EDA Special Meeting Packet 11-09-2020

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SUMMARY OF RESEARCH AND RECOMMENDED STRATEGIES EDA STRATEGIC PLAN 14 Elk River Industry Mix - Location Quotient and Shift Share Analysis Industry Sector 2017 2010 Location Quotient 2017 Location Quotient 2010 Change in Location Quotient Elk River Minnesota Elk River Minnesota Job Count Share of All Jobs Job Count Share of All Jobs Share of All Jobs Share of All Jobs Manufacturing 1,891 16.1% 319,785 11.2% 11.7% 11.5% 1.43 1.02 1.40 Retail Trade 1,698 14.4% 287,652 10.1% 14.7% 10.8% 1.43 1.36 1.05 Educational Services 1,686 14.3% 266,547 9.4% 13.5% 9.7% 1.53 1.38 1.11 Public Administration 1,049 8.9% 125,567 4.4% 9.7% 4.6% 2.02 2.12 0.95 Health Care and Social Assistance 1,019 8.7% 482,650 17.0% 18.0% 16.4% 0.51 1.10 0.47 Construction 832 7.1% 128,442 4.5% 3.8% 3.3% 1.57 1.13 1.39 Accommodation and Food Services 767 6.5% 225,039 7.9% 4.1% 7.5% 0.82 0.54 1.53 Other Services (excluding Public Administration) 536 4.6% 92,891 3.3% 5.4% 3.4% 1.40 1.58 0.88 Transportation and Warehousing 441 3.8% 83,825 2.9% 4.0% 2.6% 1.27 1.54 0.82 Management of Companies and Enterprises 391 3.3% 84,362 3.0% 1.7% 3.8% 1.12 0.44 2.57 Professional, Scientific, and Technical Services 351 3.0% 163,548 5.7% 2.3% 5.0% 0.52 0.45 1.14 Finance and Insurance 253 2.2% 138,793 4.9% 1.7% 5.0% 0.44 0.34 1.29 Administration & Support, Waste Management and Remediation 243 2.1% 129,578 4.6% 3.8% 4.6% 0.45 0.83 0.54 Wholesale Trade 154 1.3% 133,538 4.7% 1.9% 4.9% 0.28 0.38 0.74 Utilities 106 0.9% 14,278 0.5% 0.5% 0.5% 1.80 0.89 2.02 Mining, Quarrying, and Oil and Gas Extraction 93 0.8% 5,740 0.2% 0.5% 0.2% 3.92 2.62 1.50 Real Estate and Rental and Leasing 89 0.8% 35,226 1.2% 0.6% 1.5% 0.61 0.37 1.64 Arts, Entertainment, and Recreation 88 0.7% 51,657 1.8% 1.0% 1.7% 0.41 0.57 0.73 Information 51 0.4% 52,669 1.9% 1.3% 2.2% 0.23 0.57 0.41 Agriculture, Forestry, Fishing and Hunting 20 0.2% 22,601 0.8% 0.1% 0.7% 0.21 0.10 2.11 Total 11,758 100% 2,844,388 100% 100% 100%