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Target Missouri II:

The West Central Region


Executive Summary

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.

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 West Central Region. In general, this region has an exceptionally large number of high-scoring industries, suggesting that the West Central Region has a highly diversified economy. This diversification is likely a main factor in the region’s relative economic success over the past five years (see MERIC’s Economic Momentum series).

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.

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. Each county is well-populated with these types of firms, particularly those in the Service industries.

Map 2: Current Locations of Potential Target Industries

 

West Central Region Target Industries

SIC

Industry

Total Score

242

Sawmills and planing mills

50

244,249

Wood containers and misc. wood products

50

252,253,259

Office and misc. furniture and fixtures

70

321-323

Glass and glass products

90

324

Hydraulic cement

70

325,326,328,329

Stone, clay, and misc. mineral products

50

327

Concrete, gypsum, & plaster products

100

331

Blast furnaces and basic steel products

70

333

Primary nonferrous smelting & refining

50

334,339

All other primary metals

70

335

Nonferrous rolling and drawing

70

341

Metal cans and shipping containers

50

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.

50

346

Metal forgings and stampings

100

347

Metal coating, engraving, and allied services

55

348

Ordnance and ammunition

90

349

Miscellaneous fabricated metal products

90

351

Engines and turbines

50

352

Farm and garden machinery and equipment

90

353

Construction and related machinery

55

355

Special industry machinery

55

356

General industrial machinery and equipment

95

357

Computer and office equipment

50

358

Refrigeration and service industry machinery

50

359

Industrial machinery, nec

100

361

Electric distribution equipment

50

362

Electrical industrial apparatus

70

363

Household appliances

95

364

Electric lighting and wiring equipment

50

365

Household audio and video equipment

50

366

Communications equipment

55

367

Electronic components and accessories

50

369

Miscellaneous electrical equipment

75

371

Motor vehicles and equipment

100

372,376

Aerospace

50

373

Ship and boat building and repairing

95

374

Railroad equipment

50

375,379

Miscellaneous transportation equipment

50

381

Search and navigation equipment

50

382

Measuring and controlling devices

70

384

Medical equipment, instruments and supplies

70

385

Ophthalmic goods

50

386

Photographic equipment and supplies

50

387

Watches, clocks, and parts

50

201

Meat products

95

202

Dairy products

90

203

Preserved fruits and vegetables

95

204,207

Grain mill products and fats and oils

90

205

Bakery products

70

206

Sugar and confectionery products

50

208

Beverages

50

209

Miscellaneous food and kindred products

50

21

Tobacco products

50

261-263

Pulp, paper, and paperboard mills

50

265

Paperboard containers and boxes

50

267

Converted paper products except containers

50

271

Newspapers

55

273

Books

50

274

Miscellaneous publishing

90

281,286

Industrial chemicals

50

282

Plastics materials and synthetics

50

283

Drugs

50

284

Soap, cleaners, and toilet goods

90

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

308

Miscellaneous plastics products, nec

70

10

Metal mining

50

12

Coal mining

50

14

Nonmetallic minerals, except fuels

90

15-17

Construction

50

40

Railroad

70

42

Trucking

75

41

Local&Interurban

60

45

Air Transportation

55

44

Water transportation

50

46

Pipelines, except natural gas

50

472

Passenger transportation arrangement

50

473,474,478

Miscellaneous transportation services

50

48

Communications

70

491,%493

Electric utilities

65

494-497,%493

Water and sanitation

65

723,724

Beauty and barber shops

55

726

Funeral service and crematories

60

762

Electrical repair shops

50

769

Miscellaneous repair services

55

735

Miscellaneous equipment rental and leasing

50

801-804

Offices of health practitioners

50

833

Job training and related services

60

836

Residential care

60

86

Membership organizations

60

07

Agricultural services

60

Life Science Industries
Information and Communications Technologies
Advanced Manufacturing Industries