Industry Cluster Analysis South Central Mountains Region, New Mexico REGIONAL SNAPSHOT.

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Presentation transcript:

Industry Cluster Analysis South Central Mountains Region, New Mexico REGIONAL SNAPSHOT

Overview Table of contents Industry Cluster Analysis

01 overview ​ South Central Mountains Region, NM

4 Overview section 01 South Central Mountains Region The South Central Mountains Region is comprised of two New Mexico counties and one reservation in southern New Mexico. U.S. Highway 54 passes through the middle part of the region connecting to I-10 to the south and I-40 to the north.  Lincoln  Otero  Mescalero Apache Nation

02 Industry cluster analysis South Central Mountains Region, NM

6 How to interpret cluster data results The graph’s four quadrants tell a different story for each cluster. Industry cluster analysis section 02 ​ Modified from: Emerging Bottom right (weak but advancing) Stars Top right (strong and advancing) Mature Top left (strong but declining) Transforming Bottom left (weak and declining) Contains clusters that are more concentrated in the region and are growing. These clusters are strengths that help a region stand out from the competition. Small, high-growth clusters can be expected to become more dominant over time. Contains clusters that are more concentrated in the region but are declining (negative growth). These clusters typically fall into the lower quadrant as job losses cause a decline in concentration. Contains clusters that are under-represented in the region but are growing, often quickly. If growth trends continue, these clusters will eventually move into the top right quadrant. Clusters in this quadrant are considered emerging strengths for the region. Contains clusters that are under-represented in the region (low concentration) and are also losing jobs. Clusters in this region may indicate a gap in the workforce pipeline if local industries anticipate a future need. In general, clusters in this quadrant show a lack of competitiveness.

7 Industry and occupation ​ Note: Label includes cluster name, LQ 2014, and Employment 2014; NAICS 2012 definitions Industry cluster bubble chart section 02 ​ Source: EMSI Class of Worker (QCEW, non-QCEW, self-employed and extended proprietors). Mature Star Transforming Emerging Note: Glass & Ceramics cluster does not exist in the region (has only 3 jobs).

8 Mature Transforming Industry and occupation ​ Note: Label includes cluster name, LQ 2014, and Employment 2014; NAICS 2012 definition Manufacturing sub-cluster bubble chart section 02 ​ Source: EMSI Class of Worker (QCEW, non-QCEW, self-employed and extended proprietors). Star Emerging Note: Transportation Equipment Mfg., Machinery Mfg., Computer & Electronic Product Mfg., Primary Metal Mfg. and Fabricated Metal Mfg. subclusters have too few jobs.

9 Industry cluster analysis section 02 Percent Growth in Specialization Level of Specialization Mature Clusters Arts, Ent., Recreation And Visitor Industries (1.18; 1,911) Star Clusters Defense & Security (3.45; 5,772) Emerging Clusters Mining (0.97; 114) Agribusiness, Food Processing & Technology (0.96; 1,118) Electrical Equip., App., & Component Mfg. (0.96; 82) Biomedical/Biotechnical (Life Sciences) (0.8; 2,449) Printing & Publishing (0.34; 230) Education & Knowledge Creation (0.26; 235) Apparel and Textiles (0.26; 75) Chemicals (0.20; 93) Transforming Clusters Energy (Fossil & Renewable) (0.99; 2,104) Forest & Wood Products (0.69; 387) Information Technology & Telecom. (0.68; 1,055) Business & Financial Services (0.54; 2,868) Transportation & Logistics (0.53; 659) Advanced Materials (0.33; 391) Manufacturing Supercluster (0.10; 129) NOTE: The first number after each cluster represents its location quotient while the second number represents the number of total jobs (full and part time jobs by place of work) in that cluster in the region in The clusters are sorted in decreasing order by location quotient. Note: Transportation Equipment Mfg., Machinery Mfg., Computer & Electronic Product Mfg., Primary Metal Mfg. and Fabricated Metal Mfg. subclusters have too few jobs. Glass & Ceramics cluster does not exist in the region (has only 3 jobs).

10 Bubble chart interpretation Industry and occupation section 02 Mature Industries Only one industry cluster in the South Central Mountains Region is in the Maturing stage: Arts, Entertainment, Recreation And Visitor Industries. This cluster is relatively concentrated, but its growth is trending downward. It is worth noting, however, that the South Central Mountains Region may find it worthwhile to invest in efforts to shore up the concentration of this industry. Transforming Industries Transforming clusters capture the mix of industries that are experiencing relative decline and limited export capability. In the South Central Mountains Region, transforming clusters are Energy (Fossil And Renewable); Forest And Wood Products; Information Technology And Telecommunications; Business And Financial Services; Transportation And Logistics; Advanced Materials; and Manufacturing Supercluster. Any amount of growth in these industries would require relatively large investments. Star Industries Star industry clusters are highly concentrated, exporting and still experiencing growth in the region. The only highly concentrated of the Star industry clusters in the South Central Mountains Region is Defense And Security. Its location quotient is 3.45, indicating that the cluster is 3.5 times more concentrated in the region compared to the U.S. Emerging Industries Industry clusters that may be poised for future growth are classified as “Emerging.” There are eight emerging clusters in the South Central Mountains Region: Mining; Agribusiness, Food Processing And Technology; Electrical Equip., App., And Component Manufacturing; Biomedical/Biotechnical (Life Sciences); Printing And Publishing; Education And Knowledge Creation; Apparel And Textiles; and Chemicals.. ​ Source: EMSI Class of Worker (QCEW, non-QCEW, self-employed and extended proprietors).