Gap Analysis, Fastest Growing Industries 2002-2007_1

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 Region

324110

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

621111

Offices of physicians, except mental health

531110 325199

$8,170

$716

$7,455 yes

$10,610

$4,402

$6,208 yes

Lessors of residential buildings

$6,167

$499

$5,668 yes

All other basic organic chemical mfg.

$5,362

$0

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

$5,362 no

$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

920000

State government

11A000 311511 722410

Drinking Places (Alcoholic Beverages)

484230 623110

84

178

117

112%

1,179

1,180

102

0%

Agriculture

428

513

99

20%

Fluid Milk Manufacturing

<10

85

--

--

0

53

55

10000%

Specialized Freight (except Used Goods) Trucking, Long-Distance

248

271

53

9%

Nursing Care Facilities

<10

35

--

--

Source: EMSI Covered Employment - Fall 2008

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Industries With Top Regional Competitiveness

NAICS

Description

Code 722211

Limited-Service Restaurants

11A000

Agriculture

624190 930000

Job

Ind Mix

Nat Growth

Expected

Competitive

Change

Effect

Effect

Change

Effect

639

30

25

55

584

99

-94

32

-61

161

Other Individual and Family Services

160

20

6

26

134

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

Source: EMSI Covered Employment - Fall 2008

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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 Source: EMSI Covered Employment - Fall 2008

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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 486210

Fluid Milk Manufacturing

97

3081%

32.90

Pipeline Transportation of Natural Gas

27

1278%

19.06

115111

Cotton Ginning

<10

--

--

711130

Musical Groups and Artists

27

735%

11.97

115210

Support Activities for Animal Production

11

704%

7.04

624190

Other Individual and Family Services

234

619%

11.49

532120

Truck, Utility Trailer, and RV (Recreational Vehicle) Rental and Leasing

13

414%

4.14

221310

Water Supply and Irrigation Systems

<10

--

--

11A000

Agriculture

527

333%

13.32

Source: EMSI Covered Employment - Fall 2008

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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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