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<br />SUMMARY OF RESEARCH AND RECOMMENDED STRATEGIES <br />EDA STRATEGIC PLAN 11 <br />Industry Mix <br />A defining characteristic of any local economy is the type of economic activity that its <br />businesses are involved in. Any city or county or region will have industries or business <br />types that are particularly prevalent. One way of characterizing this business mix is <br />through analyzing the NAICS (North America Industry Classification System) categories of <br />an area’s businesses. For cities, data is available that breaks down employment into 21 <br />NAICS categories. For larger geographies, a greater number of industry subsectors can be <br />analyzed. <br />The bar chart below shows the ten industry categories in Elk River that represent the <br />highest shares of employment. For example, 16.1% of the jobs in Elk River are with <br />businesses that are in the manufacturing sector. 14.4% of Elk River jobs are in retail sector <br />businesses. And so forth. In each case the share of employment in Elk River is compared <br />with that industry’s share of total employment state-wide. <br /> <br />Note that 75% of jobs in Elk River are in just seven industry sectors: <br />• Manufacturing <br />• Retail trade <br />• Educational services <br />• Public administration <br />• Health care and social assistance <br />• Construction <br />• Accommodation and food services