Emerging Industries

Primary sectors that have experienced job growth or are signaling the high potential for growth in the Verde Valley are healthcare, micro-electronic and advanced manufacturing, food and accommodation services, and retail trade and wholesale trade.   Professional, technical, and scientific occupations across all sectors have also experienced a steady growth over the past 5 years exhibiting a 21% growth rate in related occupations.

Agriculture and tourism have been boosted by the expanding wine sector in the region. A variety of local owned vineyards and tasting rooms have opened over the past decade, creating a unique entrepreneurial environment in the area.

Job Summary for Regional Industries
21,766 8.9% $37,755
Jobs (2015) % Change (2010-2015) Avg. Earnings Per Job (2015)
0% above National average Nation: 8.1% Nation: $59,897

Job Count and Wage Correlation

Group 2015 Jobs 2016 Jobs Earnings Per Worker
Accommodation and Food Services 3,577 3,642 $21,502
Retail Trade 3,267 3,313 $30,204
Health Care and Social Assistance 2,779 2,901 $46,761
Construction 1,541 1,450 $35,212
Other Services (except Public Administration) 1,323 1,345 $21,770
Manufacturing 1,090 1,122 $53,178
Administrative and Support and Waste Management and Remediation Services 912 882 $27,153
Professional, Scientific, and Technical Services 850 867 $41,557
Real Estate and Rental and Leasing 556 545 $33,844
Transportation and Warehousing 495 488 $47,273
Educational Services 435 445 $32,551
Arts, Entertainment, and Recreation 435 438 $18,408

 Fastest Growing Industries

Wine industry.

Most Competitive Industries

Analysis of the most competitive industries and our local industry location quotients prioritizes the sectors in which the region has a competitive advantage based on the unique qualities of the region and what sectors are emerging signaling a demand for job growth.   Industry Mix Effect measures how much growth was derived from growth in the industry sector over all. The National Growth Effect measures how much growth was derived from overall growth in the national economy. The Competitive Effect for the region identifies if local factors assisted in the growth for that industry sector.

The Verde Valley region displays a competitive effect for manufacturing, retail and wholesale trade, healthcare, information systems, food and accommodation, and crop and animal production.

Group Job Change Ind Mix Effect Nat Growth Effect Expected Change Competitive Effect
Manufacturing 32 -28 12 -16 49
Health Care and Social Assistance 122 58 30 88 34
Retail Trade 46 -18 36 18 28
Other Services (except Public Administration) 22 -2 14 12 9
Crop and Animal Production 4 -2 1 0 5
Information 2 -5 3 -2 4
Mining, Quarrying, and Oil and Gas Extraction 6 2 1 2 3
Wholesale Trade 5 -1 4 3 2
Accommodation and Food Services 65 25 39 64 2

Industry Location Quotients

The location quotient gauges how much productivity is occurring in a region per industry sector compared to all regions nationally. Location Quotients (LQs) are ratios that allow an area’s distribution of employment by industry to be compared to a reference or base area’s distribution (in the case the U.S. as a whole). If an LQ is equal to 1, then the industry has the same share of its area employment as it does in the reference area. An LQ greater than 1 indicates an industry with a greater share of the local area employment than is the case in the reference area. A LQ greater than 1 states that the region is producing more in that sector then other regions.

2007_07272012Winter0044