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Quay County – Industry Affiliation

Picture of valves The array of different industries in a county significantly impacts its economy in various ways, contributing to economic stability, growth, and resilience. Here are some key effects:

  1. Economic Stability and Resilience
    • Diversification Reduces Risk: A county with a diverse range of industries is less vulnerable to economic shocks. If one industry faces a downturn, others can help stabilize the economy.
    • Resilience to Market Fluctuations: Different industries often respond differently to market conditions. For example, while manufacturing might decline during a recession, healthcare or education might remain stable.

  2. Job Creation and Employment
    • Variety of Employment Opportunounties: A mix of industries provides a wide range of job opportunounties, catering to different skill sets and education levels.
    • Reduced Unemployment: Diversification helps maintain lower unemployment rates, as job losses in one sector can be offset by gains in another.

  3. Innovation and Competitiveness
    • Cross-Industry Collaboration: Different industries can foster innovation through collaboration. For example, technology companies working with healthcare providers can lead to advancements in medical technology.
    • Attracting Talent: A diverse industrial base attracts a skilled workforce, enhancing the county's competitiveness and ability to innovate.

  4. Economic Growth and Development
    • Increased GDP: A variety of industries contribute to the county's Gross Domestic Product (GDP), driving overall economic growth.
    • Infrastructure Development: The presence of multiple industries often leads to better infrastructure, such as transportation, utilounties, and communication networks, which further supports economic activounties.

  5. Tax Revenue and Public Services
    • Higher Tax Revenue: A diverse industrial base generates more tax revenue from different sources, including corporate taxes, income taxes, and sales taxes.
    • Funding for Public Services: Increased tax revenue allows the county to invest in public services like education, healthcare, and public safety, improving the quality of life for residents.

  6. Attracting Investment
    • Investor Confidence: A diversified economy is more attractive to investors, as it reduces the risk associated with economic downturns in any single industry.
    • Foreign Direct Investment (FDI): Counties with a variety of industries are more likely to attract FDI, which can further boost economic growth.

  7. Quality of Life
    • Variety of Goods and Services: A diverse economy ensures a wide range of goods and services are available to residents, improving their quality of life.
    • Cultural and Social Benefits: Different industries often bring cultural and social diversity, enriching the county's cultural landscape and community life.

  8. Environmental Impact
    • Sustainable Practices: A mix of industries can promote sustainable practices, as different sectors may adopt varying approaches to environmental responsibility.
    • Balanced Resource Use: Diversification can lead to more balanced use of natural resources, reducing the environmental footprint of the county.

  9. Global Connectivity
    • Trade and Export Opportunounties: A diverse industrial base enhances a county's ability to engage in international trade, exporting a variety of goods and services.
    • Global Networks: Different industries often have global networks, increasing the county's connectivity and integration into the global economy.

In summary, the presence of a diverse array of industries in a county fosters economic stability, growth, and resilience, while also enhancing the quality of life for its residents and attracting investment and talent. This diversification is crucial for sustainable long-term economic development.

A diversification score measures the diversity of the industries in the county. As the value appoaches 100, industry diversity decreases and therefore increasing the risk of economic failure for the county should those limited industries befall a calamity. The industry diversification score for this county is:

13.70

Most common industry excluding Educational Services is:

Entertainment Services

 
DescriptionEm­ployed
16 and
Over
Agri­culture/
Mining/
Con­struction
Manufac­turing Whole­sale/
Retail
Transpor­tation Infor­mation Finance/
Insu­rance/
Real Estate
Profes­sional
Services
Manage­ment
Services
Adminis­trative/
Waste Services
Educa­tional
Services
Enter­tainment
Services
Other
Profes­sional
Services
Public
Adminis­tration

Quay County3,5814304441218739149306017782714271230
New Mexico (in 000's)9761134012446144779039247985177
National (in 000's)169,61014,45616,89722,6579,8133,20511,37013,3552367,03039,44715,0548,0088,082
Curry County22,9773,4061,6963,3601,931368818962185814,9292,5691,0341,305
San Miguel County10,8121,1101371,1764906928630204714,0161,0405511,164
Roosevelt County9,1471,1588731,02067312238134301662,295786494836
Deaf Smith County8,8291,6991,6051,163705142358901781,428799623291
Hartley County1,89551412828333148337047568733184
Guadalupe County1,783343168203630103095403158108229
Union County1,456340902094324334901621120183157
De Baca County87842549171945420023970422
Oldham County7681379250568812013255443459
Harding County269585287072069918633
 
Per Cent to Total Employed 16 and OverDiversity
Index
 

Quay County13.7012.011.2311.515.221.094.168.550.000.4721.8419.947.576.42
New Mexico12.7411.534.0912.724.731.404.808.140.053.9725.3310.095.247.89
National11.768.529.9613.365.791.896.707.870.144.1423.268.884.724.77
Curry County12.3614.827.3814.628.401.603.564.190.082.5321.4511.184.505.68
San Miguel County18.9410.271.2710.884.530.642.652.790.004.3637.149.625.1010.77
Roosevelt County12.8212.669.5411.157.361.334.173.750.001.8125.098.595.409.14
Deaf Smith County13.5419.2418.1813.177.990.162.661.010.002.0216.179.057.063.30
Hartley County19.7327.126.7514.931.740.744.381.950.002.4829.973.851.644.43
Guadalupe County14.2119.249.4211.393.530.000.560.170.005.3322.608.866.0612.84
Union County13.6823.356.1814.352.951.652.273.370.001.1014.4913.805.7010.78
De Baca County30.2548.415.581.9422.100.574.780.000.002.6211.050.000.462.51
Oldham County17.7917.8411.986.517.291.041.041.560.001.6933.205.734.437.68
Harding County21.5021.561.8610.412.600.002.600.740.002.2336.806.692.2312.27
 
Comparisons to State Norms % to Total >= 150% % to Total < 50% 

Quay County 104.1330.0290.43110.4377.5586.60105.010.0011.9686.20197.55144.3581.36
New Mexico 100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00
National 73.91243.39105.00122.34134.56139.5396.76299.89104.4391.8187.9490.0660.36
Curry County 128.55180.33114.94177.71114.0474.1051.45168.7363.7184.68110.7885.8471.95
San Miguel County 89.0330.9685.4995.8445.4455.0634.330.00109.76146.6395.3197.21136.37
Roosevelt County 109.79233.1787.65155.5994.9786.6946.080.0045.7299.0485.14103.01115.77
Deaf Smith County 166.88444.12103.54168.8511.2955.4012.390.0050.8063.8589.67134.5941.75
Hartley County 235.22165.02117.3836.8252.6091.1623.990.0062.49118.3238.1731.2056.15
Guadalupe County 166.82230.1989.4974.720.0011.672.070.00134.2489.2287.80115.54162.69
Union County 202.50151.01112.8362.45117.3747.1741.360.0027.6957.21136.78108.73136.59
De Baca County 419.77136.3415.22467.2440.5599.560.000.0066.0043.610.008.6931.74
Oldham County 154.70292.6651.17154.1974.1721.6819.200.0042.65131.0756.7784.4497.31
Harding County 186.9845.4181.8255.030.0054.169.140.0056.20145.2866.3042.55155.40
 
Comparisons to National Norms % to Total >= 150% % to Total < 50% 

Quay County 140.8912.3386.1390.2657.6362.07108.520.0011.4593.89224.65160.29134.79
New Mexico 135.3041.0995.2481.7474.3271.67103.3533.3595.76108.92113.71111.04165.67
National 100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00
Curry County 173.9374.09109.47145.2684.7553.1153.1756.2661.0192.24125.9795.31119.19
San Miguel County 120.4612.7281.4378.3333.7739.4635.470.00105.10159.71108.38107.94225.93
Roosevelt County 148.5495.8083.48127.1770.5862.1347.620.0043.79107.8896.82114.39191.81
Deaf Smith County 225.79182.4898.61138.028.3939.7012.800.0048.6469.54101.96149.4569.17
Hartley County 318.2567.80111.8030.1039.0965.3424.800.0059.84128.8843.4034.6593.03
Guadalupe County 225.7194.5885.2361.070.008.372.140.00128.5597.1899.84128.29269.54
Union County 273.9962.05107.4651.0587.2233.8142.740.0026.5162.31155.54120.74226.29
De Baca County 567.9556.0214.49381.9130.1371.360.000.0063.2047.500.009.6552.59
Oldham County 209.30120.2548.74126.0355.1215.5419.840.0040.84142.7664.5593.77161.22
Harding County 252.9818.6677.9244.980.0038.829.440.0053.82158.2475.3947.24257.45


Sources: STI: PopStats