EXECUTIVE SUMMARY
- The two most competitive private industry sectors in the Plymouth Labor Market Area have been Manufacturing (NAICS 31-33) and Health Care and Social Assistance (NAICS 62) since the Great Recession.
- Industries with potential to do well in Plymouth Chamber Area were found in Manufacturing (NAICS 31-33) and Professional, Scientific, and Technical Services (NAICS 54).
- The five largest employing private sectors as of 2013 were:
- Accommodation and Food Services (NAICS 72)
- Retail Trade (NAICS 44-45)
- Health Care and Social Assistance (NAICS 62)
- Manufacturing (NAICS 31-33)
- Arts, Entertainment, and Recreation (NAICS 71).
The preceding lists present both opportunities and challenges to the Plymouth Chamber Area. Health Care and Social Assistance (NAICS 62) and Manufacturing (NAICS 31-33) were the area’s top two most competitive industry sectors and, at the same time, they were two of the five largest employing sectors. The data also show that Manufacturing (NAICS 31-33) has a potential to make an even greater contribution to the area’s economy. Clearly, business recruitment efforts should be directed at bringing more of these industries to the area. On the other hand, Accommodation and Food Services (NAICS 72) and Retail Trade (NAICS 44-45), the area’s two largest employing sectors, were two of the least competitive sectors during the last decade. Therefore, it is no surprise that the number of jobs in Retail Trade (NAICS 44-45) has been on downhill throughout the past decade, and that it was the area’s only major sector that has yet to show signs of recovery since the Great Recession. It is recommended that an appropriate strategy should be in place to retrain displaced workers from these sectors.