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<br />SUMMARY OF RESEARCH AND RECOMMENDED STRATEGIES <br />EDA STRATEGIC PLAN 13 <br />A more complete inventory of Elk River’s industry sector mix is represented by the pie chart <br />below. <br /> Source: U.S. Census Bureau, OnTheMap Application and LEHD Origin-Destination Employment Statistics <br />The following table provides a deeper additional analysis of Elk River’s industry mix. It lists <br />each of the city’s industry sectors starting with those which are most dominant in Elk River. <br />The ratio of the sector’s share of Elk River’s employment to the sector’s share of <br />Minnesota’s employment is called the location quotient. The manufacturing sector, for <br />example, comprises 16.1% of Elk River’s jobs, and only 11.2% of the state’s jobs. The <br />location quotient for the manufacturing sector is 1.43, because 16.1% ÷ 11.2% = 1.43. <br />When location quotients are higher than 1, that mean that the economic sector is an over- <br />represented industry sector in the local economy—which may represent a local economic <br />strength. The final column of the table takes the ratio of the current and past location <br />quotient to show whether the industry sector is strengthening or weakening over time. The <br />sector has strengthened as a component of the local economy if the change in location <br />quotient is higher than 1.0. <br />