Change in Number of Businesses by Sector
What does this measure?
The change in the number of business establishments by sector, shown as a percentage gain or loss from 2000 to 2011.
Why is this important?
This indicator reveals which industries are adding establishments and which are experiencing stagnation, contraction or consolidation.
How are Cayuga and Seneca counties performing?
From 2000 to 2011, the total number of businesses increased by 9% in Cayuga and 11% in Seneca, higher than the 8% increase in the state (excluding NYC) level but below the national increase of 15%. Comparison counties showed varied growth, ranging from 4% in Onondaga to 11% in Ontario.
In Cayuga, the sizeable sectors with the greatest increases in business establishments were Construction (34%), Financial Activities (18%), and Professional and Business Services (12%). In Seneca, the larger sectors with the notable increases were Professional and Business Services (16%), Construction (7%), and Trade, Transportation and Utilities (7%). The only sectors to lose businesses between 2000 and 2011 were Leisure and Hospitality (-3%) and Manufacturing (-9%) in Cayuga.
Notes about the data
This is a measure of business establishments, not the number of separate firms. A single business may have multiple locations. This indicator includes both new firms and additional locations of current business firms.