Six analysis tools are used to determine which industries should be chosen for targeting in the West Central Region. The first two tools, Specialization Ratios (SR) and the Regional Shift (RS) component of Shift-Share Analysis (SSA), help to determine which industries might have a competitive advantage in a region. The third and most important tool, the Economic Impact (EI) analysis, helps to identify which industries will most benefit the region should they expand. The Skills-Mismatch Index (SMI) determines whether the skills of the available workforce in a region match the needed skills for a particular industry. The Industrial Mix (IM) component of SSA helps to identify emerging industries. Finally, the Current Employment (CE) level of a regional industry helps to determine whether needed infrastructure is in place to attract particular industries and is an important factor when considering SRs.

Industries are awarded points on a scale of 0 to 100 based on whether they meet necessary criteria in these six categories. Those industries that score the highest are recommended for targeting. The table on the following page displays the categories and the point value an industry receives if it performs well in a specific category. If an industry does not meet the condition for that category, no points are awarded. An industry that scores well in each of the categories receives a score of 100 points, while those industries that perform poorly receive 0 points. Industries that score 50 or more points are those recommended for targeting.

Five industries in the region scored a perfect score of 100 points: Motor Vehicles & Equipment (SIC 317), Concrete, Gypsum, & Plaster Products (SIC 327), Fabricated Structural Metal Products (SIC 344), Metal Forgings & Stampings (SIC 346), and Industrial Machinery (SIC 359).

Nineteen industries scored 80 points or higher on the targeting scale, a relatively large number of industries compared to other Missouri regions. Of these nineteen, four are part of the Advanced Manufacturing cluster and three are part of the Life Sciences cluster, both of which are important in the "New Economy."

Another thirty industries scored between 55 and 75 points on the target scale, suggesting the West Central Region is ripe for potential development in these industries. Included among these are several Advanced Manufacturing and Life Science firms, as well the Communications industry (SIC 48), which is important to the Information Technology cluster.

An additional 49 industries scored 50 points on the target scale, suggesting these industries are good matches for the West Central Region. This comparatively large list includes all remaining identified Advanced Manufacturing. The large number of target industries scoring exactly 50 points suggests that the region’s workforce has the education needed for these industries, but they may need specific training to sharpen required skills. Further, scores of 50 suggest that the infrastructure needed to support these industries needs further development.

TM2 has provided a list of 95 industries that have the best potential for economic development in the West Central Region. The original Target Missouri provided a list of only 30 target industries for this region. Of these, 25 appear on both lists, so in this case, the two studies have obtained similar results. The expanded list generated by TM2 provides a list of industries that better fits the specifics of the West Central Region, as well as providing rankings that shed some light on the relative importance of certain industries.

Map 1 shows the approximate locations of only those industries scoring at least 80 points on the target scale, which are industries that are already drivers of the West Central economy. Note that St. Clair and Hickory Counties have very few of these industries, and that in general, few firms are located far from the larger cities in this region.