Regional Industry Analysis: An Approach for Large and Smaller Economies

Abstract

Some challenges communities of all sizes face in identifying the strengths and weaknesses in their regional economy include access to the data and the complexity of the models available to evaluate their regional economies. This research proposes a holistic and accessible method of industry analysis and applies it to the Boise–Nampa Metropolitan Statistical Area. By combining a quantitative quadrant method with a qualitative analyses based on focus groups and interviews, our synergistic approach not only more accurately identifies industry clusters than any isolated approaches but also more concretely examines the multidimensional links between industries and their ties. This methodology is applicable to virtually any size community to learn about its economic strengths and weaknesses and make decisions on where to target its resources for the benefit of the community.