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Economic Engines Of Tompkins County Essay

755 words - 4 pages

Tompkins County, home to Cornell University, encompasses the Ithaca metropolitan area and is recognized as a prime location for agriculture, manufacturing, and many other industries. While some industries in Ithaca are classified as base industries that produce goods primarily for export, there are also non-base industries that produce goods primarily for the local population. The purpose of this essay is to analyze the main base economic engines in Ithaca. Therefore, I will use the location quotient to differentiate base and non-base industries, the number of the employees to determine the size of the industry, and hourly wages to evaluate how employees are being paid. Based on the above ...view middle of the document...

In this case, the computer and electronic product manufacturing industry has over 829 employees, more than 1.92% of the total employment in Ithaca . In addition, the industry has an hourly wage of $46.50, which is four times higher than the U.S average hourly wage of $10.34 . Overall, computer and electronic product manufacturing is not only an exported-oriented industry, but also a large employer that hires employees at an exceptional hourly wage.
Besides computer and electronic product manufacturing industry, the agriculture industry is also considered a large export–oriented industry that contributes significantly to the economy . Agriculture and forestry support activities industry has a location quotient as high as 2.3 , meaning it produces more than twice the amount of goods consumed by the city, and hires over 311 employees. The hourly wage for the farming industry is $16.35, which is significantly higher than the national hourly wage of $11.65 across farms in the U.S . In addition to the direct contribution through production and employment, local farmers also indirectly contribute to the economy through the purchase of equipment and supplies and through their relatively low demands on the costly public infrastructure.
Lastly, education plays a vital role in Tompkins County’s economy because Cornell University contributes significantly to employment hiring, goods and services purchasing, and student...

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