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Lower East central - Cape Region Study
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Springfield Region Study



Target Missouri II:

The South Central Region


Executive Summary

Six analysis tools are used to determine which industries should be chosen for targeting in The South 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 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 South Central Region. In general, this region had relatively few high-scoring industries, but also an exceptionally large number of industries that scored at the low end of the suitable target range. This suggests that the South Central Region, with a little prodding, could become an important economic region for the state, despite its current struggles.

Three industries in the region scored a perfect score of 100 points: Concrete Mfg. (SIC 327), Construction Machinery Mfg. (SIC 353), and Refrigeration Machinery (SIC 358).

Nine industries scored 80 points or higher on the targeting scale, a relatively small number of industries compared to those regions in the state currently experiencing superior economic growth. Of these nine, only Construction Machinery Mfg. (SIC 353) is considered among the state’s target industries of Advanced Manufacturing, Information Technology, or Life Sciences. These high scores indicate that these industries are already economic drivers for the South Central Region, but the low number and the lack of "new economy" industries indicate the region is in need of some diversification.

Another 22 industries scored between 55 and 75 points on the target scale, suggesting the South Central Region is ripe for potential development in these industries. Included among these are several Advanced Manufacturing firms and a few Life Science firms, such as Industrial Chemicals (SICs 281 & 286).

An additional 63 industries scored 50 points on the target scale, suggesting these industries are good matches for the South Central Region. This comparatively large list includes nearly all remaining identified Advanced Manufacturing and Life Science industries. However, no Information Technology firms achieved a score above the 50-point threshold. 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 South Central Region. The original Target Missouri provided a list of only 23 target industries for this region. Of these, only 15 appear on both lists, so in this case, the two studies have obtained significantly different results. The expanded list generated by TM2 provides a list of industries that better fits the specifics of the South 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 South Central economy. Note that most are located near highways, and few are outside the major transportation routes.

Map 1: Locations of High-Scoring Industries



Map 2 shows the approximate location of those industries scoring at least 55 points on the target scale, those industries with high potential for development. Note that many of these are Durable Manufacturing firms, and almost all are located near transportation routes. The area near West Plains has a wide variety of potential targets, suggesting that needed infrastructure and a ready workforce could be easily developed in this vicinity.

Map 2: Current Locations of Potential Target Industries

 

South Central Region Target Industries

SIC

Industry

Total Score

241

Logging

95

242

Sawmills and planing mills

55

243

Millwork, plywood, and structural members

60

244,249

Wood containers and misc. wood products

55

251

Household furniture

95

254

Partitions and fixtures

50

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

50

327

Concrete, gypsum, & plaster products

100

331

Blast furnaces and basic steel products

50

332

Iron and steel foundries

50

333

Primary nonferrous smelting & refining

50

334,339

All other primary metals

50

335

Nonferrous rolling and drawing

50

336

Nonferrous foundries

50

341

Metal cans and shipping containers

50

342

Cutlery, hand tools, and hardware

50

343

Plumbing and nonelectric heating equipment

50

345

Screw machine products, bolts, rivets, etc.

50

346

Metal forgings and stampings

50

347

Metal coating, engraving, and allied services

50

348

Ordnance and ammunition

50

349

Miscellaneous fabricated metal products

50

351

Engines and turbines

50

352

Farm and garden machinery and equipment

50

353

Construction and related machinery

100

354

Metalworking machinery and equipment

55

355

Special industry machinery

75

356

General industrial machinery and equipment

50

357

Computer and office equipment

50

358

Refrigeration and service industry machinery

100

359

Industrial machinery, nec

75

361

Electric distribution equipment

50

362

Electrical industrial apparatus

75

363

Household appliances

50

364

Electric lighting and wiring equipment

70

365

Household audio and video equipment

50

366

Communications equipment

50

367

Electronic components and accessories

50

369

Miscellaneous electrical equipment

50

371

Motor vehicles and equipment

75

372,376

Aerospace

70

373

Ship and boat building and repairing

50

374

Railroad equipment

50

375,379

Miscellaneous transportation equipment

55

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

201

Meat products

50

202

Dairy products

75

203

Preserved fruits and vegetables

50

204,207

Grain mill products and fats and oils

75

205

Bakery products

50

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

231-238

Apparel

55

239

Miscellaneous fabricated textile products

55

281,286

Industrial chemicals

75

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

50

291

Petroleum refining

50

295,299

Miscellaneous petroleum and coal products

50

301

Tires and inner tubes

50

302,305,306

Rubber products and plastic hose and footwear

50

308

Miscellaneous plastics products, nec

70

14

Nonmetallic minerals, except fuels

65

15-17

Construction

50

40

Railroad

95

42

Trucking

95

45

Air Transportation

80

44

Water transportation

50

46

Pipelines, except natural gas

50

472

Passenger transportation arrangement

55

473,474,478

Miscellaneous transportation services

55

491,%493

Electric utilities

85

52-57,59

Rest of Retail

50

722,729

Personal services, nec

60

735

Miscellaneous equipment rental and leasing

50

833

Job training and related services

60

Life Science Industries
Information and Communications Technologies
Advanced Manufacturing Industries