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CABARRUS <br />ECONOMIC DEVELOPMENT <br />Finance and Insurance — NAICS 52 <br />10 <br />9 <br />8 <br />7 <br />6 <br />5 <br />4 <br />3 <br />Finance and Insurance <br />% of Total Employment by County 4Q10 <br />12 <br />1 <br />0 <br />�G �A ���� ���� J �,A J �,A ���A ��,A J �,A J �,A ,A ,A J � -,A <br />0 0 0 0 0 0 0 0 0 0 0 0 <br />G G G G G G G G G G G G <br />a0t � t J 5 pa c a � � <br />P Ga � a t Ga Ga s \t 0 <br />G � <br />borrowers and transform or repackage the funds with respect to mat <br />known as financial intermediation. <br />38 <br />The Finance and Insurance sector <br />comprises establishments primarily <br />engaged in financial transactions <br />(transactions involving the <br />creation, liquidation, or change in <br />ownership of financial assets) <br />and /or in facilitating financial <br />transactions. Three principal types <br />of activities are identified: <br />1. Raising funds by taking deposits <br />and /or issuing securities and, in <br />the process, incurring liabilities. <br />Establishments engaged in this <br />activity use raised funds to acquire <br />financial assets by making loans <br />and /or purchasing securities. <br />Putting themselves at risk, they <br />channel funds from lenders to <br />irity, scale, and risk. This activity is <br />2. Pooling of risk by underwriting insurance and annuities. Establishments engaged in this activity collect <br />fees, insurance premiums, or annuity considerations; build up reserves; invest those reserves; and make <br />contractual payments. Fees are based on the expected incidence of the insured risk and the expected <br />return on investment. <br />3. Providing specialized services facilitating or supporting financial intermediation, insurance, and <br />employee benefit programs. <br />In addition, monetary authorities charged with monetary control are included in this sector. The <br />subsectors, industry groups, and industries within the NAICS Finance and Insurance sector are defined <br />on the basis of their unique production processes. As with all industries, the production processes are <br />distinguished by their use of specialized human resources and specialized physical capital. <br />Finance and Insurance <br />Total Emp in Cabarrus, NC <br />1200 <br />1000 <br />800 <br />600 <br />400 <br />200 <br />� :in= <br />401998 402002 4Q2006 4Q2010 <br />Finance and Insurance <br />% of Total Emp in Cabarrus, NC <br />2.5000 <br />1.9860 <br />2.0000 <br />1.5000 1.4194 1.3878 1.3980 <br />1.0000 <br />0.5000 <br />0.0000 <br />401998 4Q2002 4Q2006 4Q2010 <br />Cabarrus Economic Development 3003 Dale Earnhardt Boulevard, Kannapolis, NC 28083 USA <br />704.782.4000 1 CabarrusEDC.com I Face Book.com /CabarrusEDC I Twitter.com /CabarrusEDC <br />INTERNATIONALECONOA C <br />//�������. // /O /O:�P'.M[�J-/1�E����Ny�T��CC��OOUUUNCIL <br />Altaai .0 bYdW ryAO¢rtiw� <br />1 -1 Page 484 <br />