Tompkins County Local Sectors
Gross Product, Employment and Compensation.
A publication of Tompkins County Area Development | No. 2 | December 2012
Method: Report No.1 provided an overview of Tompkins County traded sectors, those sectors that generate wealth from outside the County. Report No. 2 focuses on how that wealth is spent within the County, to support local household and business activities. The data in this report is from IMPLAN’s 2009 data set fro Tompkins County, New York.
Industries are largely grouped in conventional NAICS code sector. However, TCAD defines High Tech Services sectors to include traded industries from the Information sector and the Professional, scientific, and Technical Services sector. Therefore, those traded industries are included in the High Tech Services, shown in Report No. 1. The remaining industries are detailed here as the Local Information sector and Local Professional, Scientific and technical Services sector. Local Accommodations includes fraternities and sororities and some other accommodations — it does not include hotels and motels, which are part of the traded Visitors and Tourists sector; also shown in Report No. 1. Portions of some Retail, Transportation, and Arts and Entertainment industries are also included in the Visitors and Tourists Sector.
Overview: The total gross product of the Tompkins County economy is about $7 billion. That is divided nearly evenly between local sectors, which provide goods and services to local residents, and traded sectors which primarily sell their goods and services outside of Tompkins County. This report focuses on the local sectors. Real Estate, Government (including public education), and Heath and Social Services are the three largest sectors in terms of gross output, each generating over $500 million. The Real Estate sector reflects large investments in rental properties particularly housing for students. The relatively large Local Accommodations and Food Services sector is also driven by the student population.
The total number of jobs in Tompkins County, including students who work on the campuses is about 62,000 jobs. Total compensation generated by the County economy i just under $3 billion. The average compensation in the Traded sector is $53,000; it is $40,000 for the Local sector.
Jobs in Government and Professional Services, as well as Wholesale Trade pay well above average, while jobs in the Arts/Entertainment and Personal Services have low compensation. Real Estate is unusual, with most of the gross revenues paying for property expenses and proprietors’ income; the relatively few jobs for maintenance and clerical tasks are also fairly low paying positions.
Summary: Government and Health/Social Services are the largest local employment sector, followed by Retail and Local Accommodations/ Food Services. Local sectors represent a diverse range of skills and compensation levels.