New Report Outlines Economic Development Opportunities
The Louisa County Department of Economic Development announces the release of the Comprehensive Target Markets Report, which identifies target industry groups for future business recruitment efforts in the county.
Target industry groups were evaluated using a variety of screening criteria, which included factors such as high relative wages; supporting or strengthening existing industry groups; and potential to employ underemployed/unemployed citizens.
For each group that met the initial criteria, the final "optimal" target industries had to fulfill two additional requirements: positive projected employment growth over the next five years and industry-specific earnings greater than the overall local or state average.
In Louisa County, the optimal industry targets fall into four main categories:
- Chemicals & Plastics;
- Forest & Wood Products;
- Business & Finance; and
- Agriculture & Food Processing.
Light Manufacturing, Transportation & Logistics, and support activity related to Energy & Related Construction were also identified as industry groups to target in Louisa County.