Western CT COG CEDS Business & Industry Data Compilation Draft - - PowerPoint PPT Presentation

Western CT COG CEDS Business & Industry Data Compilation

Draft – For Discussion Connecticut Small Business Development Center September 29, 2016

Original Titles Original Page in HV CEDS Figure 98: Industry Segmentation 101 Figure 99: BSN MSA Clusters with Highest 2010 Employment from U S Cluster Mapping 103 Figure 100: Jobs Created by Cluster for the BSN MSA, 2000-2010Source: U S Cluster Mapping Project 104 Figure 101: Wages by Traded Cluster, BSN MSA 2010 105 Figure 102: Figure 4 6: Aerospace Vehicles and Defense Cluster – Share of National Employment by MSA, 2000-2010 106 Figure 103: Aircraft Subcluster, Share of National Employment by MSA, 2000-2010 107 Figure 104: Aircraft Subcluster, Employment by MSA, 2010 108 Figure 109: Financial Services Cluster, BSN MSA Employment by Subcluster, 2010 112 Figure 110: Financial Services Cluster: Securities Brokers, Dealers and Exchanges Subcluster, Employment, 2010 113 Figure 111: Business Services Cluster, BSN MSA Employment by Subcluster, 2010 113 Figure 112: Distribution Services Cluster, BSN MSA Employment by Subcluster, 2010 114 Figure 114: Medical Devices & Analytical Instruments Clusters (Life Sciences) 115 Figure 115: Medical Devices Cluster, BSN MSA Employment by Subcluster, 2010 116 Figure 116: Analytical Instruments Cluster, BSN MSA Employment by Subcluster, 2010 116 Figure 117: Processed Food Cluster, BSN MSA Employment by Subcluster, 2010 117 Figure 122: Hospitality and Tourism Cluster, Employment by Subcluster, 2010 122 Figure 123: Hospitality and Tourism Cluster, Wages by MSA, 2010 122 Figure 124: WCEDA Industry Analysis Summary Table 124

Last Western COG CEDS plan data exhibits

Context - National Trends Impact the Region’s Growth

“In a new report* by Harvard Business School, led by Professor Michael Porter, Problems Unsolved and a Nation Divided: State of US Competitiveness, the US economy currently faces grave concerns. And the path to a solution—namely tax reform, immigration reform, and infrastructure investment—is being hindered by the current political climate. Meanwhile, the annual growth rate of quarterly private investment in intellectual property, structures and equipment remains weak, falling below historical rates, according to the report. For 2010-2016, the average quarterly investment by business as a percent of GDP was lower than it has been since the 1980s, hurting productivity further. And all of this comes as GDP growth has remained tepid for a longer period than realized, on a downward trajectory since the 1960s with a significant step-down beginning around 2000.”

* Released September 15, 2016

Context – Connecticut Economic Performance

Source: CBIA

Connecticut’s recovery from the Great Recession has been slow and lags all but one of the

• ther New England states. Connecticut’s job recovery is 50% of the national average.

Connecticut narrowed the gap in GDP growth with New England in 2013 and 2014, but last year its GDP growth rate was less than 50% that of New England as a whole, and one quarter

• f the national rate.

Economic Performance Indicators: Fairfield County

Source: US Cluster Mapping Project

Fairfield County’s rate of GDP Per Capita growth ranked in the 4th quintile, but in absolute terms it was still in the top 10 nationally. Wage growth was relatively strong over the 1998 and 2014 period.

Comparative Prosperity Performance – Connecticut Counties

Source: US Cluster Mapping Project Fairfield County lagged Hartford, New London, and New Haven counties in growth in prosperity, and lagged Hartford County in GDP per capita.

Fairfield County’s Performance in the New York Economic Region, 1998-2014

Source: US Cluster Mapping Project

New York, NY Economic Area Sub-Regions Employment 1998 Employment 2014 Change Real Growth in Employment (CAGR) Annual Wages 2014 New York County, NY 1,951,646 2,188,523 236,877 0.72% $106,194.48 Kings County, NY 409,177 562,928 153,751 2.01% $38,761.26 Suffolk County, NY 487,168 562,520 75,352 0.90% $51,403.33 Nassau County, NY 532,641 545,065 12,424 0.14% $50,668.30 Queens County, NY 444,825 537,442 92,617 1.19% $45,284.94 Bergen County, NJ 446,352 439,344

• 7,008
• 0.10%

$60,451.13 Fairfield County, CT 424,846 408,854

• 15,992
• 0.24%

$77,934.84 Middlesex County, NJ 363,121 383,660 20,539 0.34% $60,934.57 Westchester County, NY 368,745 377,803 9,058 0.15% $65,071.60 New Haven County, CT 334,737 338,587 3,850 0.07% $49,068.34 Essex County, NJ 332,831 289,817

• 43,014
• 0.86%

$58,560.08 Morris County, NJ 280,256 286,394 6,138 0.14% $74,002.99

Fairfield County was one of three counties with negative growth in employment during the

• period. There was roughly a 1% growth differential, compounded annually, between

Manhattan and Fairfield County. But Brooklyn and Queens also saw significant growth.

Employer & Non-Employer Establishments, Fairfield County 2014

Source: US Census, County Business Patterns

Industry Number of establishments Paid employees for pay period including March 12 (number) First-quarter payroll ($1,000) Annual payroll ($1,000) Total for all sectors 27,022 408,854 9,245,720 31,863,974 Agriculture, forestry, fishing and hunting 15 98 1,191 5,426 Mining, quarrying, and oil and gas extraction 14 g D D Utilities 36 998 46,552 120,847 Construction 2,223 11,835 175,753 814,052 Manufacturing 825 33,195 640,736 2,406,690 Wholesale trade 1,354 24,089 688,986 2,411,679 Retail trade 3,420 50,234 388,452 1,637,517 Transportation and warehousing 471 8,912 139,025 550,362 Information 613 15,671 351,770 1,331,935 Finance and insurance 2,384 39,358 3,335,838 8,808,742 Real estate and rental and leasing 1,054 6,490 122,563 467,108 Professional, scientific, and technical services 3,435 35,959 961,504 3,814,626 Management of companies and enterprises 282 12,851 652,189 2,308,102 Administrative and support and waste management and remediation services 1,893 26,669 427,966 1,460,367 Educational services 494 13,808 132,704 546,274 Health care and social assistance 2,904 65,138 767,711 3,323,617 Arts, entertainment, and recreation 603 11,190 68,350 352,656 Accommodation and food services 2,379 33,241 166,404 727,777 Other services (except public administration) 2,569 17,903 139,531 596,844 Industries not classified 54 b 423 2,062

The predominant industries by employment are:

• Health care and social assistance
• Retail trade
• Finance and insurance
• Professional, scientific, and technical services
• Accommodation and food services

By number of establishments:

• Professional, scientific, and technical services
• Retail
• Health care and social assistance
• Other services
• Finance and insurance

By annual payroll:

• Finance and insurance
• Professional, scientific, and technical services
• Health care and social assistance
• Wholesale trade
• Manufacturing

Employees and Annual Payroll by Industry Fairfield County 2014

Source: US Census, County Business Patterns

Industry Annual payroll ($1,000) Number of employees Utilities 206,490 2,613 Manufacturing 2,338,215 35,507 Wholesale trade 1,622,430 18,611 Retail trade 1,553,885 49,401 Transportation and warehousing 521,520 10,284 Information 1,083,527 13,218 Finance and insurance 9,154,224 42,413 Real estate and rental and leasing 418,109 6,971 Professional, scientific, and technical services 3,975,886 40,694 Administrative and support and waste management and remediation services 1,562,220 34,040 Educational services 102,284 3,195 Health care and social assistance 3,291,827 63,963 Arts, entertainment, and recreation 374,008 10,543 Accommodation and food services 604,592 30,574 Other services (except public administration) 420,840 13,041

The industries with the most significant contributions to wealth in Fairfield County are:

• Finance and Insurance
• Professional, Scientific, and

Tech Services

• Health Care and Social

Assistance

• Manufacturing

Establishments by Size and Industry Fairfield County, 2014

Source: County Business Patterns

Industry All Establishments Establishments with 1 to 4 employees Establishments with 5 to 9 employees Establishments with 10 to 19 employees Establishments with 20 to 49 employees Establishments with 50 to 99 employees Establishments with 100 to 249 employees Establishments with 250 to 499 employees Establishments with 500 to 999 employees Establishments with 1,000 or more employees All 27,022 14,896 5,042 3,364 2,352 760 445 104 33 26 Agriculture 15 8 5 1 1

• Mining

14 8 4 1

• 1

Utilities 36 14 4 4 6 6 2

• Construction

2,223 1,617 319 159 101 21 6

• Manufacturing

825 335 160 118 117 41 36 12 3 3 Wholesale Trade 1,354 739 238 179 111 55 17 10 2 3 Retail Trade 3,420 1,598 798 477 339 109 88 10 1

• Transportation

471 222 85 59 62 25 14 3 1

• Information

613 343 62 75 67 35 19 6 6 Finance & Insurance 2,384 1,263 540 311 153 57 39 11 5 5 Real Estate and Rental & Leasing 1,054 770 175 75 25 7

• 1
• 1

Professional, Scientific, and Technical 3,435 2,398 485 271 175 59 34 9 2 2 Management fof Companies 282 98 44 40 33 32 23 10 2

• Administrative Support

1,893 1,238 287 144 126 51 32 8 6 1 Educational Services 494 264 69 69 45 24 19

• 1

3 Health Care & Social Assistance 2,904 1,218 657 508 322 88 84 17 3 7 Arts, Entertainment, & Recreation 603 322 72 73 75 42 13 6

• Accomodation & Food Services

2,379 869 448 508 457 81 16

• Other Services except Public Admin.

2,569 1,519 589 292 137 27 3 1 1

• Industries Not Classified

54 53 1

Business Ownership –Fairfield County, 2012

Source: US Census, Survey of Business Owners

Ownership Category Number of firms with or without paid employees Sales, receipts, or value

• f shipments of firms

with or without paid employees ($1,000) Number of firms with paid employees Percent Firms with Paid Employees Sales, receipts, or value of shipments of firms with paid employees ($1,000) Number of paid employees for pay period including March 12 Annual payroll ($1,000) Number of firms without paid employees Sales, receipts, or value of shipments of firms without paid employees ($1,000) White 89,412 57,177,416 17,600 20% 51,493,772 171,983 9,505,703 71,812 5,683,644 Black or African American 5,859 241,362 176 3% 111,534 759 20,088 5,684 129,828 American Indian and Alaska Native 429 16,398 15 3% 3,973 45 1,107 414 12,426 Asian 4,517 1,315,956 1,243 28% 1,100,597 7,134 202,787 3,274 215,359 Minority 21,309 2,701,085 2,222 10% 1,960,183 12,459 350,704 19,087 740,902 Equally minority/nonminority 673 251,795 155 23% 201,466 1,182 44,679 518 S Nonminority 81,744 56,108,929 16,901 21% 50,764,416 167,450 9,369,313 64,843 5,344,513 All firms classifiable by gender, ethnicity, race, and veteran status 103,726 59,061,810 19,277 19% 52,926,065 181,091 9,764,696 84,448 6,135,745 Publicly held and other firms not classifiable by gender, ethnicity, race, and veteran status 3,831 241,066,294 2,504 65% 240,847,495 252,469 22,435,101 1,327 218,800 Hispanic, All firms 10,624 1,109,953 744 7% 723,038 4,550 124,643 9,880 386,914 Female, All firms 34,959 5,320,475 3,514 10% 4,101,913 25,481 939,132 31,445 1,218,562

Top Industry Clusters, by Employment, Fairfield County -2014

Source: US Cluster Mapping Project

Fairfield County Strong Clusters with 2014 Employment

Source: US Cluster Mapping Project Cluster Rank Employment Financial Services 8 28,113 Aerospace Vehicles and Defense 10 9,320 Video Production and Distribution 15 924 Marketing Design and Publishing 18 12,050 Performing Arts 33 2,350 Education and Knowledge Creation 44 15,102 Medical Devices 49 1,138 A strong cluster is a cluster that has high employment specialization in a region (ranking in the top 25% of all regions by specialization and also meeting minimum criteria for employment and establishment). Specialization: Measured by the value of a cluster's location

• quotient. Each regional economy

has a particular pattern of specialization in a number of clusters, which drives productivity and growth in the economy. Source

• f Data: U.S. Census Bureau.

Business Services (29,177 employees), Distribution and Electronic Commerce (22,687), and Hospitality and Tourism (7,226) are clusters with large employment ranked within the top 100 regions, but are not considered strong clusters by the USCMP.

Employment Growth, Clusters, 1998-2014: Fairfield County

Source: US Cluster Mapping Project

Fairfield County had 10 Traded Clusters that added employment between 1998 and 2014, compared to 14 that added jobs nationally.

• The largest job gains were in Financial

Services and Education and Knowledge

• creation. Both clusters exceeded national

gains. Of those that lost jobs, 8 had significantly greater losses than the national rate of growth.

• Business Services had the greatest job loss.
• Distribution and Electronic Commerce and

Marketing, Design, and Publishing had significant losses, while nationally, these clusters experienced job gains over the time period.

Sub Cluster Analysis: Business Services

Source: US Cluster Mapping Project

Although the Business Services cluster lost jobs from 1998 to 2014, and lost ground relative to the share of national employment, sub clusters like Corporate Headquarters, Computer Services, and Consulting services were sizeable and important to the County’s economy. Based on national growth rates for this cluster, Business Services should have added 25,015 jobs from 1998 to 2014. Instead, it lost 15,533 jobs during the period.

Sub Cluster Analysis, Marketing, Design and Publishing

Source: US Cluster Mapping Project

Advertising related services was the bright spot in the Marketing, Design, and Publishing cluster, a relatively strong

• ne for Fairfield County.

Business Services Cluster Industries, Employment 2011-2014

Source: US Cluster Mapping Project

During the three years from 2011 to 2014, there has been a rebound in some Business Services subclusters, notably Consulting, Computer, and Engineering Services. Job creation rates met or exceeded the national growth rate in 3 out of 8 subclusters.

Financial Services Cluster, Employment 2014

Source: US Cluster Mapping Project

Four of five subclusters were considered strong and ranked high relative to national cluster standing.

Financial Services Industry, Employment 2011-14

Source: US Cluster Mapping Project Portfolio Management, which might be indicative of hedge funds, has expanded slightly over the three years period, in contrast with

• ther financial service

categories (not shown)

e Commerce Sub Cluster Employment &Establishments, 2011-14

Source: US Cluster Mapping Project

Bridgeport-Stamford-Norwalk MSA Job Creation by Establishment Activity 1998-2013

Source: US Census Business Dynamics Statistics

Year Firms Estabs Emp Estabs Entry Estabs Entry Rate Estabs Exit Estabs Exit Rate Job Creation Job Creation Births Job Creation Continuers Job Creation Rate Births Job Creation Rate 1998 21,854 24,717 424,787 2,759 11.2 2,535 10.3 69,843 25,338 44,505 6.0 16.5 1999 21,901 24,849 435,327 2,574 10.4 2,414 9.7 70,430 21,734 48,696 5.1 16.4 2000 21,931 24,965 441,829 2,616 10.5 2,524 10.1 67,578 21,584 45,994 4.9 15.4 2001 21,882 25,296 466,565 2,736 10.9 2,592 10.3 81,680 30,557 51,123 6.7 17.9 2002 21,614 24,898 466,159 2,798 11.2 3,142 12.5 84,153 32,505 51,648 7.0 18.2 2003 21,485 24,730 464,462 2,566 10.4 2,367 9.6 67,943 20,998 46,945 4.5 14.7 2004 21,547 24,958 458,150 2,702 10.9 2,237 9.0 61,307 19,051 42,256 4.1 13.3 2005 21,766 25,178 446,776 2,827 11.3 2,421 9.7 67,761 29,727 38,034 6.6 15.0 2006 21,870 25,406 456,183 2,742 10.9 2,340 9.3 65,034 21,818 43,216 4.9 14.5 2007 21,687 25,373 441,598 2,680 10.6 2,632 10.4 70,157 28,454 41,703 6.3 15.6 2008 21,532 25,314 459,700 2,510 9.9 2,379 9.4 82,733 26,417 56,316 5.9 18.5 2009 20,748 24,517 420,044 2,041 8.2 2,632 10.6 50,290 18,686 31,604 4.3 11.5 2010 20,319 24,049 405,079 2,045 8.4 2,370 9.8 42,314 14,364 27,950 3.5 10.3 2011 20,049 23,777 409,448 2,089 8.7 2,306 9.7 52,538 18,002 34,536 4.4 12.9 2012 20,234 23,997 428,424 2,361 9.9 2,213 9.3 67,106 18,562 48,544 4.4 16.0 2013 20,250 24,013 427,654 2,321 9.7 2,191 9.1 49,267 16,310 32,957 3.8 11.5

Net Job Creation – Connecticut

Source: US Census Business Dynamics Statistics

New Business Registrations (2011-2015)

Source: Connecticut Secretary of State

http://ctbusiness.ctdata.org/#/formations-over-time

2011 2012 2013 2014 2015 Growth 2011-2015

Bethel 110 148 138 124 113 3% Bridgewater 8 10 12 15 14 75% Brookfield 124 120 149 115 107

• 14%

Danbury 743 911 752 757 941 27% Darien 200 229 232 214 262 31% Greenwich 825 1,022 990 1,092 1,060 28% New Canaan 215 259 264 269 227 6% New Fairfield 64 69 75 67 52

• 19%

New Milford 179 183 172 181 164

• 8%

Newtown 180 179 198 177 158

• 12%

Norwalk 723 892 768 846 928 28% Redding 74 83 73 76 58

• 22%

Ridgefield 233 221 190 249 184

• 21%

Sherman 21 30 27 29 27 29% Stamford 1,256 1,412 1,439 1,466 1,580 26% Weston 107 122 112 110 91

• 15%

Westport 457 476 536 498 430

• 6%

Wilton 199 196 193 204 183

• 8%

Total 5,718 6,562 6,320 6,489 6,579 15%

Western CT COG Region

Connecticut Establishment Creation Performance, 1998-2014

Source: US Cluster Mapping Project

While the US created over 500,000 new establishments between 1998 and 2013, Connecticut saw a decrease of 3,864 establishments. According to the SBA, nationally, business starts have increased since the Great Recession, but the rate of starts is still below pre-recession levels.

Kauffman Foundation Entrepreneurial Indices

Entrepreneurial Index Measure CT Rank The Index of Entrepreneurship includes a ranking for Opportunity Share of New Entrepreneurs, a proxy indicator of the percent of starting businesses because they saw market opportunities. It measures the percentage of new entrepreneurs who were not unemployed before starting their businesses (e.g., have been previously working for another organization or studying in school) 75% of new entrepreneurs started their business not from unemployment 35th of 50 states The Main Street Entrepreneurship Index captures the Rate of Business Owners in the economy—the annual percentage of adults owning businesses, on average. It also captures Established Small Business Density, the ratio of established small employer businesses to the person population in the economy. The combination of these two distinct and important dimensions provides a view of small business activity in a given state. Established small businesses represent 63% of all employer firms in the US (US Census Bus. Dynamics) 6.34% of the adult population in Connecticut

• wns an

established small business 17th of 50 states The Index of Growth Entrepreneurship illustrates how states are performing across three areas covering business job and revenue growth: Rate of Start Up Growth Share of Scaleups High-Growth Company Density

• .82

45.51% 1.33% 48.8% 13th of 25 small states 20th 15th 8th

Startup Activity and Entrepreneurship by Age

Source: Kauffman Foundation The nation’s startup activity has been on a downward slope since the late 1990s, hitting a low in 2014. It appears Millennials are not a big factor in reversing this downward slide.

Entrepreneurship by Nativity (immigration) and Race

Source: Kauffman Foundation Immigrant entrepreneurs now account for 27.5 percent of all new entrepreneurs in the United States, up from 13.3% in the 1997 index. Since 2000, the rate of new entrepreneurs in the Latino community has outstripped other communities.

Entrepreneurship by Education

Source: Kauffman Foundation The Rate of New Entrepreneurs increased most among high school dropouts and those with some

• college. The Rate of New Entrepreneurs is highest among the least-educated group, but this

partially reflects a high level of “necessity entrepreneurship” for this group, arguably driven by more-limited labor market opportunities.

Occupations, Wages, Location Quotient:– B-S-N

Source: BLS May 2015 estimates

Occupations with highest mean annual salary

• Management
• Legal
• Computer and Mathematical
• Business and Financial Operations
• Healthcare Practitioners and Technicians

Occupations with lowest mean annual salary

• Food Preparation and Serving
• Personal Care
• Building Grounds Cleaning & Maintenance
• Healthcare Support

Occupations, Wages, Location Quotient:– B-S-N

Source: US Bureau of Labor Statistics May 2015 estimates

The location quotient is the ratio of the area concentration of occupational employment to the national average concentration. A location quotient greater than one indicates the occupation has a higher share of employment than average.

Occupation title Employ- ment Employ- ment RSE Employment per 1,000 jobs Location quotient Median hourly wage Mean hourly wage Annual mean wage Mean wage RSE All Occupations 417,260 0.9% 1000.000 1.00 $22.58 $30.10 $62,610 1.3% Management Occupations 34,560 2.2% 82.819 1.65 $62.34 $72.31 $150,400 1.5% Business and Financial Operations 30,000 3.8% 71.890 1.41 $36.84 $43.89 $91,280 2.4% Computer and Mathematical 13,400 4.7% 32.104 1.11 $42.29 $44.25 $92,040 1.5% Architecture and Engineering 5,440 12.6% 13.036 0.73 $39.31 $41.35 $86,010 2.1% Life, Physical, and Social Science 3,140 7.1% 7.523 0.91 $36.73 $40.23 $83,680 4.0% Community and Social Service 6,890 4.5% 16.516 1.15 $24.83 $26.89 $55,930 3.9% Legal Occupations 3,840 6.6% 9.202 1.19 $46.16 $64.00 $133,120 5.5% Education, Training, and Library 28,750 4.3% 68.910 1.11 $28.87 $30.48 $63,400 1.9% Arts, Design, Entertainment, Sports, and Media 8,090 7.0% 19.385 1.45 $26.96 $31.37 $65,260 5.2% Healthcare Practitioners and Tech. 22,430 5.5% 53.765 0.92 $35.71 $43.86 $91,220 3.2% Healthcare Support 11,660 5.9% 27.941 0.97 $15.47 $16.62 $34,570 2.5% Protective Service 9,700 3.5% 23.250 0.96 $20.39 $23.67 $49,230 6.3% Food Preparation & Serving Related 33,690 1.7% 80.739 0.89 $10.62 $12.92 $26,880 2.4% Building & Grounds Cleaning & Maint. 16,420 4.5% 39.349 1.23 $14.18 $16.45 $34,210 3.1% Personal Care and Service 15,280 5.4% 36.631 1.17 $12.78 $15.59 $32,420 3.4% Sales and Related 44,640 2.5% 106.985 1.02 $16.04 $25.89 $53,840 3.9% Office and Administrative Support 67,670 2.3% 162.173 1.02 $19.43 $21.09 $43,860 0.9% Farming, Fishing, and Forestry 240 43.9% 0.568 0.17 $15.63 $15.59 $32,420 7.8% Construction and Extraction 10,270 4.1% 24.611 0.62 $25.42 $25.76 $53,590 1.8% Installation, Maint. and Repair 11,620 5.1% 27.838 0.71 $23.87 $24.60 $51,170 2.2% Production Occupations 19,800 7.1% 47.447 0.72 $18.88 $20.55 $42,750 3.0% Transportation & Material Moving 19,740 3.6% 47.319 0.68 $15.21 $17.52 $36,450 1.9%

Notable occupations with Location Quotients greater than 1:

• Management 1.65
• Arts, Design, Entertainment, Sports, and Media 1.45
• Business and Financial Operations 1.41
• Building & Grounds Cleaning & Main. 1.23

Notable occupations with Location Quotients less than 1:

• Construction & Extraction .62
• Installation, Maintenance, and Repair .71
• Production .72
• Healthcare Practitioners and Technicians .92
• Life, Physical, and Social Science .91

Occupations, Wages, Location Quotient: Danbury Area May 2015

Source: US Bureau of Labor Statistics

Occupation title Employment Employment RSE Employment per 1,000 jobs Location quotient Median hourly wage Mean hourly wage Annual mean wage Mean wage RSE All Occupations 79,240 1.6% 1000.000 1.00 $19.13 $24.91 $51,820 2.0% Management 4,640 4.7% 58.508 1.16 $53.56 $61.16 $127,210 3.3% Business & Financial Operations 3,140 6.8% 39.667 0.78 $29.99 $34.21 $71,150 3.8% Computer and Mathematical 1,430 7.7% 18.081 0.62 $35.61 $38.33 $79,730 4.4% Architecture and Engineering 1,110 9.1% 14.040 0.78 $37.43 $38.69 $80,470 2.4% Life, Physical, and Social Science 420 17.6% 5.240 0.63 $33.31 $34.20 $71,140 4.0% Community and Social Service 1,370 13.0% 17.249 1.21 $25.46 $26.30 $54,690 5.3% Legal Occupations 430 10.2% 5.387 0.70 $34.13 $48.31 $100,480 7.5% Education, Training, and Library 5,790 6.6% 73.024 1.18 $25.65 $26.97 $56,090 3.5% Arts, Design, Entertain. Sports, & Media 1,010 11.3% 12.787 0.96 $20.44 $23.59 $49,070 4.3% Healthcare Practitioners & Tech. 4,860 6.2% 61.343 1.05 $38.34 $45.14 $93,880 5.9% Healthcare Support 2,150 9.0% 27.134 0.94 $14.85 $15.92 $33,110 2.7% Protective Service 1,100 4.0% 13.914 0.57 $25.75 $25.67 $53,390 5.4% Food Preparation & Serving 6,810 3.2% 85.999 0.94 $10.36 $11.99 $24,940 1.8% Building & Grounds Cleaning & Maint. 2,770 11.3% 35.008 1.10 $14.21 $15.63 $32,520 3.6% Personal Care & Service 3,340 7.3% 42.090 1.35 $11.73 $14.26 $29,660 4.6% Sales and Related 10,570 3.8% 133.335 1.27 $13.10 $19.20 $39,940 5.2% Office & Admin. Support 13,440 2.7% 169.609 1.07 $18.32 $19.44 $40,430 1.6% Farming, Fishing, & Forestry (8) (8) (8) (8) $9.37 $11.19 $23,280 9.9% Construction & Extraction 2,590 10.0% 32.746 0.82 $24.55 $25.37 $52,770 3.4% Installation, Maint., & Repair 3,110 8.6% 39.271 1.01 $23.41 $24.27 $50,480 2.1% Production Occupations 5,250 5.2% 66.281 1.01 $18.09 $19.78 $41,130 2.5%

• Transp. & Material Moving

3,810 8.6% 48.106 0.70 $15.54 $18.13 $37,720 4.1%

Occupations with LQ greater than 1:

• Personal Care & Service 1.35
• Sales and Related 1.27
• Community and Social Service 1.21
• Education, Training, and Library 1.18
• Management 1.16

Occupations with LQ less than 1:

• Protective Service .57
• Computer and Mathematical .62
• Life, Physical, and Social Science .63
• Legal Occupations .70
• Business & Financial Operations .78

Highest Annual Mean Wage:

• Management
• Legal
• Healthcare Practitioners
• Architecture and Engineering

Computer and Mathematical Occupations, B-S-N May 2015

Source: BLS

Occupation title Employ- ment Employment RSE Employment per 1,000 jobs Location quotient Annual mean wage Mean Wage RSE Computer and Mathematical Occupations 13,400 4.7% 32.104 1.11 $92,040 1.5% Computer Systems Analysts 1,680 28.1% 4.031 1.00 $94,880 3.9% Information Security Analysts 230 40.4% 0.552 0.86 $98,460 3.5% Computer Programmers 1,400 11.7% 3.349 1.60 $86,610 3.0% Software Developers, Applications 2,380 8.8% 5.696 1.05 $106,070 3.3% Software Developers, Systems Software 1,700 16.7% 4.081 1.44 $105,360 2.1% Web Developers 620 17.2% 1.491 1.62 $72,390 6.2% Database Administrators 420 14.7% 1.014 1.23 $82,110 2.8% Network and Computer Systems Administrators 1,270 14.2% 3.046 1.12 $97,260 1.9% Computer Network Architects 400 22.5% 0.960 0.90 $106,020 2.4% Computer User Support Specialists 1,790 9.3% 4.289 1.01 $56,310 1.9% Computer Network Support Specialists 380 18.9% 0.903 0.67 $87,480 4.6% Computer Occupations, All Other (8) (8) (8) (8) $106,190 10.1% Actuaries 200 31.4% 0.482 3.36 $110,580 6.6% Operations Research Analysts 400 12.1% 0.958 1.38 $97,710 4.7% Statisticians 100 10.6% 0.243 1.12 (8) (8)

The Bridgeport-Stamford –Norwalk region has a strong Computer and Mathematical occupations presence, consistent with anecdotal information about the demand for such

• ccupations. However, the current

labor force may be insufficient to meet growth requirements of existing businesses as well as new startups and relocations to the region.

Worksites by Size, Fairfield County – Q4 2014

Source: CT Dept. of Labor

Worksites by Size Class

Fourth Quarter - 2014 Fairfield County

Size Number of Worksites Employment Class Employees Number % of Total Number % of Total

1 0 - 4 21,433 63.8 32,612 8.6 2 5 - 9 5,187 15.4 34,243 9.0 3 10 - 19 3,401 10.1 46,077 12.1 4 20 - 49 2,294 6.8 69,146 18.2 5 50 - 99 750 2.2 51,398 13.5 6 100 - 249 420 1.2 64,699 17.0 7 250 - 499 85 0.3 29,006 7.6 8 500 - 999 36 0.1 24,431 6.4 9 1000 & over 14 0.0 28,853 7.6

Total 33,620 100.0 380,465 100.0

Data from DOL shows that 61.4% of Fairfield County employees, and 65.3% of Danbury area employees, worked at worksites employing less than 100 people in 2014. By comparison, 51.8% of employment in Hartford County, and 58.2% of employment in New Haven County,

• ccurred at worksites with less than 100

employees. Fairfield County had a significantly larger percent of employment at very small (less than 10 employee) worksites (17.6%), compared to Hartford (12.1%) and New Haven (14.8%) counties.

<100 = 61.4%

CTSBDC Clients Milestones Reached, Western CT COG Towns, January 1, 2013- August 26, 2016

Source: CTSBDC Database

Category Outcome Number of clients assisted 515 Number of jobs created 112 Number of Jobs retained 192 New Business Starts 28 Capital Raised (debt and equity) $14,065,500

CTSBDC Western COG Clients, 2013-16

Industry Number Service Establishment 51 Manufacturing 48 Retailer / Dealer 41 Technology/R&D 35 Food Services/Hotel/Entertainment 32 Professional Technical 29 Construction 25 Education 14 Wholesale Dealer 13 Distributors/Supply Chain 11 Real Estate 9 Information 9 Health Care 8 Transportation/Warehousing 6 Financing 3 Management 2

Small Business Challenges

Source: Federal Reserve Bank of New York Survey - 2014

Respondents to the 2014 Federal Reserve Bank survey identified their top overall challenges as followed:

• Difficulty attracting customers: 23%
• Lack of credit availability: 18%
• Uneven cash flow: 18%
• Increasing costs of running business: 13%
• Complying with government regulations: 8%

Small Business Challenges by Firm Age

Source: Federal Reserve Bank of New York Survey - 2014

Start-ups (less than 5 years in business)

• 1. Lack of credit availability
• 2. Difficulty attracting customers
• 3. Uneven cash flow

Growers (profitable and increased revenues)

• 1. Uneven cash flow
• 2. Lack of credit availability
• 3. Difficulty hiring and/or retaining employees

Mature (more than 5 years in business, 10+ employees, holds debt)

• 1. Uneven cash flow
• 2. Increased costs of running business
• 3. Lack of credit availability

Small Business and Entrepreneurial Resources

• Co-working/shared workspace
• Incubators
• Accelerators
• Tech/hackerspace
• University programs and connections
• Service organizations (CTSBDC, WBDC, SCORE, etc.)
• Agencies
• Public Libraries
• (Gap analysis – what’s missing/inadequate/underutilized?)

Business and Entrepreneurial Support Organizations -Examples

The Refinery Danbury Hackerspace Stamford Innovation Center Norwalk 2.0 Soundview Club SoNo Spaces Westport Innovation Hub Colodesk Comradity Western CT State University UConn Stamford Norwalk Community College WBDC SCORE Fairfield County CTSBDC

Sample Industry Market Research Data

The average company in the Breweries industry has shrunk in size, and more than 70.0% of beer companies now employ fewer than 10 workers. [Projections show] Craft beer sales to continue rising, at an annualized rate of 5.5% through 2020, which is more than twice the speed

• f overall Breweries industry revenue

The Food Trucks industry revenue is projected to reach $856.7 million in 2015, representing average annual growth

• f 9.3% since 2010.

The Pet Grooming and Boarding industry revenue is expected to reach $6.4 billion in 2015, representing average annual growth of 6.2%. Business Coaching industry revenue is expected to grow an annualized 6.8% from 2010 to 2015, reaching $11.8 billion. [Projections show] Physical Therapists industry revenue to grow at an average annual rate of 6.8% to $42.8 billion.

Sample Industry Market Report

Over the next five years, the industry is expected to grow with the general US

• economy. Information technology will

continue to be a key growth area for firms, while other sectors, such as healthcare, also provide new business

• pportunities. Consolidation from the

largest industry players is forecast to continue; however, the overall industry structure will continue to be dominated by small, nonemployer

• perators. These businesses focus on

servicing local or niche markets and, therefore, control exceptionally small proportions of total industry revenue. Overall, industry revenue is forecast to increase an annualized 4.1% to $308.9 billion in the five years to 2021

Sample Industry Reports

Private Equity, Hedge Funds & Investment Vehicles Medical Device Manufacturing

Income Migration Out of Fairfield County

Source: IRS Statistics, 2012-13

County Number of Tax Returns Number of Dependents Aggregate Adjusted Gross Income ($000)

Fairfield County Total Migration-US and Foreign 18,478 32,565 2,349,310 Fairfield County Total Migration-US 18,044 31,623 2,260,717 Fairfield County Total Migration-Same State 4,452 7,577 253,897 Fairfield County Total Migration-Different State 13,592 24,046 2,006,820 Fairfield County Total Migration-Foreign 434 942 88,593 Fairfield County Non-migrants 347,213 758,561 59,520,046 New Haven County 2,988 5,157 160,517 New York County 1,415 1,895 327,841 Westchester County 983 1,779 120,233 Litchfield County 621 1,068 33,802 Hartford County 516 832 36,382 Kings County 424 577 22,011 Foreign - Overseas 364 815 85,832 Palm Beach County 344 662 80,274

• 76% of migrants from Fairfield County left Connecticut, taking more than $2 billion in Adjusted

Gross Income with them.

• Manhattan was the second largest destination, after Connecticut. While New Haven County

received twice as many Fairfield County migrants as Manhattan, those moving to Manhattan had twice the income of those moving to New Haven County.

New York County Clusters Opportunity

Source: US Cluster Mapping Project Manhattan Clusters to Recruit:

• Business Services
• Financial Services
• Marketing, Design, and Publishing
• Education and Knowledge

Creation

• Distribution and Electronic

Commerce

• Hospitality and Tourism
• Insurance Services
• Performing Arts
• Communications Equipment and

Services

• Video Production and Distribution
• Music and Sound Recording
• Information Technology and

Analytical Instruments

• Apparel

Manhattan Clusters to Sell To:

• Food Processing and

Manufacturing

• Construction Products and

Services

• Furniture
• Biopharmaceuticals
• Aerospace Vehicles and

Defense

• Medical Devices
• Metalworking Technology
• Lighting and Electrical

Equipment

Dominant LifeMode Map

Source: esri BAO

Tapestry Segmentation from Esri provides an accurate, detailed description of America's neighborhoods. Segmentation is based on the principle that people with similar tastes and lifestyles will seek

• thers with the same tastes, like seeks like. The 67 market segments

are combined to identify: 14 LifeMode summary groups with similar spending habits and demographic patterns 6 Urbanization summary groups with similar living conditions (for example, urban versus rural)

Demographic Profile

Source: esri Business Analyst Online

Data Note: This report identifies neighborhood segments in the area, and describes the socioeconomic quality of the immediate neighborhood. The index is a comparison

• f the percent of households or Total Population 18+ in the area, by Tapestry segment, to the

percent of households or Total Population 18+ in the United States, by

• segment. An index of 100 is the US average.

Esri’s Tapestry segmentation data for the Western COG towns may help illuminate the talent pool for both existing and start-up businesses in the region. Generally, the region exceeds national averages for wealthy, educated categories. For example, the region has 16 times the national average of Top Tier and 3 times the number of Golden Years households. The region has 10 times the average for International Marketplace households, which are 40% foreign born, with one in four having residents that do not speak English. Of concern is the region’s below-average presence of categories reflecting younger professionals. Categories such as Trendsetters, Laptops and Lattes, and Bright Young Professionals are less than 60% of the national average for those groups.

Top Tier LifeMode

Source: esri BAO Tapestry Segmentation

SOCIOECONOMIC TRAITS

• Top Tier is a highly educated, successful consumer market:

more than one in three residents has a postgraduate degree.

• Annually, they earn more than three times the US median

household income, primarily from wages and salary, but also self-employment income (Index 177) and investments (Index 242).

• These are the nation’s wealthiest consumers. They hire

financial advisers to manage their diverse investment portfolios but stay abreast of current financial trends and products.

• Socially responsible consumers who aim for a balanced

lifestyle, they are goal oriented and hardworking but make time for their kids or grandkids and maintain a close-knit group of friends.

• These busy consumers seek variety in life. They take an

interest in the fine arts; read to expand their knowledge; and consider the Internet, radio, and newspapers as key media sources.

• They regularly cook their meals at home, attentive to

good nutrition and fresh organic foods.

A large presence in well-paid Management, Health Care Practitioners and Technical, and Business and Financial Operations occupations.

International Marketplace LifeMode

Source: esri BAO Tapestry Segmentation

SOCIOECONOMIC TRAITS

• Almost 40% of the population were

born abroad; almost 1 in 4 households have residents who do not speak English.

• 29% have no high school diploma

(Index 201); 29% have a high school diploma only (Index 101).

• Labor force participation rate is 68%

and higher than the US average; unemployment is also higher, at 10.9%.

• These are hard-working consumers,

striving to get ahead; style matters to them.

• Preserving the environment and being

in tune with nature are very important.

• Media used most often is the Internet.

Largely employed in lower skilled, lower-paid

• ccupations, but the largest occupation is in Office

and Administrative support.

For Discussion: Potential Local Analysis Tools: ESRI Business Analyst Online Reports

• Retail Marketplace Profile
• Retail Market Potential
• Demographic and Income Profile
• Disposable Income Profile
• Net Worth Profile
• Other reports as needed (e.g., local application/use as tools, such as

data by drive time to specified location(s))

• Dominant Tapestry Report and Map