1 The Economic Census and NAICS in 30 minutes or less: John Medina, EPCD

2 The Economic Census and NAICS in 30 minutes or less:  How People Use the Economic Census  Industry Classification: What is NAICS?  Find a NAICS code in 4 easy steps

3  How People Use the Economic Census  Industry Classification: What is NAICS?  Find a NAICS code in 4 easy steps The Economic Census and NAICS in 30 minutes or less:

4 Many of the Federal government statistics about business come from the Census Bureau

5 Detailed information on the structure of the economy - What industries exist - Where they are located - What inputs they consume - What outputs they produce - What markets they serve Every 5 years Foundation of most economic statistics What is the Economic Census ?

6 Censuses Cover 98% of the Economy Sector contribution to GDP: Economic Census – 85% Agriculture and Government – 13%

7 --Ben Bernanke, Chairman, Federal Reserve Board of Governors “The Economic Census is indispensable to understanding America’s economy…”

8 What are the data used for? Public Sector Key measures of the economy Support economic policy Private Sector Study industries Study business markets Evaluate investment opportunities

9 Public SectorUses of the Economic Census Public Sector Uses of the Economic Census Benchmark other statistics and surveys Track economic change Attract new businesses Assist business development

10 “Sound and timely economic data are the fuel that powers business decision making…” --Thomas J. Donohue, President, United States Chamber of Commerce C C ensus data -not just for government use…

11 Private SectorUses of the Economic Census Private Sector Uses of the Economic Census 1. Study your industry Market share Product trends Strategic planning What’s my share? How does my firm compare?

12 Private SectorUses of the Economic Census Private Sector Uses of the Economic Census 1. Study your industry Market share Product trends Strategic planning 2. Study business markets Site locations Sales territories Forecasting sales Where are my customers? suppliers? competitors?

13 Private SectorUses of the Economic Census Private Sector Uses of the Economic Census 1. Study your industry Market share Product trends Strategic planning 2. Study business markets Site locations Sales territories Forecasting sales 3. Evaluate investments Estimate market size Data for loan applications

14 Surveys vs Census Economic Surveys Annual, quarterly, monthly Limited detail Mostly national Economic Census Every 5 years (years ending in 2 & 7) Industry/product detail Detailed Geography

Economic Demographic

Principal Economic Indicators… Data more frequent than annual Economic Briefing Room

18  How People Use the Economic Census  Industry Classification: What is NAICS?  Find a NAICS code in 4 easy steps The Economic Census and NAICS in 30 minutes or less:

19 Industry Classification: What is NAICS?

20 NAICS North American Industry Classification System NAICS superseded SIC in 1997

21 New Numbering System DescriptionCodeLevel Information 51 Sector Broadcasting (except Internet) 515 Subsector Radio and Television Broadcasting 5151 Industry Group Radio Broadcasting Industry Radio Stations U.S. Industry NAICS codes are hierarchic

An establishment is a store, warehouse, factory, etc. at a single physical location We assign industry codes to establishments

What is a company? One or more establishments under common ownership or control

More information about NAICS?  Definition for each industry  Alphabetic index  Correspondence tables 2002 Edition NAICS 02 to NAICS 97 NAICS 97 to NAICS Edition NAICS 97 to SIC SIC to NAICS 97 In print and at

26 The Economic Census and NAICS in 30 minutes or less:  How People Use the Economic Census  Industry Classification: What is NAICS?  Find a NAICS code in 4 easy steps

1. Start here

2. Enter keyword

3. Select an industry from the search results

4. Confirm selection with industry definition

Economic Census