Winston-Salem Economic Development Report

For my Economic Development Techniques course, I authored a report that details the economic history of Winston-Salem, analyzes the current economy based on various indicators, and proposes three economic development recommendations.

Indicators and variables analyzed include:

  • Demographic variables such as population growth, race and ethnicity, poverty rate, median household income, median gross rent, owner-occupied housing rate, and educational attainment

  • NAICS sectors by total employment

  • Largest employers in the city and county

  • SWOT analysis

  • NAICS 3-digit industry variables for local industry clusters, including total employment, location quotient, change in location quotient over the past decade, and local shift share

  • Bubble chart analysis

  • Background and trends in NAICS 5-digit sub-sector industries that are clustered in the region, using information from IBIS World Industry Reports

  • Labor market variables, including the change in the employment rate, unemployment rate, and total labor force over time

  • Largest occupations in the county by total employment

  • Job quality variables for common occupations, including expected occupational growth, location quotient, annual median wage, typical education needed, typical work experience needed, whether there is on-the-job training, and the skills and knowledge required for the occupation

  • Differences between national and local annual median wages for clustered industries

  • Revenue and employment projections for local industry clusters

  • Upstream and downstream linkages for two industry clusters