Economic Profile of Lawrence/Douglas County: Part 1 -- Sectoral Mix of Industries Compared to the State, the Nation and Similarly Sized College Towns

Abstract

This report investigates the structure and condition of the Lawrence/ Douglas County economy relative to the state, the nation and to a group of similarly sized counties with college towns in the Midwest. The sectoral mix of industries is analyzed first to obtain a detailed picture of the major components of the local economy. A comparison of the local economy to that of other midwestern college towns reveals interesting facts about the strength of the local goods-producing sector but at the same time shows a weakness in some service-producing segments of the economy.

Strategies to promote industries with a below-average share of employment relative to the nation and to other college towns include: offering financial assistance for start-up firms, providing incubator space (where university researchers and entrepreneurs can work together on joint ventures), improving access to university resources, working to retain established businesses in the local area, and more fully utilizing the well educated work force, as well as building the community's reputation for a supportive local government and a good quality of life.