AG 2011 04 18 - Laserfiche WebLink

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The top three sectors in competitive share were Leisure and Hospitality, Public Administration, and the Professional and Business Services sector. Across all sectors, the competitive share component totals to -23 jobs. This indicates that Cabarrus County is not competitive in securing additional employment. A positive competitive share component would indicate that Cabarrus has a productive advantage. This advantage could be due to local firms having superior technology, management, or market access, or the local labor force having higher productivity and /or lower wages. A negative competitive share component could be caused by local shortcomings in all these areas. By examining the competitive share components for each industry, the developers can easily identify which local industries have a positive competitive share component. This also indicates which industries have competitive advantages over other counties and regions. Local officials can then devise strategies to improve local conditions faced by particular industries selected for focus. These strategies may include specialized training programs for workers and management, improved access to input and product markets through transportation and telecommunications, or arranged financial alternatives for new machinery and equipment. conditions facing this economic sector. For the Education and Health Services sector, the competitive share translated into 2 jobs (i.e., 0 percent times the base employment level of 14,503 equals 2 jobs).