Six analysis tools are used to determine which industries should be chosen for targeting in The southwest 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 benefit the region most 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.
| Category | Point Value |
|---|---|
| Condition 1: High Economic Impact | 40 |
| Condition 2: High Specialization Ratio | 20 |
| Condition 3: Strong Regional Shift | 20 |
| Condition 4: Low Skills-Mismatch | 10 |
| Condition 5: Positive Industrial Mix & Regional Shift | 5 |
| Condition 6: High Current Employment | 5 |
| Total Points: | 100 |
The tables that follow present those industries with scores of 50 or higher on the target scale for the southwest Region. Only one industry scored a perfect 100 points: Fabricated Structural Metal Products (SIC 344). However, eight others scored 95 points, including two Life Science industries: Dairy Products (SIC 202) and Grain Mill Products, Fats & Oils (SICs 204, 207). Eight more industries scored at least 80 points, including Motor Vehicles & Equipment (SIC 371). Together, these seventeen industries are already significant drivers of the southwest Region economy.
Another 24 industries scored between 55-75 points on the target scale, suggesting the southwest Regions is ripe for potential development in these industries. Included in this range are two Advanced Manufacturing industries: General Industrial Machinery (SIC 356) and Miscellaneous chemical products (SIC 289). The Computer and Data Processing Industry (SIC 737) is also included in this range.
An additional 60 industries scored 50 points on the target scale, suggesting these industries are good matches for the southwest Region. Of these, many are considered Advanced Manufacturing or Life Science industries, including Aerospace Manufacturing (SIC 376) and Drugs (SIC 283).
This analysis reveals the possibility for the development of many modern industries in the southwest Region. The presence of a few Life Science, Information Technology, and Advanced Manufacturing industries high on the target list is encouraging. The large number of advanced industries scoring 50 points suggests that the workforce may be a good match for these industries, but the infrastructure needed to support them needs development.
TM2 has provided a list of 101 industries that have the best potential for economic development in the southwest Region. The original Target Missouri provided a list of only 29 target industries for the southwest Region. Of these, only 20 appear on both lists, so in this case, the two studies have obtained somewhat different results. The expanded list generated by TM2 provides a list of industries that better fits the specifics of the southwest Region, as well as providing rankings that shed some light on the relative importance of certain industries.
Map 1 below shows the approximate current locations of those industries chosen for targeting in the southwest Region. In general, Manufacturing industries are clustered near Joplin, while Service and Construction firms are more evenly scattered across the region.
Map 1: southwest Target Industries
Map 2 further demonstrates the clustering effect around Joplin. Map 2 shows the locations of only those industries scoring at least 80 points on the target scale, or those industries that are already drivers of the southwest economy. Clearly, the southern portion of the region, particularly along the Interstate 44 corridor, is a key economic area.
Map 2: Locations of High-Scoring Industries
| Southwest Region Target Industries | ||
|---|---|---|
| SIC | Industry | Total Score |
| 241 | Logging | 50 |
| 251 | Household furniture | 55 |
| 254 | Partitions and fixtures | 70 |
| 252,253,259 | Office and misc. furniture and fixtures | 50 |
| 321-323 | Glass and glass products | 50 |
| 324 | Hydraulic cement | 50 |
| 325,326,328,329 | Stone, clay, and misc. mineral products | 70 |
| 327 | Concrete, gypsum, & plaster products | 95 |
| 331 | Blast furnaces and basic steel products | 90 |
| 332 | Iron and steel foundries | 90 |
| 333 | Primary nonferrous smelting & refining | 50 |
| 334,339 | All other primary metals | 50 |
| 335 | Nonferrous rolling and drawing | 90 |
| 336 | Nonferrous foundries | 55 |
| 341 | Metal cans and shipping containers | 70 |
| 342 | Cutlery, hand tools, and hardware | 50 |
| 343 | Plumbing and nonelectric heating equipment | 50 |
| 344 | Fabricated structural metal products | 100 |
| 345 | Screw machine products, bolts, rivets, etc. | 90 |
| 346 | Metal forgings and stampings | 55 |
| 347 | Metal coating, engraving, and allied services | 55 |
| 348 | Ordnance and ammunition | 50 |
| 349 | Miscellaneous fabricated metal products | 95 |
| 351 | Engines and turbines | 50 |
| 352 | Farm and garden machinery and equipment | 70 |
| 353 | Construction and related machinery | 50 |
| 355 | Special industry machinery | 50 |
| 356 | General industrial machinery and equipment | 75 |
| 357 | Computer and office equipment | 50 |
| 358 | Refrigeration and service industry machinery | 50 |
| 361 | Electric distribution equipment | 50 |
| 362 | Electrical industrial apparatus | 50 |
| 363 | Household appliances | 75 |
| 364 | Electric lighting and wiring equipment | 75 |
| 365 | Household audio and video equipment | 50 |
| 366 | Communications equipment | 50 |
| 367 | Electronic components and accessories | 50 |
| 369 | Miscellaneous electrical equipment | 75 |
| 371 | Motor vehicles and equipment | 80 |
| 372,376 | Aerospace | 50 |
| 373 | Ship and boat building and repairing | 50 |
| 374 | Railroad equipment | 50 |
| 375,379 | Miscellaneous transportation equipment | 50 |
| 381 | Search and navigation equipment | 50 |
| 382 | Measuring and controlling devices | 50 |
| 384 | Medical equipment, instruments and supplies | 50 |
| 385 | Ophthalmic goods | 50 |
| 386 | Photographic equipment and supplies | 50 |
| 387 | Watches, clocks, and parts | 50 |
| 394 | Toys and sporting goods | 60 |
| 201 | Meat products | 95 |
| 202 | Dairy products | 95 |
| 203 | Preserved fruits and vegetables | 90 |
| 204,207 | Grain mill products and fats and oils | 95 |
| 205 | Bakery products | 70 |
| 206 | Sugar and confectionery products | 50 |
| 208 | Beverages | 50 |
| 209 | Miscellaneous food and kindred products | 50 |
| 21 | Tobacco products | 50 |
| 221-224,226,228 | Weaving, finishing, yarn, and thread mills | 50 |
| 225 | Knitting mills | 50 |
| 227 | Carpets and rugs | 50 |
| 229 | Miscellaneous textile goods | 50 |
| 261-263 | Pulp, paper, and paperboard mills | 50 |
| 265 | Paperboard containers and boxes | 50 |
| 267 | Converted paper products except containers | 50 |
| 272 | Periodicals | 50 |
| 273 | Books | 50 |
| 281,286 | Industrial chemicals | 50 |
| 282 | Plastics materials and synthetics | 50 |
| 283 | Drugs | 50 |
| 284 | Soap, cleaners, and toilet goods | 50 |
| 285 | Paints and allied products | 50 |
| 287 | Agricultural chemicals | 50 |
| 289 | Miscellaneous chemical products | 70 |
| 291 | Petroleum refining | 50 |
| 295,299 | Miscellaneous petroleum and coal products | 95 |
| 301 | Tires and inner tubes | 50 |
| 302,305,306 | Rubber products and plastic hose and footwear | 50 |
| 308 | Miscellaneous plastics products, nec | 95 |
| 313,314 | Footwear, except rubber and plastic | 55 |
| 311,315-317,319 | Luggage, handbags, and leather products, nec | 50 |
| 10 | Metal mining | 50 |
| 12 | Coal mining | 50 |
| 14 | Nonmetallic minerals, except fuels | 50 |
| 15-17 | Construction | 50 |
| 40 | Railroad | 70 |
| 42 | Trucking | 95 |
| 45 | Air Transportation | 75 |
| 44 | Water transportation | 50 |
| 46 | Pipelines, except natural gas | 50 |
| 473,474,478 | Miscellaneous transportation services | 50 |
| 491,%493 | Electric utilities | 85 |
| 492,%493 | Gas utilities | 80 |
| 494-497,%493 | Water and sanitation | 65 |
| 751 | Automotive rentals, without drivers | 50 |
| 735 | Miscellaneous equipment rental and leasing | 75 |
| 736 | Personnel supply services | 60 |
| 737 | Computer and data processing services | 70 |
| 801-804 | Offices of health practitioners | 70 |
| 07 | Agricultural services | 60 |
| Life Science Industries | ||
| Information and Communications Technologies | ||
| Advanced Manufacturing Industries | ||