The Kansas City Public Library

Target Missouri II: A Regional Approach to Economic Development. Kansas City Metro Region

Publication Date:
2000
Author(s):
Missouri Department of Economic Development
Description:
Six analysis tools are used to determine which industries should be chosen for targeting in the Kansas City Metro Region. This analysis does not include Kansas City proper, which will be studied in the next edition of the TM2 series. 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 type, 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.
Topic(s):
Business, Economic development, Business and Economics
State(s):
Missouri
County/Area:
Kansas City Metropolitan Area; Cass county (MO); Clay county (MO); Jackson county (MO); Platte county (MO); Ray county (MO); Clinton county (MO); Lafayette county (MO)
City/Town:
Kansas City, MO
Peer Review:
No
Document Type:
Report
Language:
English
Source:
MERIC website
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