Accounts: Benchmark & Annual Input-Output (I-O) Accounts.

Industry Data

In order to capture a complete picture of industry employment, EMSI basically combines covered employment data from Quarterly Census of

Employment and Wages (QCEW) produced by the Department of Labor with total employment data in Regional Economic Information System (REIS)

published by the Bureau of Economic Analysis (BEA), augmented with County Business Patterns (CBP) and Nonemployer Statistics (NES) published

by the U.S. Census Bureau. Projections are based on the latest available EMSI industry data, 15-year past local trends in each industry, growth rates

in statewide and (where available) sub-state area industry projections published by individual state agencies, and (in part) growth rates in national

projections from the Bureau of Labor Statistics.

Shift Share

Shift share is a standard regional analysis method that attempts to determine how much of regional job growth can be attributed to national trends and

how much is due to unique regional factors.

Location Quotient

Location quotient (LQ) is a way of quantifying how concentrated a particular industry, cluster, occupation, or demographic group is in a region as

compared to the nation. It can reveal what makes a particular region unique in comparison to the national average.

State Data Sources

This report uses state data from the following agencies: New Mexico Department of Labor, Bureau of Economic Research and Analysis.

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Gap Analysis, Fastest Growing Industries 2002-2007_1