Indian River County, Florida Target Industry Analysis

Transcription

1 , Florida Target ndustry Analysis October 1, 2015 Appendix to Economic Development Strategic Positioning Action Plan Approved March 3, 2015 Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 1 1

2 Table of Contents Section 1 Executive Summary 3 Section 2 Project Goals and Process 7 Section 3 The Target ndustry Detailed Analysis 10 Section 4 The Target ndustry Specific Analysis 27 Appendix: NACS Code Definitions 135 Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 2 2

3 Section 1: Executive Summary 1.1 s Regional Economy Target ndustry Specific Analysis Core Economic Development Strategies for 6 Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 3 3

4 Section 1.1: Executive Summary s Regional Economy s Regional Economy An analysis of s current industries at the 2-digit NACS code level was completed. A three pass analysis was used to come up with a list of potential target industries for. The first pass was to evaluate the four-county region of Brevard, ndian River, Martin, and St. Lucie counties, to see which industries were strong in the region. The second pass was to evaluate input from the qualitative research conducted in the previous study. The third pass was to compare s industries to that of the region and the U.S. Key Findings has a diverse mix of industries that, on average, have experienced positive 5-year growth. Average annual wages in are slightly higher than that of the region; however, they are lower than that of the U.S. The largest industries based on number of employees are: Retail Trade Health Care and Social Assistance Accommodation and Food Services The industries with the highest concentration include: Agriculture Arts, Entertainment and Recreation Retail Trade The following three industries had the highest 5-year growth from : Utilities Waste Management and Remediation Services Other Services (Except Public Administration) From this analysis, seven industries were identified to explore further in order to identify specific subsectors in which excels. 1. Agriculture, Forestry, Fishing and Hunting 2. Manufacturing 3. Transportation and Warehousing 4. nformation 5. Finance and nsurance 6. Professional, Scientific and Technical Services 7. Health Care and Social Services Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 4 4

5 Section 1.1: Executive Summary Target ndustry Specific Analysis Target ndustry Specific Analysis A 6-digit NACS code analysis was completed on the seven industries on the previous page in order to identify a list of potential target industries. This analysis involved a three-pass system. The first pass was the 2-digit NACS code analysis. n the second pass, these industries were classified as stars or opportunities and/or included in the top 10 sectors based on employment for the 6-digit NACS code analysis. The industries that were mentioned in the employer or stakeholder interviews were also included in this list, which was the third pass of the analysis. All of these finalist industries were then screened further based on discussion with the Planning Division and Chamber of Commerce staff to generate the final list of target industries as listed below. 1. Ammunition and Related 2. Environmental Consulting Services 3. Computer Systems Design Services 4. General Warehousing and Storage 5. General Freight Trucking, Local 6. Animal Production and Aquaculture 7. Farming Management Solutions 8. Specialized Clinics Key Findings Many subsectors in seem to be driven by population and the economy. These industries, while important to the economy, tend to be followers not leaders. Stakeholders felt that environmental services and green industries would be a good fit for the county/region. This subsector was also identified as an opportunity, therefore environmental consulting services was considered as a target industry. is already getting leads in the warehousing industry. With its unique set of assets and location, could be a good distribution center for companies. This would also provide opportunities in other industries, such as trucking. Although health care is a broad industry, has the opportunity to continue to attract specialized clinics, which would bring new wealth into the county and improve quality of life. has a group of original equipment manufacturers (OEMs), which should be the focus of business retention and expansion efforts, rather than trying to recruit other large OEMs that may be competitors. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 5 5

6 Section 1.1: Executive Summary Core Economic Development Strategies Core Economic Development Strategies for After identifying the target industries that should focus on, Ady Advantage also recommended strategies that will complement the recruitment strategy and drive the county s economic development efforts. Targeted Recruitment/Attraction: This includes targeting the industries identified through this report. Business Retention and Expansion (BRE): s economic development plan includes a considerable amount of time and effort on BRE and Ady Advantage recommends that this continues. Small Business Development and Entrepreneurship: has various assets, programs and incentives for small businesses, which can also be a means for diversification and growth. Original Equipment Manufacturer (OEM) and Supply Chain: is unique, in that it has many large OEM s in the county and the surrounding region. These companies have a great impact on the local/regional economy. Ady Advantage does not recommend recruiting businesses that compete directly with these companies, but should have a special focus on these OEMs. This can be by providing things like workforce training or recruiting businesses to support the OEMs supply chains. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 6 6

7 Section 2: Project Goals and Process 2.1 Project Goals Project Process 9 Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 7 7

8 Section 2.1: Project Goals Project Goals Use Economic Modeling Systems, nc. (EMS) data, as well as knowledge gained from the previous positioning research, completed by Ady Advantage, to gain an objective understanding of the county s current industries and to determine/confirm which specific target industries should focus on. These recommendations can then be used to effectively market the region and recruit these specific targeted industries. Deliverables Target industry analysis at the 2-digit NACS code level Specific target industry analysis at the 6-digit NACS code level Target industry specific asset maps Project Approach Our project approach was designed to provide the best possible outcomes based on a methodology that is strategic, integrated and practical: Strategic to make sure your overall business goals are met; ntegrated within one consultancy to ensure that momentum, context and efficiencies are optimized; And practical in that we know how to communicate with your target audiences based on our work with hundreds of other EDOs, and in our position as site selectors. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 8 8

9 Section 2.2: Project Approach DSCOVER Previous positioning research (including on-site visit, primary research from stakeholders and secondary research) Research of existing industries in region and county DSTLL Target industry identification Competitive positioning for each target industry DO Target ndustry & Business Recruitment Recommendations Brand Audit and Recommendations Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 9 9

10 Section 3: The Target ndustry Detailed Analysis 3.1 Overview and Current Economic Drivers Summary of Previous Target ndustry Assessment Detailed Target ndustry Analysis 13 Graph 3.3.A Four-County Region ndustry Analysis 16 Graph 3.3.B Current ndustry Analysis 19 Table 3.3.A Existing ndustry Concentration Comparison 20 Table 3.3.B Existing ndustry Wage Comparison 22 Table 3.3.C Existing ndustry Growth Comparison ndustries Recommended for Further Analysis 26 Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 10 10

11 Section 3.1: Overview and Current Economic Drivers Overview This report analyzes data and presents recommendations for industries that can use to target its recruitment efforts. t builds from the Economic Development Strategic Positioning and Action Plan study accepted on March 3, 2015, by the Board of County Commissioners. That study included a qualitative assessment of s current target industries, along with substantial research on the county s economic assets and optimal positioning. As such, this document should be viewed as an Appendix to that body of work which delves more deeply into recommended target industries based on the research described below. The successful identification of target industries is as much an art as it is a science. Over the years, Ady Advantage has fine-tuned its approach to these types of studies to incorporate a breadth of both quantitative and qualitative data. n this analysis for, we included thousands of data points from proprietary and public databases, as well as input from over 120 business owners and stakeholders gathered during one-on-one interviews and input sessions over a several month period. We conducted three separate filters of this information to help ensure that the viable potential target industries were discovered. Any industries that stood out in any of the three passes were then earmarked for more in-depth scrutiny before ultimately being recommended as a target industry for. For reference, the findings of the qualitative review included in the Strategic Positioning Action Plan is provided on the following page. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 11 11

12 Section 3.2: Summary of Previous Target ndustry Assessment Current Target ndustries List The industries outlined within the 2030 Comprehensive Plan are as follows: Clean Energy Life Sciences nformation Technology Aviation/Aerospace Financial/Professional Services Manufacturing/Warehouse/Distribution Emerging Technologies Arts, Entertainment, and Recreation Post Secondary Public and Private Educational nstitutions Other Clean Light ndustries This list, according to the 2030 Comprehensive Plan, is an adoption of the state of Florida s targeted industries within with the addition of Post Secondary Public and Private Educational nstitutions and Other Clean Light ndustries. Original Assessment The list of general industries above is not very targeted. n site selection there is a saying, f you specialize in everything you are specialized in nothing. This means that having a laundry list of industries that you believe should target shows to site selectors and businesses that you don t truly understand your value proposition or your key differentiating factors that make unique. Targeted industries should also be more focused for the same reason. Manufacturing/Warehouse/Distribution is very broad and is probably an industry targeted by almost every economic development organization in some way, shape, or form. But, for example, Wood Products Manufacturing is much more specific and just reading the title conveys to site selectors and businesses that the county/region knows it has a unique advantage within that industry. The comprehensive plan also stated that the County s list of target industries should match the State s Target ndustry List. We disagree with this statement for a couple of reasons but the main reason is as follows. The state covers a much broader geographic scope. Within the state are very different communities with diverse economies. One could even argue that the State of Florida has one of, if not the most, diverse economy in the nation. For example Jacksonville is very different than Miami. Both have advantages and can be attractive to businesses and both are in Florida. You would not expect to see them targeting identical industries. Nor should they as each region has their own unique strengths. However, the State of Florida needs to communicate and describe the types of businesses for the entire state as a whole and does so with a broad, sweeping brush. has the opportunity to hone in on its key advantages and unique fits when it comes to target industries so it may truly differentiate itself and stand out from other counties and regions within the state and within the nation. n this case, depth is better than breadth. To hone in on a more focused target industry list, the following detailed target industry analysis was conducted. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 12 12

13 Section 3.3: Detailed Target ndustry Analysis Methodology and Purpose To identify the region s economic drivers, data on industry concentration and historic growth were gathered for several specific industry clusters; the data covered, as well as Brevard County, Martin County, and St. Lucie County, referred to as the region. We then will drill down into the data for and provide comparisons between, the four-county region, and the U.S. as a whole for additional insights. The clusters are defined by the North American ndustry Classification System (NACS) and the data for this analysis was licensed from Economic Modeling Systems nc. (EMS). Note that while EMS provides information on industries and their impact on the local economy, it does not include identities of specific firms. Additional information about EMS s data and how its used for economic development are provided below. EMS nformation on Data Descriptions and Sources: EMS for Economic Development: Our methodology focuses on industry size (measured by number of employees), industry growth or contraction (measured by historic change in employment from 2010 to 2014), industry concentration, as well as wages by industry. We used the most recent five-year period for the historical analysis. Note that according to the U.S. National Bureau of Economic Research, the Great Recession began in December 2007 and ended in June ndustry concentration is measured using a location quotient methodology. A location quotient measures the presence of industry employment within a specific region compared to national averages. For example, if a region has a location quotient of 1.25 this means the industry s share of regional employment is 25% higher than would be expected based on the industry s share of national employment. We took three separate passes at the data from different perspectives and/or sources to help ensure that we captured all the viable potential target industries. The three passes were: Primary Data Source Context First Pass EMS relative to the region and to the nation Second Pass On-Site Research Primarily on, but also relative to the region, state, and nation Third Pass EMS f an industry surfaced as remarkable under one or more of the passes, they were included in the list of contenders shown at the end of this section and included for further analysis and vetting in Section 4 of this appendix. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 13 13

14 Section 3.3: Detailed Target ndustry Analysis (continued) Results Presented on Graphs The various bubble charts, shown on pages 14 and 17, graphically show this first-level industry analysis. The same analytical and graphical approach is used throughout this target industry analysis to help visually show the various industries at increasingly granular levels of analysis (e.g., from a 2-digit level up to and including a 6-digit analysis). n each graph, the X-axis is the historic growth or contraction by industry over time; the Y-axis identifies the industry location quotient, and the size of the industry cluster circle represents the number of employees in the region. The graph breaks into four quadrants, split by industries above and below 0% growth, and those above and below average concentration (LQ = 1.0. The four quadrants reflect four general approaches to the industries, which we use as a starting point and then adjust based on the specific dynamics within a client s region as well as our experience in conducting similar analyses in many diverse regions. The general approaches to each of the four quadrants are as follows: Stars (Gold): Positive Growth / Above Average Concentration: ndustries that currently drive the economy. They have been positive contributors to economic growth and there is a high-level of existing specialization and economic infrastructure; therefore, the region is likely competitive in those industries. These industries are often ideal targets for growing existing industry and attracting new industry. Mainstays (Blue): Negative Growth / Above Average Concentration: These industries represent a very important part of the economy, but they have not been contributing to growth, and may in fact be contributing to job loss. t is important that these industries be aggressively supported through retention efforts to ensure they can continue to play a significant role in the economy. Opportunities (Green): Positive Growth / Below Average Concentration: These industries have been growing, but are not currently well represented in the regional economy. f the regional economic infrastructure is able to support the operational requirements of these businesses, there is the opportunity to develop future stars. To foster such opportunities, economic development organizations need to develop needed infrastructure and be engaged in attraction. Reactive (Red): Negative Growth / Below Average Concentration: These industries are not well represented in the region and have not been growing. As such, they should only be targeted in reaction to some need or opportunity, as such need or opportunity arises. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 14 14

15 Section 3.3: Detailed Target ndustry Analysis (continued) First Pass Analysis: Evaluating the Four-County Region The four-county regional economy, encompassing the counties of Brevard, ndian River, Martin, and St. Lucie, is relatively stable and diverse with several key industries such as Agriculture, Forestry, Fishing, and Hunting. n the past five years, industries in the four-county region averaged 3% growth, one percent less than growth in, and lower than the national average of 7% for the same period. The average 2014 regional wages were about $1,500 less than s average wage of $44,333; both the regional and average wage was less than the national average of $50,596. n order to determine which industries in should be explored more deeply, the four-county regional economy (page 8) was evaluated and then compared to s economy on the basis of employment, concentration, average wages, and historical growth. Based on this first pass, the general industry categories that should be further analyzed and refined are shown below (and indicated in bold in the diagram legend on page 8): Manufacturing Transportation and Warehousing Professional, Scientific, and Technical Services (although classified as a reactive industry in the four-county region, it is an opportunity for ndian River County) Health Care and Social Services Note that additional industries will be added to this list as a result of deeper analysis provided later in this report. These four industries have been singled out because of their size, growth potential, perceived fit with s assets, and the possibility of positively impacting them from an economic development standpoint. n general, the following industries will not be analyzed any further: Mainstay industries, defined as those in the upper left quadrant of the graph on the following page, unless there are specific niches worthy of exploratory research (an example which arises later is aquaponics which is part of the current mainstay industry Agriculture, Forestry, Fishing, and Hunting). Consumer-based industries, such as Accommodations and Food Services and Retail Trade, which tend to follow not drive economic activity. Real Estate and Construction industries, which are cyclical and industries that most economic development organizations want to diversify away from. Education and Health Care like consumer-based industries, both Education and Health Care can be economic supporters, not necessarily the drivers. n, both of these are very important assets and worthy of continued attention and development outside of the traditional business recruitment and expansion of economic development. Based on our understanding of health care services within, we have kept them in the list above for further exploration. n particular, specialized health care can be a way to bring wealth into the county from outside the area. Most reactive industries, defined as those in the lower left quadrant of the graph on the following page, because of the negative growth and low location quotient (LQ). Examples include Finance and nsurance as well as Wholesale Trade. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 15 15

16 1 Section 3.3: Detailed Target ndustry Analysis (continued) Graph 3.3.A: Four-County Region ndustry Analysis 1.60 MANSTAYS STARS l 1.20 Specific ndustry Growth (2010 to 2014) % -15% -5% 5% 15% 25% 35% oj_ REACTVE OPPORTUNTES t 0.00 ndustry Concentration (LQ) Agriculture, Forestry, Fishing and Hunting (NACS 11) 2 Mining, Quarrying, and Oil and Gas Extraction (NACS 21) 3 Utilities (NACS 22) 4 Construction (NACS 23) 5 Manufacturing (NACS 31-33) 6 Wholesale Trade (NACS 42) 7 Retail Trade (NACS 44-45) 8 Transportation and Warehousing (NACS 48-49) 9 nformation (NACS 51) 10 Finance and nsurance (NACS 52) 11 Real Estate and Rental and Leasing (NACS 53) 12 Professional, Scientific, and Technical Services (NACS 54) 13 Management of Companies and Enterprises (NACS 55) 14 Administrative and Support Services (NACS 561) 15 Waste Management and Remediation Services (NACS 562) 16 Educational Services (NACS 61) 17 Health Care and Social Assistance (NACS 62) 18 Arts, Entertainment, and Recreation (NACS 71) 19 Accommodation and Food Services (NACS 72) 20 Other Services (except Public Administration) (NACS 81) 21 Government (NACS 90 ) Circle Size = Number of employees in the 4-County Region Source: Economic Modeling Systems nc. (EMS) Ady Advantage Total Employees in Region: 362,599 = 10,000 employees Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 16 16

17 Section 3.3: Detailed Target ndustry Analysis (continued) Second Pass Analysis: Evaluating nput from Qualitative Research Conducted in Previous Study The next level of analysis included a review of the qualitative input from the Economic Development Strategic Positioning Action Plan (input from employers and stakeholders) which suggested specific industries or niches to consider. These were taken at face value to be inclusive; further analysis, as warranted, will serve to vet them. Agriculture, Forestry, Fishing, and Hunting Aquaponics may offer opportunities. Manufacturing Aviation manufacturing services and aviation training services, both of which currently exist in the county; clean industry; ecologicallyfocused industries, and/or high-tech industries. Transportation and Warehousing has been trying to become part of the Port Canaveral Foreign Trade Zone 136; it is about 60 miles away. Professional, Scientific, and Technical Services A note that ndian River State College now has programs that support entomology, agriculture, Harbor Branch, and Smithsonian. t also offers a program in green screen technology through the Kight Center for Emerging Technologies. Florida Atlantic University has a campus in St. Lucie County that focuses on oceanographic research. High-tech industries were also identified in the qualitative research conducted earlier. Health Care and Social Services Florida nstitute of Technology is building the Duke Heart Center, a new school on the campus of the ndian River Medical Center, to help train and educate health care professionals. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date

18 Section 3.3: Detailed Target ndustry Analysis (continued) Third Pass Analysis: Comparing to the Region and Nation The third-level of analysis included a comparison of with the region and nation. Looking through this lens, the following industries were identified as warranting further exploratory research based on whether the industries showed growth over the past five years in and whether these industries are driving the economy (versus being a lagging indicator). Manufacturing Transportation and Warehousing nformation Finance and nsurance Professional, Scientific, and Technical Services Health Care and Social Services Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date

19 Section 3.3: Detailed Target ndustry Analysis (continued) 1 MANSTAYS 018 Graph 3.3.B: Current ndustry Analysis Specific ndustry Concentration (LQ) 7 i 1 Agriculture, Forestry, Fishing and Hunting (NACS 11) 2 Mining, Quarrying, and Oil and Gas Extraction (NACS 21) 3 Utilities (NACS 22) 4 Construction (NACS 23) 5 Manufacturing (NACS 31-33) 6 Wholesale Trade (NACS 42) 7 Retail Trade (NACS 44-45) 8 Transportation and Warehousing (NACS 48-49) 9 nformation (NACS 51) 10 Finance and nsurance (NACS 52) 11 Real Estate and Rental and Leasing (NACS 53) 12 Professional, Scientific, and Technical Services (NACS 54) 13 Management of Companies and Enterprises (NACS 55) 14 Administrative and Support Services (NACS 561) 15 Waste Management and Remediation Services (NACS 562) 16 Educational Services (NACS 61) 17 Health Care and Social Assistance (NACS 62) 18 Arts, Entertainment, and Recreation (NACS 71) 19 Accommodation and Food Services (NACS 72) 20 Other Services (except Public Administration) (NACS 81) 21 Government (NACS 90 ) Specific ndustry Growth (2010 to 2014) % -15% -5% 12 5% 15% 25% 35% 45% 55% REACTVE OPPORTUNTES e STARS Circle Size = Number of employees in Source: Economic Modeling Systems nc. (EMS) Ady Advantage Total Number of Employees: 46,958 = 1,000 employees Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 19 19

20 Section 3.3: Detailed Target ndustry Analysis: Current Economic Drivers Table 3.3.A: Existing ndustry Concentration Comparison ndian River County Total Employment Regional Total Employment ndian River County Cluster Concentration Regional Cluster Concentration Total All ndustries 46, , Agriculture, Forestry, Fishing and Hunting (NACS 11) 2,130 4, Mining, Quarrying, and Oil and Gas Extraction (NACS 21) Utilities (NACS 22) 31 1, Construction (NACS 23) 3,036 20, Manufacturing (NACS 31-33) 1,821 27, Wholesale Trade (NACS 42) 701 9, Retail Trade (NACS 44-45) 8,064 53, Transportation and Warehousing (NACS 48-49) 638 6, nformation (NACS 51) 643 3, Finance and nsurance (NACS 52) 1,253 9, Real Estate and Rental and Leasing (NACS 53) 998 5, Professional, Scientific, and Technical Services (NACS 54) 2,071 17, Management of Companies and Enterprises (NACS 55) 129 1, Administrative and Support Services (NACS 561) 1,917 23, Waste Management and Remediation Services (NACS 562) 112 1, Educational Services (NACS 61) 678 5, Health Care and Social Assistance (NACS 62) 8,529 58, Arts, Entertainment, and Recreation (NACS 71) 1,917 7, Accommodation and Food Services (NACS 72) 5,138 39, Other Services (except Public Administration) (NACS 81) 2,142 13, Government (NACS 90 ) 4,994 51, Source: Economic Modeling Systems nc. (EMS) ) Ady Advantage Note: Some comments reflect 3-digit NACS data, not provided in the table, to lend insight into the subsectors within an industry. LQ > than Region (by 0.2) LQ < than Region (by 0.2) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 20 20

21 Section 3.3: Detailed Target ndustry Analysis: Current Economic Drivers (continued) Comparison of ndustry Concentration (Table 3.3.A) There are some marked differences in concentration between and the 4-County Region. t is instructive to examine these differences because it helps indicate how fits within the larger region. Clusters where ndian River is more highly concentrated (highlighted in green). Agriculture, Forestry, Fishing, and Hunting (NACS 11) has the highest location quotient (LQ )of all the industries in (at a 2- digit NACS code level). However, industry growth has declined 18% over the past five years, on par with regional decline, but much less than the U.S. average growth of 6%. Subsectors include: Crop Production (NACS 111); LQ=3.07, growth=2% Animal Production (NACS 112); LQ=0.69, growth=39% Fishing, Hunting, and Trapping (NACS 114) is a small subsector but has an LQ= 2.06 Support Services for Crop Production (NACS 1151); LQ = 13.53, growth declined 25% The second most concentrated industry, with an LQ of 2.66, is Arts, Entertainment, and Recreation (NACS 71), mostly due to the Amusement, Gambling, and Recreation (NACS 713) industry. This industry, in both and the surrounding counties, declined over the past five years by 11% and 8%, respectively. However, nationwide the industry grew 10%. Golf courses, fitness, sports centers, and other amusement and recreational businesses employ almost 2,000 workers. Gambling employs less than 10 people. Retail Trade (NACS 44-45), with an LQ=1.53, grew an average of 7% across the board in the past five years. Real Estate (NACS 531), with an LQ=1.80, declined 2%, while Rental and Leasing Services (NACS 532), with an LQ=0.46, grew by 31%. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 21 21

22 Section 3.3: Detailed Target ndustry Analysis: Current Economic Drivers (continued) Table 3.3.B: Existing ndustry Wage Comparison Average Cluster Wage (Annual) Regional Average Cluster Wage (Annual) U.S. Average Cluster Wage (Annual) Total ndustry (Average Wage) $44,333 $42,751 $50,596 Agriculture, Forestry, Fishing and Hunting (NACS 11) $26,493 $27,251 $29,902 Mining, Quarrying, and Oil and Gas Extraction (NACS 21) $35,471 $50,140 $101,225 Utilities (NACS 22) $37,405 $115,696 $96,591 Construction (NACS 23) $36,111 $37,200 $53,769 Manufacturing (NACS 31-33) $47,259 $69,772 $62,009 Wholesale Trade (NACS 42) $145,050 $61,231 $69,739 Retail Trade (NACS 44-45) $25,274 $26,004 $28,310 Transportation and Warehousing (NACS 48-49) $37,318 $53,790 $48,256 nformation (NACS 51) $56,811 $55,146 $90,228 Finance and nsurance (NACS 52) $75,087 $60,290 $95,498 Real Estate and Rental and Leasing (NACS 53) $34,271 $32,601 $50,554 Professional, Scientific, and Technical Services (NACS 54) $58,548 $63,253 $84,914 Management of Companies and Enterprises (NACS 55) $116,016 $76,797 $111,671 Administrative and Support Services (NACS 561) $26,594 $35,945 $34,382 Waste Management and Remediation Services (NACS 562) $42,568 $46,090 $54,678 Educational Services (NACS 61) $33,296 $38,367 $46,000 Health Care and Social Assistance (NACS 62) $42,725 $44,564 $45,256 Arts, Entertainment, and Recreation (NACS 71) $31,468 $30,927 $34,832 Accommodation and Food Services (NACS 72) $18,876 $16,905 $18,322 Other Services (except Public Administration) (NACS 81) $27,753 $28,052 $33,216 Government (NACS 90 ) $45,488 $46,609 $50,914 Source: Economic Modeling Systems nc. (EMS) ) Ady Advantage wages > both regional and U.S. wages wages > only regional wages wages < both regional and U.S. wages by > $10,000 Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 22 22

23 Section 3.3: Detailed Target ndustry Analysis: Current Economic Drivers (continued) Comparison of ndustry Wages (Table 3.3.B) The desire to increase wages in is a theme echoed by the economic development stakeholders. Understanding if ndian River County outpaces the region in cluster wages could indicate specific industry clusters to target for growth. Regional average wage and county average wage are very similar but slightly behind the U.S. earnings. There are only three industry clusters where has significantly higher wages than both the regional and national averages (highlighted in green): Wholesale Trade (NACS 42) Management of Companies and Enterprises (NACS 55) Accommodation and Food Services (NACS 72) When we compare only and the four -county region, there are four industries in which ndian River has higher wages (highlighted in yellow): nformation (NACS 51) Finance and nsurance (NACS 52) Real Estate and Rental and Leasing (NACS 53) Arts, Entertainment, and Recreation (NACS 71) There are four industries where wages are significantly less (>$10,000) than both the wages found in the region and the U.S. (highlighted in orange): Mining, Quarrying, and Oil & Gas Extraction (NACS 21) Utilities (NACS 22) Manufacturing (NACS 31-33) Transportation & Warehousing (NACS 48-49) Overall, the data suggest that raising the county wage could be possible in the four industries indicated above where currently has a cost advantage over the region. There also may be opportunities in Transportation and Warehousing (NACS 48-49) as ndian River County is on par or has lower wages than the region. Lower wages can be used to attract new businesses, which in theory creates more demand for those workers resulting in increased wages over time. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 23 23

24 Section 3.3: Detailed Target ndustry Analysis: Current Economic Drivers (continued) Table 3.3.C: Existing ndustry Growth Comparison ndian River County 10-year Growth ( ) ndian River County 5-year Growth ( ) Regional 10-year Growth ( ) Regional 5-year Growth ( ) U.S. 10-year Growth ( ) U.S. 5-year Growth ( ) Total All ndustries -2% 4% -4% 3% 4% 7% Agriculture, Forestry, Fishing and Hunting (NACS 11) (0%) (18%) (14%) (20%) 5% 6% Mining, Quarrying, and Oil and Gas Extraction (NACS 21) * * * (34%) 22% 53% 31% Utilities (NACS 22) 121% 55% (36%) (21%) 0% 0% Construction (NACS 23) (46%) 16% (43%) 11% (16%) 11% Manufacturing (NACS 31-33) (15%) 4% (14%) 1% (14%) 6% Wholesale Trade (NACS 42) (9%) 5% (10%) (5%) 2% 7% Retail Trade (NACS 44-45) (2%) 7% (5%) 6% 0% 6% Transportation and Warehousing (NACS 48-49) 41% 7% 12% 17% 7% 12% nformation (NACS 51) (1%) 4% (25%) (20%) (10%) 1% Finance and nsurance (NACS 52) (19%) 2% (17%) (3%) (4%) 4% Real Estate and Rental and Leasing (NACS 53) (11%) 1% (18%) (1%) (4%) 7% Professional, Scientific, and Technical Services (NACS 54) 1% 1% (5%) (1%) 19% 13% Management of Companies and Enterprises (NACS 55) (16%) (23%) 27% 11% 23% 15% Administrative and Support Services (NACS 561) (5%) (6%) (24%) (8%) 6% 17% Waste Management and Remediation Services (NACS 562) 37% 26% 28% 33% 14% 8% Educational Services (NACS 61) 16% 12% 46% 12% 25% 9% Health Care and Social Assistance (NACS 62) 17% 9% 25% 7% 25% 11% Arts, Entertainment, and Recreation (NACS 71) (7%) (11%) 2% (8%) 13% 10% Accommodation and Food Services (NACS 72) 39% 20% 24% 16% 15% 13% Other Services (except Public Administration) (NACS 81) 26% 23% 4% 12% (2%) (3%) Government (NACS 90 ) (10%) (10%) 3% (3%) 1% (2%) Source: Economic Modeling Systems nc. (EMS) ) Ady Advantage *nsufficient Data - Not enough labor data to calculate percentage (started with <10 jobs) Note: Some comments reflect 3- and 4-digit NACS data, not provided in the table, to lend insight into the subsectors within an industry. Significant 5-year or 10-year growth compared to either the region or U.S. Significant difference in 5-year or 10-year compared to either the region or U.S. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 24 24

25 Section 3.3: Detailed Target ndustry Analysis: Current Economic Drivers (continued) Comparison of ndustry Growth (Table 3.3.C) Looking at growth by industry cluster between and the U.S. provides some indication of potential strengths. Over the year period, lost 2% of its jobs, less than half the rate in the region. n the past five years, county growth was positive, again topping regional rates, though neither showed the positive growth found in the U.S. during the same time period. The county has several industries that are growing faster than the U.S. average (highlighted in green): Utilities (NACS 22): Water, Sewer, and other systems (2213) grew 56% in the past five years and has a location quotient (LQ) of Utility industry wages are significantly lower in than either regional or national wages. Transportation and Warehousing (NACS 48-49) is a growing industry across the nation. The industry in and the region grew significantly over the past ten years, though the growth has slowed considerably in the past 5 years. With an LQ of 0.42, smaller than the regional LQ of 0.58, growth in stems primarily from Truck Transportation (NACS 484) and Warehousing and Storage (NACS 493). Waste Management and Remediation Services (NACS 562): Waste Collection (NACS 5621) in the county grew 41% and has an LQ of Services to Buildings and Dwellings (NACS 5617), though the LQ is 2.12, decreased by 5% in the past 5 years. Accommodation and Food Services (NACS 72) Other Services (except Public Administration) (NACS 81) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 25 25

26 Section 3.4: Detailed Target ndustry Analysis: ndustries Recommended for Further Analysis Summary of ndustries from Three Perspectives The table below summarizes the seven industries that are recommended for further exploration in the next section. ndustry Agriculture, Forestry, Fishing and Hunting First Pass (Compared to region, nation) Second Pass (Qualitative nput from Previous Study) Third Pass (ndian River County s strengths) Not ndicated ndicated ndicated Aquaponics Second-Pass Comments (specific suggestions for potential target industries from on-site research) Manufacturing ndicated ndicated ndicated Aviation services and training; clean industries; ecologically-focused industries; high-tech Transportation and Warehousing ndicated ndicated ndicated nformation Not ndicated ndicated Not ndicated Finance and nsurance Not ndicated ndicated Not ndicated Professional, Scientific and Technical Services Health Care and Social Services ndicated ndicated ndicated ndicated ndicated ndicated Entomology, agriculture, Harbor Branch, and Smithsonian; oceanographic research; clean industries; ecologically-focused industries; high-tech Health care via Florida nstitute of Technology Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 26 26

27 Section 4: The Target ndustry Specific Analysis 4.1 Overview Target ndustry Specific Analysis (6-digit) A Agriculture B Manufacturing C Transportation and Warehousing D nformation E Finance and nsurance F Professional, Scientific and Technical Services G Health Care and Social Assistance Target ndustry Recommendations-First Pass Analysis Target ndustry Recommendations-Second & Third Pass Analysis Target ndustry Recommendations Summary 118 Graph 4.5.A Recommended Target ndustries The Role of Business Recruitment in Context ndustry Specific Positioning 124 Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 27 27

28 Section 4.1: Overview Overview The following target industry analysis follows the same format as the analysis in Section 3. However, this section focuses on the seven industries identified in the 2-digit NACS code industry analysis. n order to find which specific industries drive s economy, a 6-digit NACS code analysis was done on the following industries. Agriculture (NACS 11) Manufacturing (NACS 31-33) Transportation and Warehousing (NACS 48-49) nformation (NACS 51) Finance and nsurance (NACS 52) Professional, Scientific and Technical Services (NACS 54) Health Care and Social Services (NACS 62) As stated above, this analysis will show, for example, which sub-industries within manufacturing are driving the overall industry, which are growing opportunities, and which are declining. This exercise helps provide a deeper understanding of the region and identify possible niche markets, allowing us to more accurately recommend the industries that are the best fit for the region. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 28 28

29 Section 4.1: Overview Methodology & Purpose To identify the region s economic drivers, data on industry concentration and historic growth were gathered for several specific industry clusters. The data covered, as well as Brevard County, Martin County, and St. Lucie County, referred to as the region. We then drilled down into the data for and have provided comparisons between, the four-county region, and the U.S. as a whole, for additional insights. The clusters are defined by the North American ndustry Classification System (NACS) and the data for this analysis was licensed from Economic Modeling Systems nc. (EMS). Note that while EMS provides information on industries and their impact on the local economy, it does not include identities of specific firms. Additional information about EMS s data and how it s used for economic development are provided below. EMS nformation on Data Descriptions and Sources: EMS for Economic Development: Our methodology focuses on industry size (measured by number of employees), industry growth or contraction (measured by historic change in employment from 2010 to 2014), industry concentration, as well as wages by industry. We used the most recent five-year period for the historical analysis. Note that according to the U.S. National Bureau of Economic Research, the Great Recession began in December 2007 and ended in June ndustry concentration is measured using a location quotient methodology. A location quotient measures the presence of industry employment within a specific region compared to national averages. For example, if a region has a location quotient of 1.25 this means the industry s share of regional employment is 25% higher than would be expected based on the industry s share of national employment. Note: Sectors with insufficient data are not included in the bubble plot graphs used in this section however, they were added back into the tables if they had employment information listed OR had a significant location quotient. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 29 29

30 Section 4.1: Overview Results Presented on Graphs The various bubble charts, shown in the following sections, graphically depict this first-level industry analysis. The same analytical and graphical approach is used throughout this target industry analysis to show the various industries at increasingly granular levels of analysis (e.g., from a 2- digit level up to and including a 6-digit analysis). n each graph, the X-axis is the historic growth or contraction by industry over time, the Y-axis identifies the industry location quotient, and the size of the industry cluster circle represents the number of employees in the region. The graph breaks into four quadrants, split by industries above and below 0% growth, and those above and below average concentration (LQ = 1.0.) The four quadrants reflect four general approaches to the industries, which we use as a starting point and then adjust based on the specific dynamics within a client s region as well as our experience in conducting similar analyses in many diverse regions. The graph is broken down into four quadrants as follows: Stars (Gold): Positive Growth / Above Average Concentration: ndustries that currently drive the economy. They have been positive contributors to economic growth and there is a high level of existing specialization and economic infrastructure; therefore, the region is likely competitive in those industries. These industries are often ideal targets for growing existing industry and attracting new industry. Mainstays (Blue): Negative Growth / Above Average Concentration: These industries represent a very important part of the economy, but they have not been contributing to growth, and may in fact be contributing to job loss. t is important that these industries be aggressively supported through retention efforts to ensure they can continue to play a significant role in the economy. Opportunities (Green): Positive Growth / Below Average Concentration: These industries have been growing, but are not currently well represented in the regional economy. f the regional economic infrastructure is able to support the operational requirements of these businesses, there is the opportunity to develop future stars. To foster such opportunities, economic development organizations need to develop necessary infrastructure and be engaged in attraction. Reactive (Red): Negative Growth / Below Average Concentration: These industries are not well represented in the region and have not been growing. As such, they should be targeted only in reaction to some need or opportunity, if one arises. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 30 30

31 Section 4.2.A Target ndustry Specific Analysis-Agriculture Graph 4.2.A: Current ndustry Analysis T ~ MANSTAYS l l STARS Ll - 4 Specific ndustry Concentration (LQ) ( ~ L/ Crop Production (NACS ) 2 Animal Production & Aquaculture (NACS ) 3 Soil Preparation, Planting & Cultivating (NACS ) 4 Postharvest Crop Activities (except Cotton Ginning) (NACS ) 5 Farm Labor Contractors & Crew Leaders (NACS ) 6 Farm Management Services (NACS ) ~ ~-- -/. ~ ~ Specific ndustry Growth (2010 to 2014) \ ~ -50% -40% -30% -20% -10% 0% 10% 20% 30% 40% 50% t t REACTVE l t OPPORTUNTES (2.00) l u Circle Size = Number of employees in Source: Economic Modeling Systems nc. (EMS) Ady Advantage Total Number of Employees: 2,130 = 100 employees Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 31 31

32 Section 4.2.A Target ndustry Specific Analysis-Agriculture Table 4.2.A.1 Existing ndustry Concentration Comparison Total Employment Regional Total Employment ndian River County Cluster Concentration Regional Cluster Concentration Total All ndustries 2,130 4, Crop Production (NACS ) 583 1, Animal Production (NACS ) Finfish Fishing (NACS )* <10 < Hunting and Trapping (NACS )* <10 < Soil Preparation, Planting, and Cultivating (NACS ) Crop Harvesting, Primarily by Machine (NACS )* Postharvest Crop Activities (except Cotton Ginning) (NACS ) 805 1, Farm Labor Contractors and Crew Leaders (NACS ) Farm Management Services (NACS ) Source: Economic Modeling Systems nc. (EMS) ) Ady Advantage *These industries are not included in the previous Bubble Plot due to insufficient data. LQ > than Region (by a difference of 1.00) LQ < than Region (by a difference of 1.00) LQ and Regional LQ are not significantly different Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 32 32

33 Section 4.2.A Target ndustry Specific Analysis-Agriculture Comparison of ndustry Concentration (Table 4.2.A.1) ndian River is more highly concentrated than the region and the U.S. average in all Agriculture subsectors that are found in the county. The ones marked in green on the previous page are those industries that have a location quotient that is significantly higher than the region s LQ by more than one. The only subsector in which ndian River does not have a significantly higher LQ is animal production. Both ndian River and the region have a lower LQ than the U.S. average in this subsector. Note: There are two subsectors on the previous page that were not included in the bubble chart due to insufficient data. These are included in the table because of their high location quotients. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 33 33

34 Section 4.2.A Target ndustry Specific Analysis-Agriculture Table 4.2.A.2: Existing ndustry Wage Comparison Average Cluster Wage (Annual) Regional Average Cluster Wage (Annual) U.S. Average Cluster Wage (Annual) Total ndustry (Average Wage) $26,493 $27,251 $29,902 Crop Production (NACS ) $33,807 $29,859 $28,531 Animal Production (NACS ) $34,040 $36,072 $32,972 Finfish Fishing (NACS )* ** ** $73,436 Hunting and Trapping (NACS )* ** ** $30,756 Soil Preparation, Planting, and Cultivating (NACS ) $40,826 $41,418 $38,335 Crop Harvesting, Primarily by Machine (NACS )* $31,129 $31,129 $29,836 Postharvest Crop Activities (except Cotton Ginning) (NACS --- $23,786 $23,791 $31, ) Farm Labor Contractors and Crew Leaders (NACS ) $17,348 $16,361 $20,182 Farm Management Services (NACS ) $30,560 $35,531 $34,748 Source: Economic Modeling Systems nc. (EMS) ) Ady Advantage *These industries are not included in the previous Bubble Plot due to insufficient data. **nsufficient data wages > both regional and U.S. wages wages > only regional wages wages < both regional and U.S. wages Wages are not significantly different than regional and/or U.S. wages Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 34 34

35 Section 4.2.A Target ndustry Specific Analysis-Agriculture Comparison of ndustry Wages (Table 4.2.A.2) Overall, the Agriculture annual average wages are lower in ndian River than in both the region and the U.S. The only industry in which ndian River has higher wages than the region and the U.S. (shaded in green) is Crop Production (NACS ). t also has higher wages than the region in the subsector of Farm Labor Contractors and Crew Leaders (NACS ) (shaded in yellow). There are two subsectors where ndian River has lower wages than both the region and the U.S. (shaded in red): Postharvest Crop Activities (except Cotton Ginning) (NACS ) Farm Management Services (NACS ) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 35 35

36 Section 4.2.A Target ndustry Specific Analysis-Agriculture Table 4.2.A.3: Existing ndustry Employment Growth Comparison ndian River County 10-year Growth ( ) ndian River County 5-year Growth ( ) Regional 10-year Growth ( ) Regional 5-year Growth ( ) U.S. 10-year Growth ( ) U.S. 5-year Growth ( ) Total All ndustries (0%) (18%) (14%) (20%) 5% 6% Crop Production (NACS ) (9%) 2% (24%) (1%) 1% 5% Animal Production (NACS ) 58% 39% 26% 51% 14% 7% Finfish Fishing (NACS )* ** ** ** ** (12%) (7%) Hunting and Trapping (NACS )* ** ** ** ** (7%) 10% Soil Preparation, Planting, and Cultivating (NACS ) (86%) (30%) (49%) 12% 13% 11% Crop Harvesting, Primarily by Machine (NACS )* 18% * (46%) * 30% 34% Postharvest Crop Activities (except Cotton Ginning) (NACS ) 10% (23%) (8%) (27%) 19% 8% Farm Labor Contractors and Crew Leaders (NACS ) 50% (38%) 5% (47%) 14% 11% Farm Management Services (NACS ) 79% 1% 12% (8%) 18% 22% Source: Economic Modeling Systems nc. (EMS) ) Ady Advantage *These industries are not included in the previous Bubble Plot due to insufficient data. **nsufficient data growth in the highlighted period > region and U.S. growth in that same period by greater than 10 percentage points. growth in the highlighted period < region and U.S. growth in that same period by greater than 10 percentage points. growth is not significantly higher or lower than both the region and the U.S.. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 36 36

37 Section 4.2.A Target ndustry Specific Analysis-Agriculture Comparison of ndustry Growth (Table 4.2.A.3) Overall, and the region as a whole experienced a decline in the Agriculture industry, while the U.S. industry average increased. Although ndian River s 10-year growth is positive in most subsectors, there is a significant decline in the 5-year period from The following are the subsectors in which the 5-year and/or 10-year growth exceeds that of the region and the U.S. by 10 or more percentage points (shaded in green): Animal Production (NACS ) Farm Management Services (NACS ) Farm Labor Contractors and Crew Leaders (NACS ) Soil Preparation, Planting, and Cultivating (NACS ) saw a negative growth in both the 5-year and 10-year periods, which was significantly lower than both the region and the U.S. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 37 37

38 Section 4.2.A Target ndustry Specific Analysis-Agriculture Rank Table 4.2.A.4 Existing Manufacturing ndustry Ranked by Number of Jobs, 5-Year Growth and Cluster Concentration Number of Jobs (2014) ndian River County 5-year Growth Cluster Concentration (LQ) 1 Postharvest Crop Activities (except Cotton Ginning) (NACS ) 805 (23%) (2) 2 Crop Production (NACS ) 583 2% (2) Farm Labor Contractors and Crew Leaders (NACS ) 427 (38%) 7.23 (3) 4 Farm Management Services (NACS ) 179 1% (3) (1) 5 Animal Production (NACS ) 57 39% (1) Soil Preparation, Planting, and Cultivating (NACS ) 42 (30%) Crop Harvesting, Primarily by Machine (NACS )* 26 * Finfish Fishing (NACS )* <10 * Hunting and Trapping (NACS )* <10 * 3.33 Source: Economic Modeling Systems nc. (EMS) ) Ady Advantage *These industries are not included in the previous Bubble Plot due to insufficient data. **nsufficient data Top three (3) in each (# Jobs, Growth, LQ) (rank) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 38 38

39 Section 4.2.A Target ndustry Specific Analysis-Agriculture ndustry Rankings Table (4.2.A.4) To further explore the Agriculture industry in, the six-digit NACS codes were used to rank the various sectors by (1) number of jobs, (2) growth, and (3) concentration, or LQ. This helps to ensure that no niche areas that may present an opportunity are overlooked. The list on the previous page includes the top three subsectors for each of the three factors. These are highlighted in green with a ranking number in parentheses. Postharvest Crop Activities (except Cotton Ginning) (NACS ) topped the chart with the most employees from the Agriculture sector, over 200 more employees than the next largest sector. The highest 5-year growth in the Agriculture industry was in the Animal Production sector (NACS ). There were only two other sectors with positive 5-year growth in this industry, but Animal Production had a significantly higher 5-year growth. Almost all of the Agriculture subsectors had a significant LQ, however, the top subsector is Farm Management Services, with an LQ of What does this mean? There are no subsectors that rank in the top three of all categories After the top three subsectors for 5-year growth, all other subsectors have negative growth Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 39 39

40 Section 4.2.A Target ndustry Specific Analysis-Agriculture Take-Aways Star ndustries Crop Production (NACS ) has a location quotient (LQ) of 3.07, which is 2.08 above the regional LQ. This subsector employs 583 people in ndian River. These employees, on average, earn $33,807, which is almost $4,000 more on average than their counterparts in the region and over $5,000 more than the U.S. average for this subsector. This is also one of the few Agriculture subsectors that showed positive growth in the county over the past 5 years, although it only grew by 2%. Farm Management Services (NACS ) has the highest LQ of all of the Agriculture subsectors in ndian River at 28.74, which is significantly higher than the regional LQ (10.74). This subsector has grown 79% in the past 10 years, but only 1% in the past 5 years. However, this is significantly higher 10-year growth than was seen in the region (12%) and the U.S. (18%). Farm Management Services employs 179 people in ndian River who earn, on average, $30,560 annually. These wages are less than those of the region and the U.S., which are $35,531 and $34,748 respectively. Opportunities Animal Production & Aquaculture (NACS ) only employs 57 people in ndian River and has an LQ below the U.S. average (0.69); however, this subsector of Agriculture has seen significant growth. Growth rates in the 10-year period were 58% and 39% in the 5-year period. Both periods saw significant growth compared to the rest of the region and the U.S. Wages for this subsector are average ($34,040); slightly lower than the region ($36,072) and slightly higher than the U.S. ($32,972). Mainstays Soil Preparation, Planting & Cultivating (NACS ) Postharvest Crop Activities (except Cotton Ginning) (NACS ) Farm Labor Contractors & Crew Leaders (NACS ) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 40 40

41 Section 4.2.B Target ndustry Specific Analysis: Manufacturing MANSTAYS Specific ndustry Concentration (LQ) Graph 4.2.B: Current ndustry Analysis o Specific ndustry Growth 14 (2010 to 2014) % 9 0% 50% 100% 150% 3 (0.50) REACTVE OPPORTUNTES Circle Size = Number of employees in Source: Economic Modeling Systems nc. (EMS) Ady Advantage STARS Frozen Fruit, Juice, and Vegetable Manufacturing (NACS ) 2 Curtain and Linen Mills (NACS ) 3 Commercial Printing (except Screen and Books) (NACS ) 4 Nitrogenous Fertilizer Manufacturing (NACS ) 5 Rubber and Plastics Hoses and Belting Manufacturing (NACS ) 6 Ready-Mix Concrete Manufacturing (NACS ) 7 Cut Stone and Stone Product Manufacturing (NACS ) 8 Other Aluminum Rolling, Drawing, and Extruding (NACS ) 9 Machine Shops (NACS ) Other Commercial and Service ndustry Machinery Manufacturing (NACS ) 11 Cutting Tool and Machine Tool Accessory Manufacturing (NACS ) 12 Aircraft Manufacturing (NACS ) 13 Wood Kitchen Cabinet and Countertop Manufacturing (NACS ) 14 Nonupholstered Wood Household Furniture Manufacturing (NACS ) 15 Custom Architectural Woodwork and Millwork Manufacturing (NACS ) 16 Sporting and Athletic Goods Manufacturing (NACS ) Total Number of Employees: 1,821 Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date = 100 employees 41

42 Section 4.2.B Target ndustry Specific Analysis: Manufacturing Table 4.2.B.1: Existing ndustry Concentration Comparison Total Employment Regional Total Employment ndian River County Cluster Concentration Total All ndustries 1,821 27, Regional Cluster Concentration Dog and Cat Food Manufacturing (NACS )* Frozen Fruit, Juice, and Vegetable Manufacturing (NACS ) ce Cream and Frozen Dessert Manufacturing (NACS )* <10 < Curtain and Linen Mills (NACS ) All Other Miscellaneous Textile Product Mills (NACS )* Hosiery and Sock Mills (NACS )* <10 < Commercial Printing (except Screen and Books) (NACS ) Nitrogenous Fertilizer Manufacturing (NACS ) All Other Miscellaneous Chemical Product and Preparation Manufacturing (NACS )* Polystyrene Foam Product Manufacturing (NACS )* Rubber and Plastics Hoses and Belting Manufacturing (NACS ) Ready-Mix Concrete Manufacturing (NACS ) Abrasive Product Manufacturing (NACS )* <10 < Cut Stone and Stone Product Manufacturing (NACS ) Other Aluminum Rolling, Drawing, and Extruding (NACS ) Ornamental and Architectural Metal Work Manufacturing (NACS )* Machine Shops (NACS ) ndustrial Valve Manufacturing (NACS )* Ammunition (except Small Arms) Manufacturing (NACS )* Other Commercial and Service ndustry Machinery Manufacturing (NACS ) Cutting Tool and Machine Tool Accessory Manufacturing (NACS ) Radio and Television Broadcasting and Wireless Communications Equipment Manufacturing (NACS )* Carbon and Graphite Product Manufacturing (NACS )* <10 < Aircraft Manufacturing (NACS ) Wood Kitchen Cabinet and Countertop Manufacturing (NACS ) Nonupholstered Wood Household Furniture Manufacturing (NACS ) Custom Architectural Woodwork and Millwork Manufacturing (NACS ) Jewelry and Silverware Manufacturing (NACS )* Sporting and Athletic Goods Manufacturing (NACS ) Source: Economic Modeling Systems nc. (EMS) ) Ady Advantage *These industries are not included in the previous Bubble Plot due to insufficient data. /J!Advantag~ LQ > than Region (by a difference of 1.00) LQ < than Region (by a difference of 1.00) LQ and Regional LQ are not significantly different Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 42 42

43 Section 4.2.B Target ndustry Specific Analysis: Manufacturing Comparison of ndustry Concentration (Table 4.2.B.1) ndian River is more highly concentrated than the region and the U.S. average in most of the Manufacturing subsectors that are found in the county. The ones marked in green on the previous page are those industries that have a location quotient that is significantly higher than the region s LQ by more than one. Dog and Cat Food Manufacturing (NACS ) Frozen Fruit, Juice, and Vegetable Manufacturing (NACS ) ce Cream and Frozen Dessert Manufacturing (NACS ) Curtain and Linen Mills (NACS ) All Other Miscellaneous Textile Product Mills (NACS ) Hosiery and Sock Mills (NACS ) Nitrogenous Fertilizer Manufacturing (NACS ) All Other Miscellaneous Chemical Product and Preparation Manufacturing (NACS ) Rubber and Plastics Hoses and Belting Manufacturing (NACS ) Abrasive Product Manufacturing (NACS Other Aluminum Rolling, Drawing, and Extruding (NACS ) ndustrial Valve Manufacturing (NACS ) Ammunition (except Small Arms) Manufacturing (NACS ) Cutting Tool and Machine Tool Accessory Manufacturing (NACS ) Aircraft Manufacturing (NACS ) Nonupholstered Wood Household Furniture Manufacturing (NACS ) Custom Architectural Woodwork and Millwork Manufacturing (NACS ) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 43 43

44 Section 4.2.B Target ndustry Specific Analysis: Manufacturing Table 4.2.B.2: Existing ndustry Wage Comparison Average Cluster Wage (Annual) Regional Average Cluster Wage (Annual) U.S. Average Cluster Wage (Annual) Total ndustry (Average Wage) $47,259 $69,772 $62,009 Dog and Cat Food Manufacturing (NACS )* $22,889 $22,763 $60,774 Frozen Fruit, Juice, and Vegetable Manufacturing (NACS ) $35,646 $43,846 $40,474 ce Cream and Frozen Dessert Manufacturing (NACS )* ** ** $43,864 Curtain and Linen Mills (NACS ) $35,404 $32,328 $34,149 All Other Miscellaneous Textile Product Mills (NACS )* $23,169 $22,828 $32,921 Hosiery and Sock Mills (NACS )* ** ** $30,828 Commercial Printing (except Screen and Books) (NACS ) $33,210 $40,382 $47,466 Nitrogenous Fertilizer Manufacturing (NACS ) $55,051 $55,051 $83,375 All Other Miscellaneous Chemical Product and Preparation Manufacturing (NACS )* $61,477 $56,507 $69,926 Polystyrene Foam Product Manufacturing (NACS )* $23,133 $26,929 $43,867 Rubber and Plastics Hoses and Belting Manufacturing (NACS ) $47,234 $48,512 $50,853 Ready-Mix Concrete Manufacturing (NACS ) $40,228 $49,799 $51,703 Abrasive Product Manufacturing (NACS )* ** ** $54,986 Cut Stone and Stone Product Manufacturing (NACS ) $25,975 $31,753 $39,401 Other Aluminum Rolling, Drawing, and Extruding (NACS ) $33,859 $54,509 $52,465 Ornamental and Architectural Metal Work Manufacturing (NACS )* $32,430 $33,078 $47,640 Machine Shops (NACS ) $32,188 $41,576 $50,065 ndustrial Valve Manufacturing (NACS )* $60,005 $60,005 $64,278 Ammunition (except Small Arms) Manufacturing (NACS )* $34,941 $36,460 $77,960 Other Commercial and Service ndustry Machinery Manufacturing (NACS ) $72,080 $72,954 $63,295 Cutting Tool and Machine Tool Accessory Manufacturing (NACS ) $39,884 $40,370 $53,794 Radio and Television Broadcasting and Wireless Communications Equipment Manufacturing (NACS )* $60,574 $73,905 $102,948 Carbon and Graphite Product Manufacturing (NACS )* ** ** $61,521 Aircraft Manufacturing (NACS ) $55,870 $56,468 $101,682 Wood Kitchen Cabinet and Countertop Manufacturing (NACS ) $27,850 $32,489 $37,230 Nonupholstered Wood Household Furniture Manufacturing (NACS ) $25,919 $26,259 $34,796 Custom Architectural Woodwork and Millwork Manufacturing (NACS ) $34,163 $35,242 $48,151 Jewelry and Silverware Manufacturing (NACS )* $58,421 $74,719 $46,460 Sporting and Athletic Goods Manufacturing (NACS ) $26,642 $35,764 $51,066 Source: Economic Modeling Systems nc. (EMS) ) Ady Advantage *These industries are not included in the previous Bubble Plot due to insufficient data. **nsufficient data wages > both regional and U.S. wages wages > only regional wages wages < both regional and U.S. wages wages are not significantly different than the region and/or U.S. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 44 /liljadva ntag~ 44

45 Section 4.2.B Target ndustry Specific Analysis: Manufacturing Comparison of ndustry Wages (Table 4.2.B.2) Overall, the Manufacturing wages in ndian River are significantly lower than that of the region and the U.S. The only industry in which ndian River has higher wages than the region and the U.S. (shaded in green) is Curtain and Linen Mills (NACS ). There are three subsectors where ndian River has higher wages than the region, but lower than the U.S. (shaded in yellow): Dog and Cat Food Manufacturing (NACS ) All Other Miscellaneous Textile Product Mills (NACS ) All Other Miscellaneous Chemical Product and Preparation Manufacturing (NACS ) The industries in which ndian River has lower wages than both the region and the U.S. are shaded in orange. The subsectors with the most significant differences are listed below: Commercial Printing (except Screen and Books) (NACS ) Ready-Mix Concrete Manufacturing (NACS ) Other Aluminum Rolling, Drawing, and Extruding (NACS ) Machine Shops (NACS ) Radio and Television Broadcasting and Wireless Communications Equipment Manufacturing (NACS ) Wood Kitchen Cabinet and Countertop Manufacturing (NACS ) Sporting and Athletic Goods Manufacturing (NACS ) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 45 45

46 Section 4.2.B Target ndustry Specific Analysis: Manufacturing Table 4.2.B.3: Existing ndustry Employment Growth Comparison ndian River County 10-year Growth ( ) ndian River County 5-year Growth ( ) Regional 10-year Growth ( ) Regional 5-year Growth ( ) U.S. 10-year Growth ( ) U.S. 5-year Growth ( ) Total All ndustries -15% 4% -14% 1% -14% 6% Dog and Cat Food Manufacturing (NACS )* ** ** ** ** 24% 9% Frozen Fruit, Juice, and Vegetable Manufacturing (NACS ) 38% 13% 7% (5%) (9%) (6%) ce Cream and Frozen Dessert Manufacturing (NACS )* ** ** ** ** (9%) 0% Curtain and Linen Mills (NACS ) 79% (40%) 7% (28%) (56%) (7%) All Other Miscellaneous Textile Product Mills (NACS )* ** ** 30% (13%) (18%) 3% Hosiery and Sock Mills (NACS )* ** ** ** ** (65%) (28%) Commercial Printing (except Screen and Books) (NACS ) (52%) (20%) (37%) (9%) (32%) (9%) Nitrogenous Fertilizer Manufacturing (NACS ) (33%) 54% (33%) 54% (10%) (0%) All Other Miscellaneous Chemical Product and Preparation Manufacturing (NACS )* ** ** ** 252% 6% 9% Polystyrene Foam Product Manufacturing (NACS )* ** ** ** 29% (10%) 9% Rubber and Plastics Hoses and Belting Manufacturing (NACS ) (2%) (20%) (20%) (44%) (13%) 15% Ready-Mix Concrete Manufacturing (NACS ) (69%) (13%) (71%) (9%) (29%) 1% Abrasive Product Manufacturing (NACS )* ** ** ** ** (10%) 6% Cut Stone and Stone Product Manufacturing (NACS ) ** (7%) 243% 44% (2%) 22% Other Aluminum Rolling, Drawing, and Extruding (NACS ) ** 17% (51%) (52%) (22%) 12% Ornamental and Architectural Metal Work Manufacturing (NACS )* ** ** 37% 62% (7%) 16% Machine Shops (NACS ) ** (41%) 72% 45% 13% 19% ndustrial Valve Manufacturing (NACS )* ** ** ** ** 15% 18% Ammunition (except Small Arms) Manufacturing (NACS )* ** ** ** ** (23%) (17%) Other Commercial and Service ndustry Machinery Manufacturing (NACS ) (67%) 136% (82%) (43%) (18%) (1%) Cutting Tool and Machine Tool Accessory Manufacturing (NACS ) 16% 89% 19% 100% (5%) 22% Radio and Television Broadcasting and Wireless Communications Equipment Manufacturing (NACS )* ** ** (61%) (40%) (25%) (17%) Carbon and Graphite Product Manufacturing (NACS )* ** ** ** ** (4%) 7% Aircraft Manufacturing (NACS ) (14%) (5%) (38%) (29%) 12% 3% Wood Kitchen Cabinet and Countertop Manufacturing (NACS ) (46%) 164% (15%) 99% (36%) 9% Nonupholstered Wood Household Furniture Manufacturing (NACS ) (19%) (45%) (27%) (57%) (52%) (2%) Custom Architectural Woodwork and Millwork Manufacturing (NACS ) ** 27% 115% 59% 2% 14% Jewelry and Silverware Manufacturing (NACS )* ** ** 38% 28% (31%) 2% Sporting and Athletic Goods Manufacturing (NACS ) (82%) (21%) (51%) 7% (22%) (0%) Source: Economic Modeling Systems nc. (EMS) ) Ady Advantage *These industries are not included in the previous Bubble Plot due to insufficient data. **nsufficient data growth in the highlighted period > region and U.S. growth in that same period by greater than 10 percentage points. growth in the highlighted period < region and U.S. growth in that same period by greater than 10 percentage points. growth is not significantly higher or lower than both the region and the U.S.. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 46 46

47 Section 4.2.B Target ndustry Specific Analysis: Manufacturing Comparison of ndustry Growth (Table 4.2.B.3) Overall, the Manufacturing industry in ndian River, the region and the U.S. experienced negative growth in the 10-year period and slightly positive growth in the 5-year period. Frozen Fruit, Juice, and Vegetable Manufacturing (NACS ) was the only subsector in which the growth in the 10-year and 5-year period in ndian River County significantly exceeded both the region and the U.S. in the respective years. There were two subsectors in which the 5-year and 10-year growth was significantly less than that of the region and the U.S. Sporting and Athletic Goods Manufacturing (NACS ) Commercial Printing (except Screen and Books) (NACS ) The following subsectors showed higher growth (by 10 percentage points) in either the 10-year or 5-year period in ndian River, compared to the region and the U.S.: Rubber and Plastics Hoses and Belting Manufacturing (NACS ) Other Aluminum Rolling, Drawing, and Extruding (NACS ) Other Commercial and Service ndustry Machinery Manufacturing (NACS ) Custom Architectural Woodwork and Millwork Manufacturing (NACS ) The following subsectors had a significantly lower growth in either the 10-or 5-year period in ndian River and/or the region in comparison to the U.S. : Cut Stone and Stone Product Manufacturing (NACS ) Machine Shops (NACS ) There were also a few subsectors in which saw a significantly higher growth in either the 5-year or 10-year period in comparison to the region and the U.S., but significantly lower growth in the other period. Wood Kitchen Cabinet and Countertop Manufacturing (NACS ) Curtain and Linen Mills (NACS ) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 47 47

48 Rank Section 4.2.B Target ndustry Specific Analysis: Manufacturing Table 4.2.B.4 Existing Manufacturing ndustry Ranked by Number of Jobs, 5-Year Growth and Cluster Concentration Number of Jobs (2014) ndian River County 5-year Growth ndian River County Cluster Concentration (LQ) 1 Aircraft Manufacturing (NACS ) 827 (5%) (2) 2 Rubber and Plastics Hoses and Belting Manufacturing (NACS ) 55 (20%) 6.49 (4) 3 Frozen Fruit, Juice, and Vegetable Manufacturing (NACS ) 51 13% Machine Shops (NACS ) 41 (41%) Nitrogenous Fertilizer Manufacturing (NACS ) 40 54% (4) (1) 6 Ammunition (except Small Arms) Manufacturing (NACS )* 40 ** 8.69 (3) 7 Wood Kitchen Cabinet and Countertop Manufacturing (NACS ) % (1).98 8 Cutting Tool and Machine Tool Accessory Manufacturing (NACS ) 36 89% (3) Custom Architectural Woodwork and Millwork Manufacturing (NACS ) 33 27% (5) 5.51 (5) 10 Commercial Printing (except Screen and Books) (NACS ) 32 (20%) All Other Miscellaneous Chemical Product and Preparation Manufacturing (NACS )* 29 ** Other Aluminum Rolling, Drawing, and Extruding (NACS ) 28 17% Sporting and Athletic Goods Manufacturing (NACS ) 26 (21%) Ready-Mix Concrete Manufacturing (NACS ) 26 (13%) Other Commercial and Service ndustry Machinery Manufacturing (NACS ) % (2) All Other Miscellaneous Textile Product Mills (NACS )* 25 ** Curtain and Linen Mills (NACS ) 25 (40%) Radio and Television Broadcasting and Wireless Communications Equipment Manufacturing (NACS )* 24 ** ndustrial Valve Manufacturing (NACS )* 22 ** Ornamental and Architectural Metal Work Manufacturing (NACS )* 18 ** Nonupholstered Wood Household Furniture Manufacturing (NACS ) 17 (45%) Cut Stone and Stone Product Manufacturing (NACS ) 13 (7%) Jewelry and Silverware Manufacturing (NACS )* 13 ** Polystyrene Foam Product Manufacturing (NACS )* 11 ** Dog and Cat Food Manufacturing (NACS )* 11 ** Hosiery and Sock Mills (NACS )* <10 ** Abrasive Product Manufacturing (NACS )* <10 ** ce Cream and Frozen Dessert Manufacturing (NACS )* <10 ** Carbon and Graphite Product Manufacturing (NACS )* <10 ** 1.09 Source: Economic Modeling Systems nc. (EMS) ) Ady Advantage - *These industries are not included in the previous Bubble Plot due to insufficient data. **nsufficient data Top five (5) in each (# Jobs, Growth, LQ) (rank) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 48 48

49 Section 4.2.B Target ndustry Specific Analysis: Manufacturing ndustry Rankings (Table 4.2.B.4) To further explore the Manufacturing industry in ndian River, the six-digit NACS codes were used to rank the various sectors by (1) number of jobs, (2) growth, and (3) concentration, or LQ. This helps to ensure that no niche areas that may present an opportunity are overlooked. The list on the previous page includes the top five subsectors for each of the three factors. These are highlighted in green with a ranking number in parentheses. Aircraft Manufacturing (NACS ) employs the most people, with 827 employees. This is about 15 times more employees than Rubber and Plastics Hoses and Belting Manufacturing (NACS ), which employs the second-highest number of people in ndian River. The highest 5-year growth was seen in the subsector of Wood Kitchen Cabinet and Countertop Manufacturing (NACS ), and the subsector with the second-highest 5-year growth was Other Commercial and Service ndustry Machinery Manufacturing (NACS ). Nitrogenous Fertilizer Manufacturing (NACS ) had the most significant LQ of What does this mean? Only one subsector is on the top five for all three rankings-nitrogenous Fertilizer Manufacturing (NACS ) Number of jobs tends to correlate with LQ (four out of five subsectors) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 49 49

50 Section 4.2.B Target ndustry Specific Analysis: Manufacturing Take-Aways Star ndustries Frozen Fruit, Juice, and Vegetable Manufacturing (NACS ) has a significantly higher LQ (5.05) than the region (3.81). This subsector employs 51 people in ndian River, who earn an average annual wage of $35,646. This is less than their regional counterparts ($43,846) and the U.S. average ($40,474). n the 10-year and 5-year periods, this subsector in ndian River has grown by 38% and 13%, respectively. This is significantly higher than the region and the U.S., which both experienced negative growth of this subsector in the 5-year period. Nitrogenous Fertilizer Manufacturing (NACS ) has the highest LQ of all of the Manufacturing subsectors (16.29). This subsector employs 40 people in ndian River. Wages for this subsector in ndian River are the same as wages in the region ($55,0510), but significantly lower than the U.S. wages ($83,375). ndian River, the region and the U.S. all experienced negative growth in this subsector for the 10-year period, but ndian River saw 54% growth in the 5-year period, while the U.S. stayed stagnant. This subsector is the only one in the top five for all three industry rankings. Other Aluminum Rolling, Drawing, and Extruding (NACS ) employs 28 people in ndian River. ts LQ of 3.00 is significantly higher than the region s (1.35). Employees in this subsector earn an average annual wage of $33,859 in ndian River. This is significantly lower than wages in the region ($54,509) and the U.S. average for this subsector ($52,465). n the 5-year period, ndian River saw a 17% growth in this subsector. During the same time period, the region experienced negative growth of 52% and the U.S. saw a growth rate of 12%. Other Commercial and Service ndustry Machinery Manufacturing (NACS ) onlyemploys26peopleinndianriver,whoearn,onaverage,$72,080.thisison par with regional wages, and almost $10,000 higher than annual wages in the U.S. With an LQ of 1.24, ndian River is slightly more concentrated than the U.S. and the region (0.97). n the 5-year period, ndian River grew by 136% in this subsector, while the region and the U.S. experienced negative growth of 43% and 1% respectively. Cutting Tool and Machine Tool Accessory Manufacturing (NACS ) has a significantly higher LQ (4.08), than the region s (0.56). This subsector employs 36 people in ndian River, and only two more in the region. Because of this, wages for ndian River are on par with the region at $39,884. However, these wages are lower than the U.S. average ($53,794). Although growth for the 5-year and 10-year periods is lower in ndian River than in the region, ndian River saw higher growth than the U.S.: 16% compared to -5% for the 10-year period and 89% compared to 22% for the 5-year period. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 50 50

51 Section 4.2.B Target ndustry Specific Analysis: Manufacturing Take-Aways Star ndustries Wood Kitchen Cabinet and Countertop Manufacturing (NACS ) in ndian River has an LQ of 0.98, which is slightly lower than the U.S. average, as well as the regional LQ (1.23). ts 37 employees earn an average annual wage of $27,850. This is slightly lower than the regional wages ($32,489), and almost $10,000 lower than U.S. annual wages for this subsector ($37,230). Although this subsector experienced negative growth in ndian River during the 10-year period, it saw tremendous growth in the 5-year period of 164%, while the U.S. only grew by 6% in that same period. Custom Architectural Woodwork and Millwork Manufacturing (NACS ) has a significantly higher LQ than the region; 5.51 compared to This subsector employs 33 people, who ear, on average, $34,163. This is slightly lower than the regional wages ($35,242) and significantly lower than the U.S. average annual wages ($48,151). ts 5-year growth rate of 27% is less than that of the region (59%), but greater than that of the U.S. (14%). Mainstays Curtain and Linen Mills (NACS ) Rubber and Plastics Hoses and Belting Manufacturing (NACS ) Cut Stone and Stone Product Manufacturing (NACS ) Aircraft Manufacturing (NACS ) Nonupholstered Wood Household Furniture Manufacturing (NACS ) Sporting and Athletic Goods Manufacturing (NACS ) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 51 51

52 Section 4.2.C Target ndustry Specific Analysis: Transportation & Warehousing General Freight Trucking, Local (NACS ) 2 Limousine Service (NACS ) Other Airport Operations (NACS ) Other Support Activities for Air Transportation (NACS ) Freight Transportation Arrangement (NACS ) Couriers and Express Delivery Services (NACS ) General Warehousing and Storage (NACS ) 2 8 Graph 4.2.C: Current ndustry Analysis MANSTAYS - ' ' Q ' STARS t l Specific ndustry Concentration (LQ) ) 7 ~ - ~ Specific ndustry Growth t (2010 to 2014)... ~. ~ ~.... ~ % -35% -25% -15% -5% 5% 15% 25% 35% - - ' ~ 4 8 REACTVE f V 5 Circle Size = Number of employees in Source: Economic Modeling Systems nc. (EMS) Ady Advantage OPPORTUNTES 1 t 10 0 = 50 employees Total Number of Employees: 638 Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 52 52

53 Section 4.2.C Target ndustry Specific Analysis: Transportation & Warehousing Table 4.2.C.1: Existing ndustry Concentration Comparison ndian River County Total Employment Regional Total Employment ndian River County Cluster Concentration Regional Cluster Concentration Total All ndustries 638 6, Other Nonscheduled Air Transportation (NACS )* < General Freight Trucking, Local (NACS ) Used Household and Office Goods Moving (NACS )* Limousine Service (NACS ) Charter Bus ndustry (NACS )* < Scenic and Sightseeing Transportation, Water (NACS )* < Other Airport Operations (NACS ) Other Support Activities for Air Transportation (NACS ) Freight Transportation Arrangement (NACS ) Couriers and Express Delivery Services (NACS ) General Warehousing and Storage (NACS ) 297 1, Source: Economic Modeling Systems nc. (EMS) ) Ady Advantage *These industries are not included in the previous Bubble Plot due to insufficient data. **nsufficient data LQ > than Region (by a difference of 1.00) LQ < than Region (by a difference of 1.00) LQ and Regional LQ are not significantly different Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 53 53

54 Section 4.2.C Target ndustry Specific Analysis: Transportation & Warehousing Comparison of ndustry Concentration (Table 4.2.C.1) n most subsectors of Transportation and Warehousing, has a similar LQ to its neighboring counties. The only subsector in which ndian River has a significantly higher location quotient is Limousine Service (NACS 48532) (highlighted in green). There are two subsectors in which ndian River has a significantly lower LQ than the region (highlighted in orange). Other Nonscheduled Air Transportation (NACS ) Other Support Activities for Air Transportation (NACS ) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 54 54

55 Section 4.2.C Target ndustry Specific Analysis: Transportation & Warehousing Table 4.2.C.2: Existing ndustry Wage Comparison Average Cluster Wage (Annual) Regional Average Cluster Wage (Annual) U.S. Average Cluster Wage (Annual) Total ndustry (Average Wage) $37,318 $53,790 $48,256 Other Nonscheduled Air Transportation (NACS )* ** $88,614 $88,576 General Freight Trucking, Local (NACS ) $45,420 $33,439 $43,855 Used Household and Office Goods Moving (NACS )* $30,700 $30,536 $35,729 Limousine Service (NACS ) $15,817 $25,582 $28,185 Charter Bus ndustry (NACS )* ** $27,416 $29,801 Scenic and Sightseeing Transportation, Water (NACS )* ** $54,626 $28,050 Other Airport Operations (NACS ) $46,297 $43,650 $28, Other Support Activities for Air Transportation (NACS ) $48,754 $54,492 $57,079 Freight Transportation Arrangement (NACS ) $49,002 $57,192 $58,181 Couriers and Express Delivery Services (NACS ) $40,547 $40,307 $47,168 General Warehousing and Storage (NACS ) $35,779 $51,786 $41,802 Source: Economic Modeling Systems nc. (EMS) ) Ady Advantage *These industries are not included in the previous Bubble Plot due to insufficient data. **nsufficient data wages > both regional and U.S. wages wages > only regional wages wages < both regional and U.S. wages wages are not significantly different than the region and/or the U.S. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 55 55

56 Section 4.2.C Target ndustry Specific Analysis: Transportation & Warehousing Comparison of ndustry Wages (Table 4.2.C.2) Overall, the wages for the Transportation and Warehousing industry are lower than that of both the region and the U.S. The subsectors where ndian River has lower wages than the region and the U.S. are shaded in orange: Limousine Service (NACS ) Other Support Activities for Air Transportation (NACS ) Freight Transportation Arrangement (NACS ) General Warehousing and Storage (NACS ) There are several industries where wages are higher in both the region and the U.S. (shaded in green) or just the region (shaded in yellow): General Freight Trucking, Local (NACS ) Used Household and Office Goods Moving (NACS ) Other Airport Operations (NACS ) Couriers and Express Delivery Services (NACS ) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 56 56

57 Section 4.2.C Target ndustry Specific Analysis: Transportation & Warehousing Table 4.2.C.3: Existing ndustry Employment Growth Comparison ndian River County 10-year Growth ( ) ndian River County 5-year Growth ( ) Regional 10-year Growth ( ) Regional 5-year Growth ( ) U.S. 10-year Growth ( ) U.S. 5-year Growth ( ) Total All ndustries 41% 7% 12% 17% 7% 12% Other Nonscheduled Air Transportation (NACS )* ** ** ** (33%) 114% 63% General Freight Trucking, Local (NACS ) (59%) 33% (31%) (11%) 0% 14% Used Household and Office Goods Moving (NACS )* 85% ** (32%) 24% (6%) 16% Limousine Service (NACS ) 0% (26%) (27%) (40%) 14% 17% Charter Bus ndustry (NACS )* ** ** 120% 45% (7%) 0% Scenic and Sightseeing Transportation, Water (NACS )* ** ** (14%) (25%) (5%) 11% Other Airport Operations (NACS ) ** (5%) (36%) 38% 17% 22% Other Support Activities for Air Transportation (NACS ) (77%) (40%) 166% 75% 18% 7% Freight Transportation Arrangement (NACS ) (4%) (15%) 6% 26% 11% 16% Couriers and Express Delivery Services (NACS ) (21%) 13% (12%) 4% 2% 10% General Warehousing and Storage (NACS ) 482% 21% 34% 54% 29% 19% Source: Economic Modeling Systems nc. (EMS) ) Ady Advantage * These industries are not included in the previous Bubble Plot due to insufficient data. **nsufficient data growth in the highlighted period > region and U.S. growth in that same period by greater than 10 percentage points. growth in the highlighted period < region and U.S. growth in that same period by greater than 10 percentage points. growth is not significantly higher or lower than both the region and the U.S.. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 57 57

58 Section 4.2.C Target ndustry Specific Analysis: Transportation & Warehousing Comparison of ndustry Growth (Table 4.2.C.3) ndian River s Transportation & Warehousing industry has seen a positive growth in both the 10-year and the 5-year periods. The 10-year growth for the county is significantly higher than the region and the U.S. The following subsectors showed higher growth (by 10 percentage points) in either the 10-year or 5-year period in ndian River, compared to the region and the U.S.: Used Household and Office Goods Moving (NACS ) General Warehousing and Storage (NACS ) There were two subsectors in which the 5-year and 10-year growth was significantly less than that of the region and the U.S. Other Support Activities for Air Transportation (NACS ) Freight Transportation Arrangement (NACS ) There was also one subsector in which saw a significantly higher growth in the 5-year period in comparison to the region and the U.S., but significantly lower growth in the 10-year period. General Freight Trucking, Local (NACS ) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 58 58

59 Section 4.2.C Target ndustry Specific Analysis: Transportation & Warehousing Rank Table 4.2.C.4 Existing Transportation and Warehousing ndustry Ranked by Number of Jobs Number of Jobs (2014) ndian River County 5-year Growth ndian River County Cluster Concentration (LQ) 1 General Warehousing and Storage (NACS ) % (2) 1.38 (5) 2 Couriers and Express Delivery Services (NACS ) 93 13% (3) Used Household and Office Goods Moving (NACS )* 63 ** 1.90 (2) 4 Other Airport Operations (NACS ) 40 (5%) 1.63 (3) 5 General Freight Trucking, Local (NACS ) 24 33% (1) Freight Transportation Arrangement (NACS ) 23 (15%) Limousine Service (NACS ) 20 (26%) 1.41 (4) 8 Other Support Activities for Air Transportation (NACS ) 15 (40%) Other Nonscheduled Air Transportation (NACS )* <10 ** 5.90 (1) 10 Scenic and Sightseeing Transportation, Water (NACS )* <10 ** Charter Bus ndustry (NACS )* <10 ** 0.80 Source: Economic Modeling Systems nc. (EMS) ) Ady Advantage * These industries are not included in the previous Bubble Plot due to insufficient data. **nsufficient data Top five (5) in each (# Jobs, Growth, LQ) (rank) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 59 59

60 Section 4.2.C Target ndustry Specific Analysis: Transportation & Warehousing ndustry Rankings (Table 4.2.C.4) To further explore the Transportation and Warehousing industry in ndian River, the six-digit NACS codes were used to rank the various sectors by (1) number of jobs, (2) growth, and (3) concentration, or LQ. This helps to ensure that no niche areas that may present an opportunity are overlooked. The list on the previous page includes the top five subsectors for each of the three factors. These are highlighted in green with a ranking number in parentheses. General Warehousing and Storage (NACS ) has the highest employment in ndian River, employing almost 300 people. The subsector with the next highest employment only employs about 100 people. There were only three subsectors in this industry that showed a positive 5-year growth, the highest being General Freight Trucking, Local (NACS ), which grew 33% in the 5-year period. Other Nonscheduled Air Transportation has the highest LQ of all of the Transportation & Warehousing subsectors, with an LQ of What does this mean? There were two subsectors in the top five for all three categories-general Warehousing and Storage (NACS ) and Other Airport Operations (NACS ). However, other airport operations actually experienced negative growth. Growth is positive in only three industries Number of jobs tends to correlate with LQ (three out of five subsectors) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 60 60

61 Section 4.2.C Target ndustry Specific Analysis: Transportation & Warehousing Take-Aways Star ndustries General Warehousing and Storage (NACS ) employs the most people in ndian River out of all of the Transportation and Warehousing subsectors at 297 people. Employees in General Warehousing and Storage in ndian River earn $35,779 annually, which is significantly less than their counterparts in the region and the U.S. who earn $51,786 and $41,802, respectively. This subsector has a slightly higher LQ (1.38) than the region (0.92). t also had the highest 10-year growth, at a significant 482%, and 21% growth in the past 5 years. This subsector is the only one in the top five for all three industry rankings. Opportunities General Freight Trucking, Local (NACS ) has an LQ of 0.30 which is just above the region s LQ (0.25) and well below the U.S. average. t only employs about 24 people who earn, on average, $45,420, which is more than their counterparts in the region ($33,439) and the U.S. ($43,855). This subsector grew 33% in the last 5-year period, which is the highest 5-year growth of all Transportation and Warehousing subsectors in ndian River. n that same time period, the region had a negative growth rate of 11% and the U.S. grew by 14%. Couriers and Express Delivery Services (NACS ) has the second highest employment of all of the Transportation and Warehousing subsectors, employing 93 people. Although this subsector has a low LQ of 0.52, it has the third highest growth in this industry with 13% in the past 5 years. This compares to the region which grew at 4% and the U.S. with 10% growth in the same time period. Employees of this subsector earn $40,547 on average, which is slightly more than the region ($40,307) and less than the U.S. ($47,168). Mainstays Limousine Service (NACS ) Other Airport Operation (NACS ) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 61 61

62 Section 4.2.D Target ndustry Specific Analysis: nformation MANSTAYS.::::::---_J 1 Graph 4.2.D: Current ndustry Analysis Specific ndustry Growth (2010 to 2014) % -15% 5% 25% 45% 65% 4 7 REACTVE 8 ' Specific ndustry Concentration (LQ) STARS OPPORTUNTES 3 1 Newspaper Publishers (NACS ) 2 Periodical Publishers(NACS ) 3 Book Publishers (NACS ) 4 Software Publishers (NACS ) 5 Motion Picture Theaters (except Drive-ns) (NACS ) 6 Radio Stations (NACS ) 7 Wired Telecommunications Carriers (NACS ) 8 Data Processing, Hosting & Related Services (NACS ) - Cb ~-=-=~===L 6 Circle Size = Number of employees in Source: Economic Modeling Systems nc. (EMS) Ady Advantage Total Number of Employees: 643 = 50 employees Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 62 62

63 Section 4.2.D Target ndustry Specific Analysis: nformation Table 4.2.D.1: Existing ndustry Concentration Comparison ndian River County Total Employment Regional Total Employment ndian River County Cluster Concentration Regional Cluster Concentration Total All ndustries 643 3, Newspaper Publishers (NACS ) Periodical Publishers (NACS ) Book Publishers (NACS ) Software Publishers (NACS ) Motion Picture Theaters (except Drive-ns) (NACS ) Radio Stations (NACS ) Wired Telecommunications Carriers (NACS ) 203 1, Telecommunications Resellers (NACS )* Data Processing, Hosting, and Related Services (NACS ) Source: Economic Modeling Systems nc. (EMS) ) Ady Advantage *These industries are not included in the previous Bubble Plot due to insufficient data. **nsufficient data LQ > than Region (by a difference of 1.00) LQ < than Region (by a difference of 1.00) LQ and Regional LQ are not significantly different Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 63 63

64 Section 4.2.D Target ndustry Specific Analysis: nformation Comparison of ndustry Concentration (Table 4.2.D.1) n the nformation industry, most subsectors in ndian River are similar to that of the region. Of these, there are two that are slightly above the U.S. LQ of one in both the county and the region. Newspaper Publishers (NACS ) Motion Picture Theaters (except Drive-ns) (NACS ) The only subsector with a significantly higher LQ than the region is Periodical Publishers (NACS ). Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 64 64

65 Section 4.2.D Target ndustry Specific Analysis: nformation Table 4.2.D.2: Existing ndustry Wage Comparison Average Cluster Wage (Annual) Regional Average Cluster Wage (Annual) U.S. Average Cluster Wage (Annual) Total ndustry (Average Wage) $56,811 $55,146 $90,228 Newspaper Publishers (NACS ) $34,888 $43,164 $46,855 Periodical Publishers (NACS ) $39,047 $42,987 $85,030 Book Publishers (NACS ) $45,455 $42,452 $76,486 Software Publishers (NACS ) $118,734 $111,020 $136,205 Motion Picture Theaters (except Drive-ns) (NACS ) $13,386 $12,951 $12,855 Radio Stations (NACS ) $35,215 $39,080 $52,255 Wired Telecommunications Carriers (NACS ) $59,345 $59,630 $79,707 Telecommunications Resellers (NACS )* $36,499 $39,988 $72,654 Data Processing, Hosting, and Related Services (NACS ) $50,095 $87,172 $90,530 Source: Economic Modeling Systems nc. (EMS) ) Ady Advantage *These industries are not included in the previous Bubble Plot due to insufficient data. wages > both regional and U.S. wages wages > only regional wages wages < both regional and U.S. wages wages are not significantly than the region and/or the U.S. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 65 65

66 Section 4.2.D Target ndustry Specific Analysis: nformation Comparison of ndustry Wages (Table 4.2.D.2) Overall, the wages for the nformation industry are slightly higher than the region, but significantly lower than the U.S. Most of the subsectors have wages that are lower than both the region and the U.S. (shaded in orange): Newspaper Publishers (NACS ) Periodical Publishers (NACS ) Radio Stations (NACS ) Wired Telecommunications Carriers (NACS ) Telecommunications Resellers (NACS ) Data Processing, Hosting, and Related Services (NACS ) The industries where ndian River has higher wages than the region, but lower wages than the U.S. are shaded in yellow: Book Publishers (NACS ) Software Publishers (NACS ) There is only one industry in which ndian River s wages are higher than both the region and the U.S. (shaded in green): Motion Picture Theaters (except Drive-ns) (NACS ) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 66 66

67 Section 4.2.D Target ndustry Specific Analysis: nformation Table 4.2.D.3: Existing ndustry Employment Growth Comparison ndian River County 10-year Growth ( ) ndian River County 5-year Growth ( ) Regional 10-year Growth ( ) Regional 5-year Growth ( ) U.S. 10-year Growth ( ) U.S. 5-year Growth ( ) Total All ndustries -1% 4% -25% -20% -10% 1% Newspaper Publishers (NACS ) (31%) (10%) (50%) (22%) (45%) (20%) Periodical Publishers (NACS ) (26%) (1%) (35%) (24%) (31%) (16%) Book Publishers (NACS ) ** 36% (23%) (4%) (20%) (8%) Software Publishers (NACS ) 42% (13%) 16% 8% 31% 20% Motion Picture Theaters (except Drive-ns) (NACS ) (33%) 64% (1%) (10%) (3%) (0%) Radio Stations (NACS ) (50%) 40% (38%) (9%) (17%) 1% Wired Telecommunications Carriers (NACS ) 57% 15% (20%) (30%) (14%) 1% Telecommunications Resellers (NACS )* ** ** (77%) 37% (58%) (38%) Data Processing, Hosting, and Related Services (NACS ) ** (29%) (45%) (59%) 5% 15% Source: Economic Modeling Systems nc. (EMS) ) Ady Advantage * These industries are not included in the previous Bubble Plot due to insufficient data. **nsufficient data growth in the highlighted period > region and U.S. growth in that same period by greater than 10 percentage points. growth in the highlighted period < region and U.S. growth in that same period by greater than 10 percentage points. growth is not significantly higher or lower than both the region and the U.S.. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 67 67

68 Section 4.2.D Target ndustry Specific Analysis: nformation Comparison of ndustry Growth (Table 4.2.D.3) ndian River s nformation industry has not grown significantly in the 10-year or 5-year period; however, in the 5-year period it had a higher growth than both the region and the U.S. There were two subsectors in which there was a significantly higher growth in both the 5-year and 10-year period in compared to that of the region and the U.S. Wired Telecommunications Carriers (NACS ) Newspaper Publishers (NACS ) The following subsectors showed higher growth (by 10 percentage points) in the 5-year period in ndian River, compared to the region and the U.S.: Book Publishers (NACS ) Periodical Publishers (NACS ) There were also a few subsectors in which saw a significantly higher growth in the 5-year or 10-year period in comparison to the region and the U.S., but significantly lower growth in the other period. Motion Picture Theaters (except Drive-ns) (NACS ) Radio Stations (NACS ) Software Publishers (NACS ) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 68 68

69 Rank Section 4.2.D Target ndustry Specific Analysis: nformation Table 4.2.D.4 Existing nformation ndustry Ranked by Number of Jobs Number of Jobs (2014) ndian River County 5-year Growth ndian River County Cluster Concentration (LQ) 1 Wired Telecommunications Carriers (NACS ) % (4) 0.98 (4) 2 Periodical Publishers (NACS ) 112 (1%) 3.35 (1) 3 Newspaper Publishers (NACS ) 102 (10%) 1.46 (2) 4 Software Publishers (NACS ) 101 (13%) 0.95 (5) 5 Motion Picture Theaters (except Drive-ns) (NACS ) 46 64% (1) 1.07 (3) 6 Book Publishers (NACS ) 15 36% (3) Radio Stations (NACS ) 14 40% (2) Telecommunications Resellers (NACS )* 12 ** Data Processing, Hosting, and Related Services (NACS ) 12 (29%) 0.13 Source: Economic Modeling Systems nc. (EMS) ) Ady Advantage * These industries are not included in the previous Bubble Plot due to insufficient data. **nsufficient data Top five (5) in each (# Jobs, Growth, LQ) (rank) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 69 69

70 Section 4.2.D Target ndustry Specific Analysis: nformation ndustry Rankings (Table 4.2.D.4) To further explore the nformation industry in ndian River, the six-digit NACS codes were used to rank the various sectors by (1) number of jobs, (2) growth, and (3) concentration, or LQ. This helps to ensure that no niche areas that may present an opportunity are overlooked. The list on the previous page includes the top five subsectors for each of the three factors. These are highlighted in green with a ranking number in parentheses. Wired Telecommunications Carriers (NACS ) employs the most people in ndian River (203). The subsector with the next highest employment employs slightly more than half as many people. There were only four subsectors of nformation that showed positive 5-year growth in ndian River, with the highest being Motion Picture Theaters (except Drive-ns) (NACS ). Periodical Publishers (NACS ) has the highest LQ of 3.35, with the rest of the subsectors being only slightly above or below the U.S. average. What does this mean? All five top subsectors by employees, are also the top five LQ s There are only four subsectors with positive growth Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 70 70

71 Section 4.2.D Target ndustry Specific Analysis: nformation Take-Aways Star ndustries Motion Picture Theaters (except Drive-ns) (NACS ) employs 46 people in ndian River and has an LQ of 1.07, which is slightly below that of the region (1.24). These employees, on average, earn $13,386, which is slightly more than their counterparts in the region ($12,951) and the U.S. ($12,855). This subsector stands out in its high 5-year growth of 64%, when the region had a negative 5-year growth rate of 10% and the U.S. saw no growth. Opportunities Book Publishers (NACS ) has an LQ of 0.65, which is higher than the region (0.16), but lower than the U.S. average. This subsector only employs 15 people and these people earn, on average, $45,455, which is more than the region s wages ($42,452), but significantly less than the U.S. average ($76,486). This subsector saw a 5-year growth of 36% when both the region and the U.S saw negative growth rates of 4% and 8% respectively. Radio Stations (NACS ) have a low employment of only 14 people in the county and an LQ that is below the U.S. average (0.55); however, this subsector had significant 5-year growth of 40%, when the region had a negative growth of 9% and the U.S. only grew about 1% in the same time period. Employees of this subsector earn about $35,215, which is slightly less than their counterparts in the region ($39.080), but significantly less than their counterparts intheu.s. ($52,255). Wired Telecommunications Carriers (NACS ) have the second-highest employment in ndian River, employing 203 people. These people make, on average, $59,345, which is slightly less than the region s wages ($59,630) and significantly less than the U.S. average ($79,707). Although it has an LQ slightly below average (0.98), this subsector had a positive growth rate in both the 10-year and the 5-year periods, when the region and the U.S. both saw negative growth during those time periods. Mainstays Newspaper Publishers (NACS ) Periodical Publishers (NACS ) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 71 71

72 Section 4.2.E Target ndustry Specific Analysis: Finance & nsurance ~ MANSTAYS ' +, Specific ndustry Growth (2010 to 2014). ~ ~..... ~ , -40% -20% ~ 0% 20% 40% 60% l- 80% 100% 120% 140% r r (f')o 4.'C7 5 (_ L r ~ 3 Graph 4.2.E: Current ndustry Analysis Specific ndustry Concentration (LQ) ~ ' REACTVE OPPORTUNTESt 0.00 Circle Size = Number of employees in Source: Economic Modeling Systems nc. (EMS) Ady Advantage - 8 t 1! STARS i 1 Commercial Banking (NACS ) 2 All Other Nondepository Credit ntermediation (NACS ) 3 Securities Brokerage (NACS ) 4 Portfolio Management (NACS ) 5 nvestment Advice (NACS ) 6 Direct Property and Casualty nsurance Carriers (NACS ) 7 Direct Title nsurance Carriers (NACS ) 8 nsurance Agencies and Brokerages (NACS ) 9 Third Party Administration of nsurance and Pension Funds (NACS ) 10 All Other nsurance Related Activities (NACS ) - " \ ) ~ ~ r l " p i-- ' ~ l Total Number of Employees: 1,253 0 i 9 = 100 employees -, Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 72 72

73 Section 4.2.E Target ndustry Specific Analysis: Finance & nsurance Table 4.2.E.1: Existing ndustry Concentration Comparison ndian River County Total Employment Regional Total Employment ndian River County Cluster Concentration Regional Cluster Concentration Total All ndustries 1,253 9, Commercial Banking (NACS ) 512 3, Credit Unions (NACS ) nternational Trade Financing (NACS ) <10 < All Other Nondepository Credit ntermediation (NACS ) Securities Brokerage (NACS ) Commodity Contracts Dealing (NACS ) < Portfolio Management (NACS ) nvestment Advice (NACS ) Trust, Fiduciary, and Custody Activities (NACS ) < Direct Property and Casualty nsurance Carriers (NACS ) Direct Title nsurance Carriers (NACS ) nsurance Agencies and Brokerages (NACS ) 322 2, Third Party Administration of nsurance and Pension Funds (NACS ) All Other nsurance Related Activities (NACS ) Trusts, Estates, and Agency Accounts (NACS ) <10 < Source: Economic Modeling Systems nc. (EMS) ) Ady Advantage *These industries are not included in the previous Bubble Plot due to insufficient data. LQ > than Region (by a difference of 1.00) LQ < than Region (by a difference of 1.00) LQ and Regional LQ are not significantly different Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 73 73

74 Section 4.2.E Target ndustry Specific Analysis: Finance & nsurance Comparison of ndustry Concentration (Table 4.2.E.1) n the Finance and nsurance industry, most subsectors have an LQ within one point of the region s LQ. ndian River has a significantly lower LQ in one subsector: All Other nsurance Related Activities (NACS ). The county has a significantly higher LQ than the region in the following two subsectors: nternational Trade Financing (NACS ) Trusts, Estates, and Agency Accounts (NACS ) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 74 74

75 Section 4.2.E Target ndustry Specific Analysis: Finance & nsurance Table 4.2.E.2: Existing ndustry Wage Comparison Average Cluster Wage (Annual) Regional Average Cluster Wage (Annual) U.S. Average Cluster Wage (Annual) Total ndustry (Average Wage) $75,087 $60,290 $95,498 Commercial Banking (NACS ) $54,147 $50,089 $69,500 Credit Unions (NACS ) $39,918 $47,768 $45,404 nternational Trade Financing (NACS ) ** ** $176,912 All Other Nondepository Credit ntermediation (NACS ) $31,456 $28,629 $59,891 Securities Brokerage (NACS ) $207,619 $170,467 $206,236 Commodity Contracts Dealing (NACS ) ** $119,461 $201,484 Portfolio Management (NACS ) $155,032 $77,844 $263,510 nvestment Advice (NACS ) $42,221 $50,322 $164,013 Trust, Fiduciary, and Custody Activities (NACS ) ** $95,931 $116,977 Direct Property and Casualty nsurance Carriers (NACS ) $69,821 $64,837 $82,508 Direct Title nsurance Carriers (NACS ) $56,668 $49,003 $75,176 nsurance Agencies and Brokerages (NACS ) $49,732 $48,718 $68,614 Third Party Administration of nsurance and Pension Funds (NACS ) $75,124 $72,651 $67,286 All Other nsurance Related Activities (NACS ) $77,763 $46,419 $78,005 Trusts, Estates, and Agency Accounts (NACS ) ** ** $90,191 Source: Economic Modeling Systems nc. (EMS) ) Ady Advantage *These industries are not included in the previous Bubble Plot due to insufficient data. **nsufficient data wages > both regional and U.S. wages wages > only regional wages wages < both regional and U.S. wages wages are not significantly different than the region and/or the U.S. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 75 75

76 Section 4.2.E Target ndustry Specific Analysis: Finance & nsurance Comparison of ndustry Wages (Table 4.2.E.2) Overall, the wages for the Finance and nsurance industry are significantly higher than that of the region, but significantly lower than the U.S. average wages. There are two subsectors in which ndian River has higher wages than both the region and the U.S.(shaded in green): Securities Brokerage (NACS ) Third Party Administration of nsurance and Pension Funds (NACS ) There are also two subsectors in which ndian River has lower wages than both the region and the U.S. (shaded in orange): Credit Unions (NACS ) nvestment Advice (NACS ) n seven of the subsectors, ndian River has higher wages than the region, but lower wages than the U.S. (shaded in yellow): Commercial Banking (NACS ) All Other Nondepository Credit ntermediation (NACS ) Portfolio Management (NACS ) Direct Property and Casualty nsurance Carriers (NACS ) Direct Title nsurance Carriers (NACS ) nsurance Agencies and Brokerages (NACS ) All Other nsurance Related Activities (NACS ) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 76 76

77 Section 4.2.E Target ndustry Specific Analysis: Finance & nsurance Table 4.2.E.3: Existing ndustry Employment Growth Comparison ndian River County 10-year Growth ( ) ndian River County 5-year Growth ( ) Regional 10-year Growth ( ) Regional 5-year Growth ( ) U.S. 10-year Growth ( ) U.S. 5-year Growth ( ) Total All ndustries -19% 2% -17% -3% -4% 4% Commercial Banking (NACS ) (10%) (1%) (7%) (27%) (1%) (1%) Credit Unions (NACS ) ** ** 0% (3%) 12% 7% nternational Trade Financing (NACS ) ** ** ** ** (4%) 6% All Other Nondepository Credit ntermediation (NACS ) ** 67% 70% 45% 17% 20% Securities Brokerage (NACS ) 4% 2% (24%) (4%) (7%) (1%) Commodity Contracts Dealing (NACS ) ** ** ** ** 23% 10% Portfolio Management (NACS ) (6%) (12%) 282% 164% 59% 35% nvestment Advice (NACS ) (87%) (19%) (39%) (4%) 60% 31% Trust, Fiduciary, and Custody Activities (NACS ) ** ** ** (44%) (11%) 12% Direct Property and Casualty nsurance Carriers (NACS ) ** (34%) (24%) (35%) (3%) 2% Direct Title nsurance Carriers (NACS ) (80%) 23% (63%) 65% (40%) 6% nsurance Agencies and Brokerages (NACS ) 22% 12% 17% 14% 7% 9% Third Party Administration of nsurance and Pension Funds (NACS ) ** 135% (33%) 2% 37% 28% All Other nsurance Related Activities (NACS ) ** (6%) 399% 94% 38% 29% Trusts, Estates, and Agency Accounts (NACS ) ** ** ** ** (89%) (90%) Source: Economic Modeling Systems nc. (EMS) ) Ady Advantage * These industries are not included in the previous Bubble Plot due to insufficient data. **nsufficient Data growth in the highlighted period > region and U.S. growth in that same period by greater than 10 percentage points. growth in the highlighted period < region and U.S. growth in that same period by greater than 10 percentage points. growth is not significantly higher or lower than both the region and the U.S.. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 77 77

78 Section 4.2.E Target ndustry Specific Analysis: Finance & nsurance Comparison of ndustry Growth (Table 4.2.E.3) The Finance and nsurance industry had negative growth rates for the 10-year period in the county, the region and the U.S. However, ndian River and the U.S. both saw slightly positive growth in the 5-year period. There were three subsectors in which experienced higher 5-year or 10-year growth compared to both the region and the U.S.: All Other Nondepository Credit ntermediation (NACS ) Securities Brokerage (NACS ) Third Party Administration of nsurance and Pension Funds (NACS ) There were also two subsectors that showed significantly lower growth in the 5-year or 10-year period than both the region and the U.S.: Direct Title nsurance Carriers (NACS ) All Other nsurance Related Activities (NACS ) The following subsectors had significantly lower growth in both the 5-year and 10-year periods compared to that of the region and the U.S.: Portfolio Management (NACS ) nvestment Advice (NACS ) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 78 78

79 Rank Section 4.2.E Target ndustry Specific Analysis: Finance & nsurance Table 4.2.E.4 Existing Finance and nsurance ndustry Ranked by Number of Jobs Number of Jobs (2014) ndian River County 5-year Growth ndian River County Cluster Concentratio n (LQ) 1 Commercial Banking (NACS ) 512 (1%) 1.16 (5) 2 nsurance Agencies and Brokerages (NACS ) % (4) 1.35 (4) 3 Securities Brokerage (NACS ) 131 2% (5) 1.38 (3) 4 Third Party Administration of nsurance and Pension Funds (NACS ) % (1) Credit Unions (NACS ) 35 ** Portfolio Management (NACS ) 30 (12%) nvestment Advice (NACS ) 26 (19%) Direct Property and Casualty nsurance Carriers (NACS ) 23 (34%) All Other Nondepository Credit ntermediation (NACS ) 20 67% (2) Direct Title nsurance Carriers (NACS ) 16 23% (3) All Other nsurance Related Activities (NACS ) 16 (6%) Trusts, Estates, and Agency Accounts (NACS ) <10 ** 7.30 (1) 13 nternational Trade Financing (NACS ) <10 ** 2.53 (2) 14 Commodity Contracts Dealing (NACS ) <10 ** Trust, Fiduciary, and Custody Activities (NACS ) <10 ** 0.72 Source: Economic Modeling Systems nc. (EMS) ) Ady Advantage * These industries are not included in the previous Bubble Plot due to insufficient data. **nsufficient Data - Not enough labor data to calculate percentage (started with <10 jobs) Top five (5) in each (# Jobs, Growth, LQ) (rank) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 79 79

80 Section 4.2.E Target ndustry Specific Analysis: Finance & nsurance ndustry Rankings (Table 4.2.E.4) To further explore the Finance and nsurance industry in ndian River, the six-digit NACS codes were used to rank the various sectors by (1) number of jobs, (2) growth, and (3) concentration, or LQ. This helps to ensure that no niche areas that may present an opportunity are overlooked. The list on the previous page includes the top five subsectors for each of the three factors. These are highlighted in green with a ranking number in parentheses. Commercial Banking (NACS ) has the highest number of employees, with 512. The subsector with the second-highest number of employees has about 200 less than that. Of the five subsectors that showed positive 5-year growth, the highest was Third Party Administration of nsurance and Pension Funds (NACS ). Trusts, Estates, and Agency Accounts has the highest LQ in ndian River. What does this mean? There are two subsectors that rank in the top five for all three categories: nsurance Agencies and Brokerages (NACS ) and Securities Brokerages (NACS ). Only five of the ten subsectors had positive 5-year growth Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 80 80

81 Section 4.2.E Target ndustry Specific Analysis: Finance & nsurance Take-Aways Star ndustries Securities Brokerage (NACS ) employs about 131 people in ndian River, with an LQ of 1.35, slightly above the U.S. average. Employees in this subsector earn, on average, $207,619, which is significantly higher than wages in the region ($170,467) and slightly higher than that of the U.S. ($206,236). This subsector saw positive growth of 2% in the 5-year period. nsurance Agencies and Brokerages (NACS ) is the second largest subsector, employing 322 people. These people earn an average of $49,732, which is slightly higher than that of the region ($48,718) and lower than the U.S. average ($68,614). With an LQ of 1.35, it is slightly above the region s LQ of This subsector saw a greater positive growth rate (22%) in the 10-year period than both the region and the U.S. with growth rates of 17% and 7%, respectively. Opportunities All Other Nondepository Credit ntermediation (NACS ) only employs 20 people in the region and has an LQ of 0.86, which is slightly below the region s LQ of Employees in this subsector earn an average annual wage of $31,456, which is more than their counterparts in the region ($28,629). This is also significantly less than the U.S. average for this subsector ($59,891). n the past 5 years, this subsector has grown 67%, while the subsector has only grown 45% in the region and 20% in the U.S. Direct Title nsurance Carriers (NACS ) has an LQ of 0.81, which is slightly lower than the region and the U.S. average. Although it only employs 16 people, they earn, on average, $56,668, which is significantly higher than their counterparts in the region. The U.S. average annual wage for this subsector is much higher at $75,176. This industry saw negative growth of 80% in the 10-year period, but a positive growth of 23% in the last 5 years. The region and the U.S. also had positive growth rates for the 5-year period of 65% and 6%, respectively. Third Party Administration of nsurance and Pension Funds (NACS ) employs only 40 people in the region and has an LQ lower than the U.S. average; however, this subsector saw significant 5-year growth of 135%, while the region s subsector only grew by 2% and the U.S. by 28%. Employees in this subsector earn about $75,124, which is higher than their counterparts in the region ($72,651) and the U.S. ($67,286). Mainstays Commercial Banking (NACS ) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 81 81

82 MANSTAYS Section 4.2.F Target ndustry Specific Analysis: Professional, Scientific and Technical Services 6 22 Graph 4.2.F: Current ndustry Analysis 4.80 STARS Specific ndustry Concentration (LQ) Specific ndustry Growth (2010 to 2014) 1 Offices of Lawyers (NACS ) 2 Title Abstract and Settlement Offices (NACS ) 3 Offices of Certified Public Accountants (NACS ) 4 Tax Preparation Services (NACS ) 5 Payroll Services (NACS ) 6 Other Accounting Services (NACS ) 7 Architectural Services (NACS ) 8 Engineering Services (NACS ) Surveying and Mapping (except Geophysical) Services (NACS ) 10 nterior Design Services (NACS ) 11 Graphic Design Services (NACS ) 12 Custom Computer Programming Services (NACS ) 13 Computer Systems Design Services (NACS ) Administrative Management and General Management 14 Consulting Services (NACS ) 15 Marketing Consulting Services (NACS ) 16 Other Management Consulting Services (NACS ) 17 Environmental Consulting Services (NACS ) Other Scientific and Technical Consulting Services (NACS ) Research and Development in the Physical, Engineering, and 19 Life Sciences (except Biotechnology) (NACS ) 20 Advertising Agencies (NACS ) 21 Other Services Related to Advertising (NACS ) 22 Veterinary Services (NACS ) -90% -40% % 60% 110% 160% 210% (0.20) REACTVE OPPORTUNTES Circle Size = Number of employees in Source: Economic Modeling Systems nc. (EMS) Ady Advantage Total Number of Employees: 2,071 = 50 employees Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 82 82

83 Table 4.2.F.1: Existing ndustry Concentration Comparison Total Employment Regional Total Employment ndian River County Cluster Concentration Regional Cluster Concentration Total All ndustries 2,071 17, Offices of Lawyers (NACS ) 327 2, Title Abstract and Settlement Offices (NACS ) All Other Legal Services (NACS )* < Offices of Certified Public Accountants (NACS ) Tax Preparation Services (NACS ) Payroll Services (NACS ) Other Accounting Services (NACS ) Architectural Services (NACS ) Landscape Architectural Services (NACS )* Engineering Services (NACS ) 182 2, Drafting Services (NACS )* < Surveying and Mapping (except Geophysical) Services (NACS ) nterior Design Services (NACS ) ndustrial Design Services (NACS )* Graphic Design Services (NACS ) Custom Computer Programming Services (NACS ) 29 1, Computer Systems Design Services (NACS ) 83 1, Administrative Management and General Management Consulting Services (NACS ) Human Resources Consulting Services (NACS )* Marketing Consulting Services (NACS ) Other Management Consulting Services (NACS ) Environmental Consulting Services (NACS ) Other Scientific and Technical Consulting Services (NACS ) Research and Development in Biotechnology (NACS )* Research and Development in the Physical, Engineering, and Life Sciences (except Biotechnology) (NACS ) Advertising Agencies (NACS ) Other Services Related to Advertising (NACS ) Veterinary Services (NACS ) 183 1, Source: Economic Modeling Systems nc. (EMS) ) Ady Advantage *These industries are not included in the previous Bubble Plot due to insufficient data. LQ > than Region (by a difference of 1.00) LQ < than Region (by a difference of 1.00) LQ and Regional LQ are not significantly different Section 4.2.F Target ndustry Specific Analysis: Professional, Scientific and Technical Services Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 83 83

84 Section 4.2.F Target ndustry Specific Analysis: Professional, Scientific and Technical Services Comparison of ndustry Concentration (Table 4.2.F.1) n the Professional, Scientific and Technical Services industry, many of the subsectors have an LQ that is less than one and within one point of the regional LQ. There are several subsectors in which ndian River has a significantly higher LQ than the rest of the region (shaded in green): Other Accounting Services (NACS ) Landscape Architectural Services (NACS ) Drafting Services (NACS ) nterior Design Services (NACS ) ndustrial Design Services (NACS ) Human Resources Consulting Services (NACS ) Other Services Related to Advertising (NACS ) There is only one subsector that has a higher LQ in the region than in ndian River (shaded in orange): Payroll Services (NACS ) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 84 84

85 Table 4.2.F.2: Existing ndustry Wage Comparison Average Cluster Wage (Annual) Regional Average Cluster Wage (Annual) Section 4.2.F Target ndustry Specific Analysis: Professional, Scientific and Technical Services U.S. Average Cluster Wage (Annual) Total ndustry (Average Wage) $58,548 $63,253 $84,914 Offices of Lawyers (NACS ) $92,342 $66,904 $88,771 Title Abstract and Settlement Offices (NACS ) $49,532 $45,921 $50,574 All Other Legal Services (NACS )* ** $46,283 $64,039 Offices of Certified Public Accountants (NACS ) $51,215 $52,396 $80,568 Tax Preparation Services (NACS ) $19,690 $19,141 $27,928 Payroll Services (NACS ) $80,693 $36,335 $63,619 Other Accounting Services (NACS ) $43,751 $38,433 $53,494 Architectural Services (NACS ) $66,780 $69,295 $77,061 Landscape Architectural Services (NACS )* $26,141 $37,199 $51,264 Engineering Services (NACS ) $82,636 $82,574 $90,367 Drafting Services (NACS )* ** $42,236 $54,286 Surveying and Mapping (except Geophysical) Services (NACS ) $27,678 $64,985 $53,615 nterior Design Services (NACS ) $42,628 $37,314 $53,771 ndustrial Design Services (NACS )* $24,679 $36,269 $77,095 Graphic Design Services (NACS ) $25,384 $33,245 $60,115 Custom Computer Programming Services (NACS ) $70,338 $82,959 $105,599 Computer Systems Design Services (NACS ) $90,832 $85,163 $100,109 Administrative Management and General Management Consulting Services (NACS ) $57,920 $70,687 $102,047 Human Resources Consulting Services (NACS )* $30,169 $50,535 $82,695 Marketing Consulting Services (NACS ) $83,931 $53,234 $73,891 Other Management Consulting Services (NACS ) $113,763 $90,115 $88,206 Environmental Consulting Services (NACS ) $49,697 $74,161 $70,637 Other Scientific and Technical Consulting Services (NACS ) $64,127 $59,699 $77,238 Research and Development in Biotechnology (NACS )* $92,737 $79,875 $135,330 Research and Development in the Physical, Engineering, and Life Sciences (except Biotechnology) (NACS ) $41,173 $79,552 $116,052 Advertising Agencies (NACS ) $39,915 $47,986 $92,755 Other Services Related to Advertising (NACS ) $8,320 $20,361 $29,897 Veterinary Services (NACS ) $33,503 $33,677 $34,559 Source: Economic Modeling Systems nc. (EMS) ) Ady Advantage *These industries are not included in the previous Bubble Plot due to insufficient data. **nsufficient data wages > both regional and U.S. wages wages > only regional wages wages < both regional and U.S. wages wages are not significantly different than the region and/or the U.S. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 85 85

86 Comparison of ndustry Wages (Table 4.2.F.2) Overall, the wages for the this industry are lower than that of the region and significantly lower than the U.S. average. Section 4.2.F Target ndustry Specific Analysis: Professional, Scientific and Technical Services There are only four subsectors in which ndian River has higher wages than both the region and the U.S. (shaded in green): Offices of Lawyers (NACS ) Payroll Services (NACS ) Marketing Consulting Services (NACS ) Other Management Consulting Services (NACS ) ndian River has higher wages than the region, but lower wages than the U.S. in the following subsectors (shaded in yellow): Title Abstract and Settlement Offices (NACS ) Tax Preparation Services (NACS ) Other Accounting Services (NACS ) Engineering Services (NACS ) nterior Design Services (NACS ) Computer Systems Design Services (NACS ) Other Scientific and Technical Consulting Services (NACS ) Research and Development in Biotechnology (NACS ) All of the other subsectors have lower wages in ndian River than both the region and the U.S. (shaded in orange). Some of the significant differences are found in the following subsectors: Landscape Architectural Services (NACS ) Surveying and Mapping (except Geophysical) Services (NACS ) Environmental Consulting Services (NACS ) Research and Development in the Physical, Engineering and Life Sciences (except Biotechnology) (NACS ) Advertising Agencies (NACS ) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 86 86

87 Section 4.2.F Target ndustry Specific Analysis: Professional, Scientific and Technical Services Table 4.2.F.3: Existing ndustry Employment Growth Comparison ndian River County 10-year Growth ( ) ndian River County 5-year Growth ( ) Regional 10-year Growth ( ) Regional 5-year Growth ( ) U.S. 10-year Growth ( ) U.S. 5-year Growth ( ) Total All ndustries 1% 1% -5% -1% 19% 13% Offices of Lawyers (NACS ) (19%) (5%) (12%) (5%) (3%) 0% Title Abstract and Settlement Offices (NACS ) (60%) (8%) (39%) 40% (26%) 12% All Other Legal Services (NACS )* ** ** 39% 58% 57% 24% Offices of Certified Public Accountants (NACS ) (18%) (9%) (44%) 4% 10% 9% Tax Preparation Services (NACS ) 40% 19% (38%) (32%) 20% 9% Payroll Services (NACS ) ** (29%) 4931% 436% 36% 29% Other Accounting Services (NACS ) 75% (34%) 29% (19%) 6% 5% Architectural Services (NACS ) (46%) 0% (32%) (15%) (14%) 6% Landscape Architectural Services (NACS )* ** ** 35% 62% (29%) (1%) Engineering Services (NACS ) (35%) (7%) (17%) (15%) 12% 7% Drafting Services (NACS )* ** ** (46%) ** (22%) 9% Surveying and Mapping (except Geophysical) Services (NACS ) (61%) 41% (55%) 22% (26%) 14% nterior Design Services (NACS ) (25%) 6% (51%) (8%) (5%) 23% ndustrial Design Services (NACS )* ** ** (45%) 169% 19% 21% Graphic Design Services (NACS ) (86%) (80%) (7%) (5%) (6%) 6% Custom Computer Programming Services (NACS ) (41%) (15%) (3%) (3%) 46% 23% Computer Systems Design Services (NACS ) 159% 196% 66% 18% 65% 27% Administrative Management and General Management Consulting Services (NACS ) 100% 10% 61% 22% 51% 24% Human Resources Consulting Services (NACS )* 142% ** (6%) 98% 2% 14% Marketing Consulting Services (NACS ) (35%) 80% (12%) 19% 69% 32% Other Management Consulting Services (NACS ) 147% 0% 21% 12% 8% 7% Environmental Consulting Services (NACS ) 50% 13% (1%) (8%) 22% 10% Other Scientific and Technical Consulting Services (NACS ) ** 82% 119% 50% 161% 45% Research and Development in Biotechnology (NACS )* ** ** 341% 253% 16% 9% Research and Development in the Physical, Engineering, and Life Sciences (except Biotechnology) (NACS ) (73%) (61%) (14%) (26%) 14% 2% Advertising Agencies (NACS ) (29%) (41%) (51%) (32%) 12% 16% Other Services Related to Advertising (NACS ) 544% 73% 182% 65% 22% 32% Veterinary Services (NACS ) 10% (19%) 20% 1% 22% 11% Source: Economic Modeling Systems nc. (EMS) ) Ady Advantage * These industries are not included in the previous Bubble Plot due to insufficient data. **nsufficient Data growth in the highlighted period > region and U.S. growth in that same period by 10 percentage points. growth in the highlighted period < region and U.S. growth in that same period by10 percentage points. growth is not significantly higher or lower than both the region and the U.S.. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 87 87

88 Comparison of ndustry Growth (Table 4.2.F.3) Section 4.2.F Target ndustry Specific Analysis: Professional, Scientific and Technical Services The Professional, Scientific and Technical Services industry grew less in the past 5 years in ndian River and the region than in the U.S. ndian River only saw a 1% growth in this industry during the 5-year period. Two subsectors showed significantly higher growth in in both the 5-year and 10-year periods compared to that of the region and the U.S.: Tax Preparation Services (NACS ) Computer Systems Design Services (NACS ) However, there were also three subsectors that showed significantly less growth in both the 5-year and 10-year periods compared to that of the region and the U.S. Title Abstract and Settlement Offices (NACS ) Graphic Design Services (NACS ) Research and Development in the Physical, Engineering, and Life Sciences (except Biotechnology) (NACS ) The following industries had significantly higher growth in ndian River in either the 5-year or 10-year period compared to the region and the U.S.: Surveying and Mapping (except Geophysical) Services (NACS ) Human Resources Consulting Services (NACS ) Other Management Consulting Services (NACS ) Environmental Consulting Services (NACS ) Other Scientific and Technical Consulting Services (NACS ) There were also some subsectors that showed significantly lower growth than either the region or the U.S. in the 10-year or 5-year periods: Offices of Certified Public Accountants (NACS ) Payroll Services (NACS ) Architectural Services (NACS ) Engineering Services (NACS ) Custom Computer Programming Services (NACS ) Veterinary Services (NACS ) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 88 88

89 Comparison of ndustry Growth (Table 4.2.F.3) (continued) Section 4.2.F Target ndustry Specific Analysis: Professional, Scientific and Technical Services nterestingly, three subsectors showed significantly higher growth in either the 5-year or 10-year period, but significantly lower growth in the other period: Other Accounting Services (NACS ) Administrative Management and General Management Consulting Services (NACS ) Marketing Consulting Services (NACS ) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 89 89

90 Rank Table 4.2.F.4 Existing Professional, Scientific and Technical Services ndustry Ranked by Number of Jobs Number of Jobs (2014) ndian River County 5-year Growth Section 4.2.F Target ndustry Specific Analysis: Professional, Scientific and Technical Services ndian River County Cluster Concentration (LQ) 1 Offices of Lawyers (NACS ) 327 (5%) Other Accounting Services (NACS ) 221 (34%) 2.64 (5) 3 Veterinary Services (NACS ) 183 (19%) Engineering Services (NACS ) 182 (7%) Administrative Management and General Management Consulting Services (NACS ) % Other Services Related to Advertising (NACS ) % (4) 4.17 (3) 7 Offices of Certified Public Accountants (NACS ) 97 (9%) Computer Systems Design Services (NACS ) % (1) Architectural Services (NACS ) 83 0% Tax Preparation Services (NACS ) 56 19% nterior Design Services (NACS ) 56 6% 4.43 (2) 12 Landscape Architectural Services (NACS )* 52 ** 5.03 (1) 13 Research and Development in Biotechnology (NACS )* 48 ** Other Management Consulting Services (NACS ) 47 0% Human Resources Consulting Services (NACS )* 46 ** Marketing Consulting Services (NACS ) 36 80% (3) Other Scientific and Technical Consulting Services (NACS ) 31 82% (2) Surveying and Mapping (except Geophysical) Services (NACS ) 31 41% (5) Custom Computer Programming Services (NACS ) 29 (15%) Advertising Agencies (NACS ) 20 (41%) Environmental Consulting Services (NACS ) 18 13% ndustrial Design Services (NACS )* 14 ** 2.83 (4) 23 Title Abstract and Settlement Offices (NACS ) 12 (8%) Research and Development in the Physical, Engineering, and Life Sciences (except Biotechnology) (NACS ) 11 (61%) Payroll Services (NACS ) 10 (29%) Graphic Design Services (NACS ) 10 (80%) Drafting Services (NACS )* <10 ** 2.64 (5) 28 All Other Legal Services (NACS )* <10 ** 0.95 Source: Economic Modeling Systems nc. (EMS) ) Ady Advantage * These industries are not included in the previous Bubble Plot due to insufficient data. **nsufficient data Top five (5) in each (# Jobs, Growth, LQ) (rank) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 90 90

91 ndustry Rankings (Table 4.2.F.4) To further explore the Professional, Scientific and Technical Services industry in ndian River, the six-digit NACS codes were used to rank the various sectors by (1) number of jobs, (2) growth, and (3) concentration, or LQ. This helps to ensure that no niche areas that may present an opportunity are overlooked. The list on the previous page includes the top five subsectors for each of the three factors. These are highlighted in green with a ranking number in parentheses. Offices of Lawyers (NACS ) employs the most people in ndian River (327). The second-highest number of employees are found in the subsector Other Accounting Services (NACS ), which employs almost 100 fewer people than Offices of Lawyers. Nine subsectors in this industry saw positive growth over the past 5-years, but Computer Systems Design Services grew significantly more than all of the other subsectors. Employing 52 people in ndian River, Landscape Architectural Services (NACS ) has the highest LQ of Section 4.2.F Target ndustry Specific Analysis: Professional, Scientific and Technical Services What does this mean? None of the subsectors ranked in the top five in all three categories. We do not see a correlation between number of employees and LQ in this industry. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 91 91

92 Section 4.2.F Target ndustry Specific Analysis: Professional, Scientific and Technical Services Take-Aways Star ndustries Tax Preparation Services (NACS541213) employs 56 people in ndian River, who earn, on average, $19,690. These wages are slightly above that of the region ($19,141) and significantly lower than the U.S. ($27,928). This subsector saw 40% growth in the 10-year period and 19% growth in the 5-year period, while the region had a negative growth rate of 38% and 32% for the 10-year and 5-year periods, respectively. The U.S. had positive growth in this subsector as well, but slightly less than ndian River. With an LQ of 1.41, it is more concentrated than the U.S. and the region (1.13). Surveying and Mapping (except Geophysical) Services (NACS ) has an LQ of 1.90, which is just slightly above that of the region (1.80). This subsector employs 31 people in ndian River who earn about $27,678, which is significantly less than their counterparts in the region ($64,985) and in the U.S. ($53,615). During the 10-year period, this subsector experienced negative growth in ndian River, the region, and the U.S. However, in the 5-year period this subsector grew positively in ndian River (41%), the region (22%), and the U.S. (14%). nterior Design Services (NACS541410) has the second-highest LQ, 4.43, in ndian River out of all of the Professional, Scientific and Technical Services. Employing 56 people in ndian River, this subsector experienced 6% growth in the 5-year period, while the region saw a negative growth of 8% and the subsector grew by 23% in the U.S. Employees in this industry earn, on average, $42,628, which is more than their regional counterparts ($37,314), but less than their counterparts in the U.S. ($53,771). Administrative Management and General Management Consulting Services (NACS541611) ranks number 5 in the Professional, Scientific and Technical Services industry in terms of employment, with 162 employees. These employees earn an average annual wage of $57,920. Employees of this subsector in the region earn $70,687 and $102,047 in the U.S. This subsector has an LQ of 1.01, which is just above the U.S. average, and also above the regional LQ (0.71). n the 10- year period, this subsector saw growth of 100%, but only 10% growth in the past 5 years. Other Services Related to Advertising (NACS ) has the third largest LQ in this industry at 4.17, which is significantly higher than that of the region (0.98). This subsector employs 116 people who earn, on average, $8,320. This is significantly less than their counterparts in the region ($20,361) and in the U.S. ($29,897). This subsector had the highest 10-year growth rate of 544%, while the region grew by 182% and the U.S. grew by 65% in that same period. n the 5- year period, this subsector grew 73% in ndian River, 65% in the region and 32% in the U.S. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 92 92

93 Section 4.2.F Target ndustry Specific Analysis: Professional, Scientific and Technical Services Take-Aways Opportunities Computer Systems Design Services (NACS541512) employs 83 people in ndian River, despite a significantly low LQ of These employees earn more than their regional counterparts, $90,832, compared to $85,163. However, they earn less than the U.S. average for this subsector ($100,109). This subsector saw significant growth in both the 10-year and 5-year periods of 159% and 196%, respectively. Marketing Consulting Services (NACS ) has a low LQ of 0.53 and only employs 36 people in ndian River, but these employees earn about $83,931, which is significantly higher than that of the region ($53,234) and the U.S. ($73,891). Although both ndian River and the region experienced negative growth in this subsector for the 10-year period, both saw high growth in the 5-year period, 80% and 19% respectively. The U.S. also saw positive growth during this 5-year period (32%). Environmental Consulting Services (NACS ) in ndian River grew by 50% in the 10-year period and 13% in the 5-year period. The region experienced negative growth in both of these periods, and the U.S. saw slightly lower growth than ndian River. Employing only 18 people in ndian River, its LQ is 0.61, which is lower than the region s LQ of Employees in this subsector earn $49,697, significantly less than their counterparts in the region ($74,161) and in the U.S. ($70,637). Other Scientific and Technical Consulting Services (NACS ) in ndian River and the region have lower LQ s than the U.S. average, 0.40 and 0.76, respectively. This subsector employs only 31 people in ndian River. These employees earn $64,127, which is more than their regional counterparts ($59,699), but less than their U.S. counterparts ($77,238). This subsector experienced higher 5-year growth in ndian River (82%) than in both the region (50%) and the U.S. (45%). Mainstays Offices of Lawyers (NACS ) Other Accounting Services (NACS ) Architectural Services (NACS ) Other Management Consulting Services (NACS ) Veterinary Services (NACS ) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 93 93

94 1 Offices of Physicians (except Mental Health Specialists) (NACS ) 2 Offices of Physicians, Mental Health Specialists (NACS ) 3 Offices of Dentists (NACS ) 4 Offices of Chiropractors (NACS ) 5 Offices of Optometrists (NACS ) Section 4.2.G Target ndustry Specific Analysis: Health Care and Social Assistance 6 Offices of Mental Health Practitioners (except Physicians) (NACS ) Offices of Physical, Occupational and Speech Therapists, and Audiologists 7 (NACS ) 8 Offices of Podiatrists (NACS ) 9 Offices of All Other Miscellaneous Health Practitioners (NACS ) 10 Kidney Dialysis Centers (NACS ) 11 Freestanding Ambulatory Surgical and Emergency Centers (NACS ) 12 All Other Outpatient Care Centers (NACS ) 13 Medical Laboratories (NACS ) 14 Diagnostic maging Centers (NACS ) 15 Home Health Care Services (NACS ) 16 General Medical and Surgical Hospitals (NACS ) 17 Psychiatric and Substance Abuse Hospitals (NACS ) 18 Specialty (except Psychiatric and Substance Abuse) Hospitals (NACS ) 19 Nursing Care Facilities (Skilled Nursing Facilities) (NACS ) 20 Continuing Care Retirement Communities (NACS ) 21 Assisted Living Facilities for the Elderly (NACS ) 22 Other Residential Care Facilities (NACS ) 23 Child and Youth Services (NACS ) 24 Services for the Elderly and Persons with Disabilities (NACS ) 25 Other ndividual and Family Services (NACS ) 26 Vocational Rehabilitation Services(NACS ) 27 Child Day Care Services (NACS ) MANSTAYS l o Specific ndustry Growth 23 o (2010 to 2014) % -50% -30% -10% 10% 30% 50% 70% 90% 110% REACTVE OPPORTUNTES 0.00 Circle Size = Number of employees in Source: Economic Modeling Systems nc. (EMS) Ady Advantage Graph 4.2.G: Current ndustry Analysis Specific ndustry Concentration (LQ) 20 0 STARS Total Number of Employees: 8,529 Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date = 100 employees 94

95 Section 4.2.G Target ndustry Specific Analysis: Health Care and Social Assistance Table 4.2.G.1: Existing ndustry Concentration Comparison Total Employment Regional Total Employment ndian River County Cluster Concentration Regional Cluster Concentration Total All ndustries 8,529 58, Offices of Physicians (except Mental Health Specialists) (NACS ) 1,620 11, Offices of Physicians, Mental Health Specialists (NACS ) Offices of Dentists (NACS ) 448 3, Offices of Chiropractors (NACS ) Offices of Optometrists (NACS ) Offices of Mental Health Practitioners (except Physicians) (NACS ) Offices of Physical, Occupational and Speech Therapists, and Audiologists (NACS ) Offices of Podiatrists (NACS ) Offices of All Other Miscellaneous Health Practitioners (NACS ) Kidney Dialysis Centers (NACS ) Freestanding Ambulatory Surgical and Emergency Centers (NACS ) All Other Outpatient Care Centers (NACS ) Medical Laboratories (NACS ) Diagnostic maging Centers (NACS ) Home Health Care Services (NACS ) 691 3, General Medical and Surgical Hospitals (NACS ) 2,222 13, Psychiatric and Substance Abuse Hospitals (NACS ) Specialty (except Psychiatric and Substance Abuse) Hospitals (NACS ) Nursing Care Facilities (Skilled Nursing Facilities) (NACS ) 542 6, Continuing Care Retirement Communities (NACS ) 738 1, Assisted Living Facilities for the Elderly (NACS ) 344 1, Other Residential Care Facilities (NACS ) Child and Youth Services (NACS ) Services for the Elderly and Persons with Disabilities (NACS ) Other ndividual and Family Services (NACS ) 155 1, Vocational Rehabilitation Services(NACS ) 153 1, Child Day Care Services (NACS ) 458 2, Source: Economic Modeling Systems nc. (EMS) ) Ady Advantage *These industries are not included in the previous Bubble Plot due to insufficient data. LQ > than Region (by a difference of 1.00) LQ < than Region (by a difference of 1.00) LQ and Regional LQ are not significantly different Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 95 95

96 Section 4.2.G Target ndustry Specific Analysis: Health Care and Social Assistance Comparison of ndustry Concentration (Table 4.2.G.1) n the Health Care and Social Assistance industry, many of the subsectors have an LQ that is within one point of the regional LQ. There are only two subsectors in which ndian River has a significantly higher concentration than the region and the U.S. (shaded in green): Specialty (except Psychiatric and Substance Abuse) Hospitals (NACS ) Continuing Care Retirement Communities (NACS ) The following subsectors have significantly lower LQ s in ndian River than that of the region (shaded in orange): All Other Outpatient Care Centers (NACS ) Diagnostic maging Centers (NACS ) Psychiatric and Substance Abuse Hospitals (NACS ) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 96 96

97 Section 4.2.G Target ndustry Specific Analysis: Health Care and Social Assistance Table 4.2.G.2: Existing ndustry Wage Comparison Average Cluster Wage (Annual) Regional Average Cluster Wage (Annual) U.S. Average Cluster Wage (Annual) Total ndustry (Average Wage) $42,725 $44,564 $45,256 Offices of Physicians (except Mental Health Specialists) (NACS ) $66,769 $75,149 $82,430 Offices of Physicians, Mental Health Specialists (NACS ) $58,466 $48,716 $55,924 Offices of Dentists (NACS ) $46,462 $48,396 $47,244 Offices of Chiropractors (NACS ) $34,286 $32,338 $30,271 Offices of Optometrists (NACS ) $33,710 $33,507 $37,540 Offices of Mental Health Practitioners (except Physicians) (NACS ) $28,216 $34,271 $37,746 Offices of Physical, Occupational and Speech Therapists, and Audiologists (NACS ) $37,039 $42,883 $42,336 Offices of Podiatrists (NACS ) $40,369 $49,953 $42,872 Offices of All Other Miscellaneous Health Practitioners (NACS ) $37,142 $46,797 $39,755 Kidney Dialysis Centers (NACS ) $42,081 $47,682 $52,580 Freestanding Ambulatory Surgical and Emergency Centers (NACS ) $36,158 $40,005 $56,890 All Other Outpatient Care Centers (NACS ) $33,031 $47,419 $55,642 Medical Laboratories (NACS ) $66,560 $56,400 $57,382 Diagnostic maging Centers (NACS ) $24,729 $51,559 $60,273 Home Health Care Services (NACS ) $34,337 $36,068 $27,974 General Medical and Surgical Hospitals (NACS ) $50,035 $45,831 $57,643 Psychiatric and Substance Abuse Hospitals (NACS ) $44,060 $37,415 $42,712 Specialty (except Psychiatric and Substance Abuse) Hospitals (NACS ) $54,546 $47,321 $56,481 Nursing Care Facilities (Skilled Nursing Facilities) (NACS ) $29,098 $29,716 $30,362 Continuing Care Retirement Communities (NACS ) $24,830 $23,182 $26,536 Assisted Living Facilities for the Elderly (NACS ) $20,983 $22,779 $22,630 Other Residential Care Facilities (NACS ) $22,027 $28,280 $28,975 Child and Youth Services (NACS ) $30,052 $33,116 $30,617 Services for the Elderly and Persons with Disabilities (NACS ) $24,491 $20,009 $15,755 Other ndividual and Family Services (NACS ) $29,648 $33,274 $32,332 Vocational Rehabilitation Services(NACS ) $12,555 $23,812 $24,529 Child Day Care Services (NACS ) $19,555 $18,998 $20,186 Source: Economic Modeling Systems nc. (EMS) ) Ady Advantage *These industries are not included in the previous Bubble Plot due to insufficient data. **nsufficient data wages > both regional and U.S. wages wages > only regional wages wages < both regional and U.S. wages wages are not significantly different than the region and/or the U.S. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 97 97

98 Section 4.2.G Target ndustry Specific Analysis: Health Care and Social Assistance Comparison of ndustry Wages (Table 4.2.G.2) Overall, the wages for this industry are slightly lower than that of the regional and the U.S. averages. There are only five subsectors in which ndian River has higher wages than both the region and the U.S. (shaded in green): Offices of Physicians, Mental Health Specialists (NACS ) Offices of Chiropractors (NACS ) Medical Laboratories (NACS ) Psychiatric and Substance Abuse Hospitals (NACS ) Services for the Elderly and Persons with Disabilities (NACS ) ndian River has higher wages than the region, but lower wages than the U.S. in the following subsectors (shaded in yellow): Offices of Optometrists (NACS ) General Medical and Surgical Hospitals (NACS ) Specialty (except Psychiatric and Substance Abuse) Hospitals (NACS ) Continuing Care Retirement Communities (NACS ) Child Day Care Services (NACS ) All of the other subsectors have lower wages in ndian River than both the region and the U.S. (shaded in orange). Some of the significant differences are found in the following subsectors: Offices of Physicians (except Mental Health Specialists) (NACS ) All Other Outpatient Care Centers (NACS ) Diagnostic maging Centers (NACS ) Vocational Rehabilitation Services(NACS ) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 98 98

99 Section 4.2.G Target ndustry Specific Analysis: Health Care and Social Assistance Table 4.2.G.3: Existing ndustry Employment Growth Comparison ndian River County 10-year Growth ( ) ndian River County 5-year Growth ( ) Regional 10-year Growth ( ) Regional 5-year Growth ( ) U.S. 10-year Growth ( ) U.S. 5-year Growth ( ) Total All ndustries 17% 9% 25% 7% 25% 11% Offices of Physicians (except Mental Health Specialists) (NACS ) 6% 9% 26% 9% 19% 7% Offices of Physicians, Mental Health Specialists (NACS ) (47%) (59%) (15%) (3%) 22% 15% Offices of Dentists (NACS ) 14% 15% 24% 17% 16% 9% Offices of Chiropractors (NACS ) (6%) 14% 18% 15% 13% 7% Offices of Optometrists (NACS ) 27% (52%) 83% 7% 30% 14% Offices of Mental Health Practitioners (except Physicians) (NACS ) (8%) (8%) 22% 20% 37% 20% Offices of Physical, Occupational and Speech Therapists, and Audiologists (NACS ) 74% 18% 106% 17% 59% 22% Offices of Podiatrists (NACS ) 40% 17% (4%) (4%) 2% (2%) Offices of All Other Miscellaneous Health Practitioners (NACS ) 24% 11% 70% 14% 119% 35% Kidney Dialysis Centers (NACS ) (51%) 2% 40% (1%) 51% 20% Freestanding Ambulatory Surgical and Emergency Centers (NACS ) 42% 106% 69% 150% 69% 27% All Other Outpatient Care Centers (NACS ) 62% (57%) 711% 117% 57% 24% Medical Laboratories (NACS ) 94% (6%) 51% 50% 31% 12% Diagnostic maging Centers (NACS ) 88% 67% 69% (7%) 16% 1% Home Health Care Services (NACS ) 108% 8% 67% (9%) 55% 17% General Medical and Surgical Hospitals (NACS ) 16% 8% 9% 4% 10% 3% Psychiatric and Substance Abuse Hospitals (NACS ) ** 77% (17%) (24%) 14% 4% Specialty (except Psychiatric and Substance Abuse) Hospitals (NACS ) (30%) 19% (19%) 58% 33% 2% Nursing Care Facilities (Skilled Nursing Facilities) (NACS ) (5%) (8%) 11% 2% 5% (0%) Continuing Care Retirement Communities (NACS ) 27% 19% 143% 34% 45% 11% Assisted Living Facilities for the Elderly (NACS ) 262% 44% 48% 28% 29% 15% Other Residential Care Facilities (NACS ) 133% (53%) 128% (3%) (3%) (1%) Child and Youth Services (NACS ) ** 3% 7% 8% 17% 4% Services for the Elderly and Persons with Disabilities (NACS ) (52%) (31%) 77% 4% 215% 109% Other ndividual and Family Services (NACS ) (9%) 101% 24% 19% 22% 3% Vocational Rehabilitation Services(NACS ) 1291% 6% 3% (8%) 4% (2%) Child Day Care Services (NACS ) 43% 38% 4% (2%) 9% 3% Source: Economic Modeling Systems nc. (EMS) ) Ady Advantage * These industries are not included in the previous Bubble Plot due to insufficient data. **nsufficient data growth in the highlighted period > region and U.S. growth in that same period by greater than 10 percentage points. growth in the highlighted period < region and U.S. growth in that same period by greater than 10 percentage points. growth is not significantly higher or lower than both the region and the U.S.. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date 99 99

100 Section 4.2.G Target ndustry Specific Analysis: Health Care and Social Assistance Comparison of ndustry Growth (Table 4.2.G.3) The Health Care and Social Assistance industry in ndian River has grown 17% in the 10-year period and 9% in the 5-year period, which is on par with the region, but slightly lower than the U.S. average. There were four subsectors that showed significantly higher growth in both the 5-year and 10-year periods compared to that of the region and the U.S.: Offices of Podiatrists (NACS ) Diagnostic maging Centers (NACS ) Assisted Living Facilities for the Elderly (NACS ) Child Day Care Services (NACS ) However, there were also four subsectors that showed significantly lower growth in both the 5-year and 10-year periods compared to that of the region and the U.S.: Offices of Physicians, Mental Health Specialists (NACS ) Offices of Mental Health Practitioners (except Physicians) (NACS ) Specialty (except Psychiatric and Substance Abuse) Hospitals (NACS ) Services for the Elderly and Persons with Disabilities (NACS ) The following subsectors had significantly higher growth in the 10-year or the 5-year period: Home Health Care Services (NACS ) Vocational Rehabilitation Services(NACS ) Psychiatric and Substance Abuse Hospitals (NACS ) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date

101 Section 4.2.G Target ndustry Specific Analysis: Health Care and Social Assistance Comparison of ndustry Growth (Table 4.2.G.3) (continued) There were also some subsectors that showed significantly lower growth than the region and the U.S. in the 10-year or 5-year periods: Offices of Physicians (except Mental Health Specialists) (NACS ) Offices of Chiropractors (NACS ) Offices of Optometrists (NACS ) Offices of All Other Miscellaneous Health Practitioners (NACS ) Kidney Dialysis Centers (NACS ) Nursing Care Facilities (Skilled Nursing Facilities) (NACS ) Freestanding Ambulatory Surgical and Emergency Centers (NACS ) Other Residential Care Facilities (NACS ) All Other Outpatient Care Centers (NACS ) Continuing Care Retirement Communities (NACS ) nterestingly, two subsectors showed significantly higher growth in either the 5-year or 10-year period, but significantly lower growth in the other period: Medical Laboratories (NACS ) Other ndividual and Family Services (NACS ) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date

102 Rank Section 4.2.G Target ndustry Specific Analysis: Health Care and Social Assistance Table 4.2.G.4 Existing Health Care and Social Assistance ndustry Ranked by Number of Jobs Number of Jobs (2014) ndian River County 5-year Growth ndian River County Cluster Concentration (LQ) 1 General Medical and Surgical Hospitals (NACS ) 2,222 8% Offices of Physicians (except Mental Health Specialists) (NACS ) 1,620 9% Continuing Care Retirement Communities (NACS ) % 4.93 (1) 4 Home Health Care Services (NACS ) 691 8% Nursing Care Facilities (Skilled Nursing Facilities) (NACS ) 542 (8%) Child Day Care Services (NACS ) % Offices of Dentists (NACS ) % Assisted Living Facilities for the Elderly (NACS ) % (5) 2.53 (4) 9 Specialty (except Psychiatric and Substance Abuse) Hospitals (NACS ) % 2.79 (2) 10 Other ndividual and Family Services (NACS ) % (2) Offices of Physical, Occupational and Speech Therapists, and Audiologists (NACS ) % Vocational Rehabilitation Services(NACS ) 153 6% Services for the Elderly and Persons with Disabilities (NACS ) 145 (31%) Freestanding Ambulatory Surgical and Emergency Centers (NACS ) % (1) 2.69 (3) 15 Other Residential Care Facilities (NACS ) 91 (53%) Child and Youth Services (NACS ) 78 3% Offices of Chiropractors (NACS ) 48 14% Kidney Dialysis Centers (NACS ) 47 2% Psychiatric and Substance Abuse Hospitals (NACS ) 46 77% (3) Medical Laboratories (NACS ) 33 (6%) Diagnostic maging Centers (NACS ) 30 67% (4) Offices of Optometrists (NACS ) 28 (52%) Offices of Podiatrists (NACS ) 28 17% 2.40 (5) 24 Offices of All Other Miscellaneous Health Practitioners (NACS ) 21 11% All Other Outpatient Care Centers (NACS ) 21 (57%) Offices of Physicians, Mental Health Specialists (NACS ) 19 (59%) Offices of Mental Health Practitioners (except Physicians) (NACS ) 11 (8%) 0.43 Source: Economic Modeling Systems nc. (EMS) ) Ady Advantage * These industries are not included in the previous Bubble Plot due to insufficient data. **nsufficient data Top five (5) in each (# Jobs, Growth, LQ) (rank) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date

103 Section 4.2.G Target ndustry Specific Analysis: Health Care and Social Assistance ndustry Rankings (Table 4.2.G.4) To further explore the Health Care and Social Assistance industry in ndian River, the six-digit NACS codes were used to rank the various sectors by (1) number of jobs, (2) growth, and (3) concentration, or LQ. This helps to ensure that no niche areas that may present an opportunity are overlooked. The list on the previous page includes the top five subsectors for each of the three factors. These are highlighted in green with a ranking number in parentheses. General Medical and Surgical Hospitals (NACS ) employs the most people in ndian River, with 2,222 employees. This is followed by Offices of Physicians (NACS ), employing 1,620 people, and Continuing Care Retirement Communities (NACS ), employing 738 people. There were two subsectors that experienced growth of over 100% in the past 5 years: Freestanding Ambulatory Surgical and Emergency Centers (NACS ) and Other ndividual and Family Services (NACS ). There are five subsectors in the Health Care and Social Assistance industry with LQ s over two. The highest is Continuing Care Retirement Communities (NACS ) with an LQ of What does this mean? None of the subsectors rank in the top five for all three categories We do not see a correlation between number of jobs and LQ in this industry Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date

104 Section 4.2.G Target ndustry Specific Analysis: Health Care and Social Assistance Take-Aways Star ndustries Offices of Physicians (except Mental Health Specialists) (NACS ) is the second largest subsector in the Health Care and Social Assistance industry in ndian River, employing 1,620 people. t has an LQ of 1.94, which is slightly above the regional LQ of Employees in this subsector earn, on average, $66,769, which is lower than their counterparts in the region ($75,149) and in the U.S. ($82,430). This subsector saw lower growth in the 5-year period in ndian River than in the region and the U.S., but the 5-year growth of 9% is on par with the region and slightly higher than the U.S. growth rate (7%). Offices of Dentists (NACS ) have an above average LQ of 1.46 in ndian River, compared to the regional LQ of Offices of Dentists employ 448 people in ndian River who earn an average annual wage of $46,462, which is similar to that of the region ($48,396) and the U.S. ($47,244). The 10-year and 5-year growth rates for this subsector in ndian River were similar to the region and the U.S. The 5-year growth rates are 15% for ndian River, 17% for the region and 9% for the U.S. Offices of Chiropractors (NACS ) employs 48 people in ndian River and its LQ of 1.09 is slightly lower than that of the region (1.59). These employees earn an average of $34,286, which is slightly above that of the region ($32,338) and the U.S. average ($30,271). Although this subsector experienced negative growth of 6% in the 10-year period, it grew by 14% in the past 5 years. This is on par with the region, which grew 15% in the 5-year period, and above the U.S. 5-year growth rate of 7%. Offices of Physical, Occupational and Speech Therapists, and Audiologists (NACS ) in ndian River, the region and the U.S. saw high 10-year growth of 74%, 106%, and 59%, respectively. With an LQ of 1.32 (slightly higher than the region s LQ of 1.01), this subsector employs 153 people. On average, these employees in ndian River earn $37,039, which is slightly less than their counterparts in both the region ($42,883) and in the U.S. ($42,336). Offices of Podiatrists (NACS ) employs 28 people in ndian River and has an LQ of 2.40, which is higher than the region (1.93) and significantly higher than the U.S. average. These 28 people earn an average annual wage of $40,369 in ndian River, which is significantly less than their regional counterparts who earn $49,953 and just under their U.S. counterparts, who earn $42,872 annually. Kidney Dialysis Centers (NACS ) have an LQ of 1.21 in ndian River, which is higher than the U.S. average, but slightly lower than the region s LQ of The 47 employees in this subsector earn an average annual wage of $42,081 in ndian River, compared to their counterparts in the region ($47,682) and in the U.S. ($52,580). This subsector experienced negative 10-year growth of 51% in ndian River, while the region grew by 40% and the U.S. grew by 51%. Freestanding Ambulatory Surgical and Emergency Centers (NACS ) employs just over 100 people in ndian River and has an LQ of 2.69, which is higher than that of the region (1.76) and the U.S. average. These employees earn an average annual wage of $36,158 in ndian River. Their counterparts in the region earn slightly more ($40,005) and their counterparts in the U.S. earn significantly more ($56,890). Although this subsector experienced a 10-year growth rate less than the region and the U.S., its 5-year growth rate of 106% is below that of the region (150%) and much higher than that of the U.S. (27%). Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date

105 Section 4.2.G Target ndustry Specific Analysis: Health Care and Social Assistance Take-Aways Star ndustries Diagnostic maging Centers (NACS ) accounts for only 30 employees in ndian River, which is why its LQ of 1.25 is less than the region s LQ of These employees earn, on average, $24,729, which is significantly lower than the regional ($51,559) and U.S. ($60,273) average wages in this subsector. ndian River s Diagnostic maging Centers have seen a 10-year growth of 88% and a 5-year growth of 67%, both of which are higher than the growth seen in the region and the U.S. during those same time periods. Home Health Care Services (NACS ) is the fourth-largest Health Care and Social Assistance subsector in ndian River, employing 691 people. ts LQ of 1.59 is slightly above that of the region (1.15). Employees in this subsector earn an average annual wage of $34,337 in ndian River, which is slightly less than their regional counterparts ($36,068), but higher than their U.S. counterparts ($27,974). This subsector experienced an extremely high 10-year growth of 108% compared to that of the region (67%) and the U.S. (55%). General Medical and Surgical Hospitals (NACS ) employs the most people in ndian River s Health Care industry, with 2,222 employees. These employees earn $50,035, which is more than their regional counterparts (45,831), but less than the U.S. average annual wage (57,643). ndian River has an LQ of 1.45 for this subsector, which is only slightly above the regional LQ. With 10-year and 5-year growth rates of 16% and 8% respectively, ndian River had slightly higher growth in both of these time periods than was seen in the region and the U.S. Psychiatric and Substance Abuse Hospitals (NACS ) has an LQ of 1.29, which is slightly above the U.S. average, but significantly below the regional LQ (3.40). This subsector employs 46 people who earn, on average, $44,060, which is more than their counterparts in the region ($37,415) and in the U.S. (42,712). The 5-year growth for this subsector in ndian River was 77%, which is significantly higher than that of the region (-24%) and the U.S. (4%). Specialty (except Psychiatric and Substance Abuse) Hospitals (NACS ) has a significantly higher LQ in ndian River than in the region. ndian River s LQ is 2.79, while the LQ for the region is 0.96 (below the U.S. average). This subsector employs 197 people in ndian River. These employees earn an average annual wage of $54,546, which is more than their regional counterparts ($47,321), but less than the U.S. average (56,481). This subsector experienced negative growth of 30% in the 10-year period, but positive growth of 19% in the 5-year period. Continuing Care Retirement Communities (NACS ) is the third largest Health Care subsector in ndian River in terms of employment. t employs 738 people, who earn an average annual wage of $24,830. These wages are similar to what is found in the region ($23,182) and slightly less than that of the U.S. (26,536). ts LQ of 4.93 is significantly higher than the region s LQ (1.42). The subsector has seen positive growth of 27% in the 10-year period and 19% in the 5- year period. The region grew at a higher growth rate in both time periods, 143% and 34% respectively. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date

106 Section 4.2.G Target ndustry Specific Analysis: Health Care and Social Assistance Take-Aways Star ndustries Assisted Living Facilities for the Elderly (NACS ) employs 344 people in ndian River. ts LQ of 2.53 is slightly higher than that of the region (1.71). ndian River employees in this subsector earn slightly less than their regional and U.S. counterparts by about $2,000 annually. This subsector saw significant 10-year growth in ndian River of 262%, but then slowed to 44% in the 5-year period. Both of these growth rates are higher than the 10-year and 5-year growth rates of both the region and the U.S. Child and Youth Services (NACS ) is a fairly small subsector in ndian River, employing 78 people. t has an LQ of 1.28, which is slightly higher than the region s LQ of This industry has seen fairly stagnant 5-year growth across the board, only growing 3% in ndian River, 8% in the region and 4% in the U.S. Average annual wages for this subsector are also on par with the region and the U.S. Employees in ndian River earn $30,052, while their counterparts in the region earn $33,116 and in the U.S. earn ($30,617). Other ndividual and Family Services (NACS ) employs 155 people in ndian River. The LQ in ndian River is 1.18, which is on par with the region s LQ of Employees in this subsector in ndian River earn, on average, $29,648, which is about $3,000-4,000 less than their regional and U.S. counterparts. This subsector has shown significant 5-year growth of 101% in ndian River, while the region only saw a growth of 19% and the U.S. saw a growth of 3%. Vocational Rehabilitation Services (NACS ) has an LQ of 1.39, which is higher than the U.S. average, but slightly lower than the regional concentration (1.53). This subsector employs 153 people who earn an average annual wage of $12,555 in ndian River. This is significantly less than their counterparts in the region, who earn $23,812, and the U.S. average of $24,529. This subsector in ndian River had the highest 10-year growth rate of 1,291%, but slowed to only 6% in the 5-year period. Both of these growth rates are significantly higher than that of the region and the U.S. Child Day Care Services (NACS ) employs 458 people in ndian River. With an LQ of 1.66, they are slightly more concentrated than the region (1.13). The 458 employees in this subsector earn, on average, $19,555. This is slightly higher than the regional wages ($18,998), but slightly lower than average U.S. wages ($20,186) in this subsector. ndian River s 10-year and 5-year growth of 43% and 38%, respectively, is significantly higher than the growth seen in the regionand the U.S. in those same time periods. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date

107 Section 4.2.G Target ndustry Specific Analysis: Health Care and Social Assistance Take-Aways Opportunities Offices of All Other Miscellaneous Health Practitioners (NACS ) has a significantly lower LQ (0.67) than the U.S. average and the region s LQ of Although this subsector only employs 21 people in ndian River, it has seen positive growth in the 10-and 5-year periods of 24% and 11%, respectively. Both of these growth rates, however, are lower than what was seen in the region and the U.S. during those same time periods. Employees in this subsector earn $37,142 on average, which is about $2,000 less than the U.S. average and almost $10,000 less than the region s wages. Mainstays Offices of Physicians, Mental Health Specialists (NACS ) Other Residential Care Facilities (NACS ) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date

108 Section 4.3 Target ndustry Recommendations-First Pass Analysis First Pass Analysis From the 2-digit NACS code analysis in Chapter 3, seven industries were recommended for further exploration. That section will be included in the target industry recommendations as the first pass of the target industry specific analysis (6-digit). The following is a list of the industries that had originally been recommended for deeper analysis at the 6-digit level for the purpose of finding potential niche markets. ndustry Agriculture/Crop & Animal Production (NACS 11) Manufacturing (NACS 31-33) Transportation and Warehousing (NACS 48-49) nformation (NACS 51) Finance & nsurance (NACS 52) Professional, Scientific & Technical Services (NACS 54) Health Care and Social Assistance (NACS 62) Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date

109 Section 4.4: Target ndustry Recommendations-Second & Third Pass Analysis Second and Third Pass Analysis: Agriculture The following industries were classified as stars or opportunities based on the EMS data, and/or included in the top five sectors based on employment, and/or mentioned by the stakeholders/employers in interviews. ndustry NACS EMS Star or Opportunity Top 5 (based on # of employees) Stakeholder nput nclude? Reason/Comments Crop Production Star No Farm Management Solutions Star Maybe ndustry needs to diversify from citrus production, but replacement industry has not yet been identified Recruit only if it is not tied to citrus and/or can be extended beyond citrus because citrus is down. Animal Production & Aquaculture Opportunity Yes Already exists and shows potential Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date

110 Section 4.4: Target ndustry Recommendations-Second & Third Pass Analysis Second and Third Pass Analysis: Manufacturing The following industries were classified as stars or opportunities based on the EMS data, and/or included in the top five sectors based on employment, and/or mentioned by the stakeholders/employers in interviews. ndustry Frozen Fruit, Juice and Vegetable Manufacturing NACS EMS Star or Opportunity Top 5 (based on # of employees) Stakeholder nput nclude? Star No Nitrogenous Fertilizer Manufacturing Star No Wood Kitchen Cabinet and Countertop Manufacturing Custom Architectural Woodwork and Millwork Manufacturing Reason/Comments We assume this is dependent on the citrus industry. High growth, but not sure where this is coming from. Local ordinances prohibit applying of fertilizer during rainy season, because it ends up in the lagoon Star No Appears to be driven by demand for high-end/custom homes. Tends to Star No follow the real estate market. Aircraft Manufacturing No Ammunition (except Small Arms) Manufacturing Yes Do not want to recruit a competitor company to original equipment manufacturer (OEM) already in the county. Do want to recruit companies that support these large existing companies with supply chain. This industry already exists in. There has been an interest in ndian River County from these types of companies and it fits well with local business climate. /l,advantag~ Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date

111 Section 4.4: Target ndustry Recommendations-Second & Third Pass Analysis Second and Third Pass Analysis: Manufacturing Cont. The following industries were classified as stars or opportunities based on the EMS data, and/or included in the top five sectors based on employment, and/or mentioned by the stakeholders/employers in interviews. ndustry NACS EMS Star or Opportunity Top 5 (based on # of employees) Stakeholder nput nclude? Reason/Comments Other Aluminum Rolling, Drawing, and Extruding Other Commercial and Service ndustry Machinery Manufacturing Cutting Tool and Machine Tool Accessory Manufacturing Rubber and Plastic Hoses and Belting Manufacturing Star BRE* Star BRE* Star BRE* BRE* Machine Shops BRE* These industries provide materials that are used by original equipment manufacturers (OEMs). These companies should be supported and welcomed with open arms, especially if they are supporting an OEM or their supply chain. Not industries to necessarily recruit. *BRE=Business Retention and Expansion Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date

112 Section 4.4: Target ndustry Recommendations-Second & Third Pass Analysis Second and Third Pass Analysis: Transportation and Warehousing The following industries were classified as stars or opportunities based on the EMS data, and/or included in the top five sectors based on employment, and/or mentioned by the stakeholders/employers in interviews. ndustry NACS EMS Star or Opportunity Top 5 (based on # of employees) Stakeholder nput nclude? Reason/Comments General Warehousing and Storage Star Yes General Freight Trucking, Local Opportunity Yes A large employer is already located in the region; RC is a suitable location for other DC s, perhaps in different sectors With a trucking school outside of the region, there is an opportunity to replenish the diminishing workforce in this industry. Suitable location for transportation. Couriers and Express Delivery Services Used Household and Office Goods Moving Opportunity No No Not a industry that should be recruited. Usually will follow population or businesses; things like FedEx or UPS Driven by population and economy, not driving it Other Airport Operations No Driven by population and economy, not driving it Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date

113 Section 4.4: Target ndustry Recommendations-Second & Third Pass Analysis Second and Third Pass Analysis: nformation The following industries were classified as stars or opportunities based on the EMS data, and/or included in the top five sectors based on employment, and/or mentioned by the stakeholders/employers in interviews. ndustry Motion Picture Theaters (except Drive-ns) NACS EMS Star or Opportunity Top 5 (based on # of employees) Stakeholder nput nclude? Reason/Comments Star No f there is a market need these will expand and should welcome with open arms, these are more consumer based/retail industries, not necessarily what should focus on recruiting. Radio Stations Opportunity No Newspaper Publishers No Book Publishers Opportunity No These industries need a specific workforce, that may not be available in ndian River County. There is insufficient data on the Periodical Publishers No location quotients for these careers. Software Publishers No Wired Telecommunications Carriers Opportunity No Availability of software developers and computer programmers is low, well below U.S. average. This industry tends to follow the population. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date

114 Section 4.4: Target ndustry Recommendations-Second & Third Pass Analysis Second and Third Pass Analysis: Finance and nsurance The following industries were classified as stars or opportunities based on the EMS data, and/or included in the top five sectors based on employment, and/or mentioned by the stakeholders/employers in interviews. ndustry NACS EMS Star or Opportunity Top 5 (based on # of employees) Stakeholder nput nclude? Reason/Comments Securities Brokerage Star No nsurance Agencies and Brokerages Star No Direct Title nsurance Carriers Opportunity No We are assuming the growth from these comes from the wealthy people in the county. These tend to follow the economy, rather than drive it All Other Nondepository Credit ntermediation Opportunity No Not a significant location quotient in for occupations relevant to this industry. Third Party Administration of nsurance and Pension Funds Opportunity No Commercial Banking No Credit Unions No Driven by industry and economy, doesn t drive it. Consumer driven. More of a retail operation than industry Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date

115 Section 4.4: Target ndustry Recommendations-Second & Third Pass Analysis Second and Third Pass Analysis: Professional, Scientific and Technical Services The following industries were classified as stars or opportunities based on the EMS data, and/or included in the top five sectors based on employment, and/or mentioned by the stakeholders/employers in interviews. ndustry NACS EMS Star or Opportunity Top 5 (based on # of employees) Stakeholder nput Tax Preparation Services Star No Offices of Lawyers No Other Accounting Services No Administrative Management and General Management Consulting Services nclude? Star No These are potentially consumer driven. f they are business driven, then they tend to follow business. Veterinary Services No Consumer driven; follows the population and economy, doesn t nterior Design Services Star No drive it. Other Services Related to Advertising Star No Marketing Consulting Services Opportunity No Surveying and Mapping (except Geophysical) Services Star No Computer Systems Design Services Opportunity Yes Welcome, but don t pursue Usually construction or property driven. Follower not a driver. Lockheed is already in Melbourne, so there is opportunity Environmental Consulting Services Opportunity Yes These types of industries were Other Scientific and Technical Consulting mentioned by stakeholders (i.e Opportunity Yes Services Green, clean type industries Engineering Services No Did not show up as a star or opportunity on EMS Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date

116 Section 4.4: Target ndustry Recommendations-Second & Third Pass Analysis Second and Third Pass Analysis: Health Care and Social Assistance The following industries were classified as stars or opportunities based on the EMS data, and/or included in the top five sectors based on employment, and/or mentioned by the stakeholders/employers in interviews. ndustry NACS EMS Star or Opportunity Top 5 (based on # of employees) Stakeholder nput nclude? Reason/Comments Offices of Physicians (except Mental Health Specialists) Star No Offices of Dentists Star No Offices of Physical, Occupational and Speech Therapists, and Audiologists Star No Offices of Podiatrists Star No Kidney Dialysis Centers Star No Freestanding Ambulatory Surgical and Emergency Centers Star No Diagnostic maging Centers Star No Tend to follow economy, not lead Maintain existing physicians, dentists, etc. Try to attract additional specialized clinics. Home Health Care Services Star No General Medical and Surgical Hospitals Psychiatric and Substance Abuse Hospitals Specialty (except Psychiatric and Substance Abuse) Hospitals Star No Star No Star No Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date

117 Section 4.4: Target ndustry Recommendations-Second & Third Pass Analysis Second and Third Pass Analysis: Health Care and Social Assistance cont. The following industries were classified as stars or opportunities based on the EMS data, and/or included in the top five sectors based on employment, and/or mentioned by the stakeholders/employers in interviews. ndustry NACS EMS Star or Opportunity Top 5 (based on # of employees) Stakeholder nput nclude? Reason/Comments Continuing Care Retirement Communities Assisted Living Facilities for the Elderly Star No Star No Child and Youth Services Star No Other ndividual and Family Services Star No Vocational Rehabilitation Services Star No Child Day Care Services Star No Tend to follow economy, not lead Maintain existing physicians, dentists, etc. Try to attract additional specialized clinics. Offices of All Other Miscellaneous Health Practitioners Nursing Care Facilities (Skilled Nursing Facilities) Opportunity No No Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date

118 4.5 Target ndustry Recommendations Summary Following are the five target industries that we believe should focus its marketing and recruitment efforts on. The industries are organized by priority and within these industries the subsectors are also organized by priority. 1. Manufacturing a. Ammunition and Related There has already been inbound interest from these types of companies to locate in the county in the recent past and it fits well with the local business climate. We recommend expanding beyond just ammunition to also include small arms. Ammunition (except Small Arms) Manufacturing-NACS Professional, Scientific and Technical Services a. Environmental Consulting Services - These types of industries were mentioned quite a few times during our primary research with stakeholders (e.g. clean industries; ecologically-focused industries) and also rose to the top in the desk research. As companies become more green, this could drive demand for these types of services, and it s a good fit with the culture of. Environmental Consulting Services-NACS Other Scientific and Technical Consulting Services-NACS b. Computer Systems Design Services: This could be a secondary industry that should be aware of as Lockheed is already in Melbourne, so the opportunity is there, just need to take advantage of it. This could be a good fit for the county and in the past five years, this subsector has experienced extremely high growth. Computer Systems Design Services-NACS Transportation and Warehousing a. Warehousing- The west side of the county offers a location from which companies looking to distribute products to south Florida can be located. is already getting leads in this industry. Build off of CVS Pharmacy s success. General Warehousing and Storage-NACS b. Trucking- There is an opportunity for trucking, as people in this industry continue to retire. With a trucking school just outside the region, as well as a training program at ndian River State College, there are opportunities for companies to employ residents in this field. General Freight Trucking, Local-NACS Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date

119 4.5 Target ndustry Recommendations Summary (continued) Continued 4. Agriculture a. Aquaculture- This subsector was mentioned multiple times during the primary research. has already seen emergence in this industry, and while its size is still small, it may help offset the decline in the citrus industry. Animal Production & Aquaculture-NACS b. Farming and Crop Services- This subsector is currently serving the citrus industry. f these companies can move beyond citrus and adapt to serving other industries, this could be an opportunity. Farm Management Solutions-NACS Health Care a. Specialized clinics- Subsectors within the healthcare industry tend to follow the economy rather than drive it. However, ndian River County has an opportunity to attract specialized clinics which would bring new wealth into the county and improve the quality of life within the region. Note that there is not a specific NACS code for specialized clinics, as it can fall into many different subsectors. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date

120 4.5 Target ndustry Recommendations Summary (continued) The recommended target industries are plotted on a bubble chart on the following page at the 6-digit NACS code level in order to see the growth, concentration and size of each of the target industries. All of the recommended target industries were identified as stars or opportunities using the EMS data. These industries also had high growth and/or high location quotients (LQs) and/or were mentioned in the qualitative research. Note that there are two industries that do not appear on the bubble chart for the following reasons: Ammunition and Related: This industry has insufficient data on 5-year growth, so it cannot be plotted. However, this industry has an extremely high location quotient of 8.69 (anything above 1.20 is considered strong). Specialized Clinics: This industry does not have a specific NACS code, therefore there is no EMS data for the growth, size or location. This unique industry already exists in. According to the 2-digit level NACS code analysis, the Health Care and Social Assistance industry is growing in and while this industry tends to follow the economy and the population, has the ability to support these specialized clinics. Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date

121 Section 4.5 Recommended Target ndustries MANSTAYS Specific ndustry Concentration (LQ) Graph 4.5.A: Recommended Target ndustry Analysis for STARS l Recommended Target ndustries 1 Environmental Consulting Services (NACS ) 2 Computer Systems Design Services (NACS ) 3 General Warehousing and Storage (NACS ) 4 General Freight Trucking, Local (NACS ) 5 Animal Production and Aquaculture (NACS ) 6 Farm Management Services (NACS ) 7 * Ammunition and Small Arms Manufacturing: not included due to insufficient 5-year growth data 8 ** Specialized Clinics: not included because industry does not have one specific NACS code Specific ndustry Growth 3 (2010 to 2014) % % 5 85% 135% 185% 2 REACTVE OPPORTUNTES (3.50) t 0 Circle Size = Number of employees in Source: Economic Modeling Systems nc. (EMS) Ady Advantage = 50 employees Target ndustry Analysis, Phase Client 1 Name Appendix - Presentation to ndian Title River Presentation County Economic Date