Economic Base Assessment presentation
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This document summarizes the goals and methodology of a study assessing the economic base of the Miami Valley region from 1970 to 2000. The study aimed to provide an in-depth review of the region's economy compared to Ohio and the US through analyzing indicators such as income, business establishments, and employment by industry. It conducted location quotient and shift-share analyses using 1970 and 2000 employment data to understand the region's economic base and changes over time due to reference area growth, industry mix, and regional shift effects. The full report is available online.
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Economic Base Assessment presentation
- 1. Miami Valley Economic Base Assessment Board of Directors January 5, 2006
- 2. Study Goals 9 Follow up to the 2005 State of the Region report to conduct more in depth review of the economic attributes in the Region The Miami Valley Region Greenville Troy Darke County Springfield Miami County Clark County WPAFB Eaton Dayton Study Area 9 8 Counties of the Miami Valley Region Xenia Preble County Montgomery County Hamilton Lebanon Greene County M I C H IG A N IN D I A N A OHIO PENNSYLVAN 9 Provide a statistical measure of where the Region’s economy stands in comparison to the State of Ohio and to the US Butler County Warren County WE ST K EN T U C K Y VI R G I N
- 3. Economic Indicators Review Income 9 Per Capita Income 9 Average Wage Business 9 Business Establishments 9 Business Starts Labor Force 9 Employment by Industry 9 Employment by Occupation 9 Employment Participation
- 4. Income – Per Capita Income
- 5. Business – Business Establishments
- 6. Labor Force – Employment by Industry
- 7. Economic Base Analysis Conducted Location Quotient and Shift-Share Analysis to assess the Region’s Economic Base Analysis Framework 9 Used 1970 and 2000 Employment Data by Industry 9 Used State of Ohio and US as a Reference Area
- 8. Location Quotient Analysis Measures the relative concentration of each industry sector in the regional economy
- 9. Shift-Share Analysis Measures the relative changes that have taken place over time and reveals real growth versus apparent growth Separates economy growth into 3 components 9 Reference Area Growth Effects 9 Industry Mix Effects 9 Regional Shift Effects
- 12. Study Report and More Available in PDF at www.mvrpc.org/rlu