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L. BUSINESS TRENDS (CHURNING) ACTIVITY
This Section presents analysis of
historical business trends within the College Service Area
and for the County of Los Angeles. The analysis entails identifying
the Service Area business base by 4-digit SIC Code at a prior
point in time (April 1999). From this point in time a snapshot
is taken of the same business base 5 years later within the
same Service Area Zip Codes. This analysis reveals changes
in this base including numbers of business failures (by industry,
number of employees, and gross sales estimates). The analysis
also shows the number of new business start-ups, in-migrants,
and out-migrants from this same College Service Area. This
analysis reveals the extent of “business churning” (a
measure of business start-ups and failure activity). The
data is presented at the Zip Code level as well as summaries
for the County. Such historical business data is not readily
available from government sources which typical only provide
similar data at the City or regional level. This data is
derived from a unique source, credit bureau agencies and
is more current and inclusive (includes sole proprietorships)
than typical government data. This information is derived
from the business data publishing firm, BizMiner.
This information is useful in understanding
business trends, economic health, and workforce conditions
so that community colleges can provide more focused business
assistance and workforce training strategies at the local
level. The products include data tables and maps.
The following Exhibits are contained in this Report section:
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