Page 19 - Town of Newcomb Comprehensive Plan - 2010

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Table 1 – Local Employment
Industry Total Establishments Establishments w/ 1‐4
Employees
Construction 2 2
Retail trade 2 2
Finance & insurance 1 1
Health care and social
assistance 1 1
Arts, entertainment &
recreation 2 2
Accommodation & food 1 1
services
Other services (except 2 2
public administration)
Total 11 11
U.S. Census Bureau: County Business Patterns
While the number of business and employment opportunities in any community is relative to its

size, it is clear, given these figures, there are few such opportunities in Newcomb. However,
because economic development patterns do not necessarily mirror political boundaries, it is
important to examine employment from a broader perspective. For example, within an hour’s
drive from the Town, there are approximately 4,600 jobs according to the U.S. Census Bureau
and the U.S. Bureau of Labor Statistics. Approximately 80 percent of these jobs were filled by
individuals younger than 55 years of age, and 38 percent of positions pay over $3,400 monthly.

Another way of looking at these numbers is by their Location Quotients (LQs). Location

Quotients (LQs) are ratios that allow an area's distribution of employment by industry to be
compared to a reference area's employment distribution. The reference area can be the U.S., a
particular state, or a metropolitan area. Industries within a given area divide into two
categories – basic and non‐basic. Basic industries are those exporting from the region, whereas
non‐basic are either supporting basic industries or are underdeveloped industries within the
given area.

Figure 8, Regional Location Quotents, illustrates the LQs of 4,600 area jobs using New York

State as a reference area. If an LQ is equal to one (1), such as Educational Services, then the
industry has the same share of its area employment as it does in the reference area (i.e., New
York State). However, when an LQ is greater than one (1), it indicates an industry with a greater
share of the local area employment than is the case in the reference area (i.e., forestry, health
2
care and social assistance).

2
http://www.bls.gov

Town of Newcomb Comprehensive Plan
March 2010