Entrepreneurship Metrics - Mark Muro
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This presentation was part of the Growing Entrepreneurial Communities Summit, a practitioner-focused summit designed to help economic development and small business practitioners effectively create economic growth through entrepreneurship in local communities. The 2018 Summit, subtitled Entrepreneurship on the Edges, focused on providing information and practitioner insight in how to effectively develop disadvantaged urban and rural communities using entrepreneurship-led development strategies.
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Entrepreneurship Metrics - Mark Muro
- 1. Mark Muro Brookings Metropolitan Policy Program Growing Entrepreneurial Communities Summit April 24-25, 2018 Contexts for research: Digitalization, community size, and growth @MarkMuro1
- 3. Digitalization and the hierarchies of growth Geographies of opportunity 1 2
- 5. 56% 30% 40% 48% 5% 23% 2002 2016 Low Medium High Share of U.S. employment by digital skill level The share of jobs requiring high & medium digital skills has skyrocketed Administrative support 39 64 Physician assistants 27 56 70% in Medium or High
- 6. Tech empowers: Digitalization brings higher wages Average annual wage by digital score, 2016 $ 30 K $ 48 K $ 73 K Low Medium High
- 7. But tech also polarizes: Regions’ digital skills correlate with higher pay $0 $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 $80,000 $90,000 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% Averagewage,2016 High digital employment share, 2016 Correlation between metro mean annual wage and high digital employment share Boulder, CO Hammond, LA San Jose, CA Boston, MA Kansas City, MO Lincoln, NE Janesville, WI Bismarck, ND Sioux Falls, SD Lawrence, KS
- 8. These dynamics appear to be favoring larger, denser communities Source: Brookings analysis of U.S. Census Population Estimates -2% 0% 2% 4% 6% 8% 10% 2010 2011 2012 2013 2014 2015 2016 Population growth by community size Pct. change since 2010 1,000,000+ 250,000 - 1,000,000 < 250,000 Micro areas Metro adjacent counties Non-adjacent counties
- 9. These dynamics appear to be favoring larger, denser communities 0% 2% 4% 6% 8% 10% 12% 14% 16% 2010 2011 2012 2013 2014 2015 2016 Employment growth by community size Pct. change since 2010 1,000,000+ 250,000 - 1,000,000 < 250,000 Micro areas Metro adjacent counties Non-adjacent counties Source: Brookings analysis of EMSI data
- 10. These dynamics appear to be favoring larger, denser communities Source: Brookings analysis of U.S. Business Dynamics Statistics 0% 2% 4% 6% 8% 10% 12% 14% Startup rate for metropolitan and non-metropolitan areas Percent, 1978 - 2014 Metropolitan areas Non-metropolitan areas Note: Establishment births at new firms as a share of all establishments
- 11. Digitalization and the hierarchies of growth Geographies of opportunity 1 2
- 12. Some rural places in most regions have seen strong growth since the Great Recession… Source: Brookings analysis of EMSI and QCEW data Note: Only non-metropolitan counties displayed; 2017 annual average based on January to September Employment CAGR 2010 - 2017 1.0% - 3.0% 3.0% - 13.8%
- 13. …and as a whole smaller places performed markedly better in 2017 Source: Brookings analysis of QCEW data 0% 1% 2% 3% 4% 5% 6% 7% January February March April May June July August September Employment growth by community size Pct. change since January, 2017 1,000,000+ 250,000 - 1,000,000 < 250,000 Micro areas Metro adjacent counties Non-adjacent counties Note: Preliminary estimates
- 14. Some states are seeing e-ship that exceeds metro rates Source: Brookings analysis of U.S. Business Dynamics Statistics 7.6% 7.4% 7.0% 6.9% 6.2% 6.2% 6.1% 6.1% 6.2% Startup rate in non-metropolitan areas Selected states, 2014 Startup rate 2014 All metro areas 6.4% All non-metro areas 4.8% United States 6.1% Note: Establishment births at new firms as a share of all establishments
- 15. And likewise some very small places excel at producing high-growth firms 12 micropolitan areas have densities of high-growth firms that place them in the top 25 among all metropolitan areas… They include: • Spirit Lake, IA • Summit Park, UT • Bozeman, MT • Oxford, MS • Hailey, ID Source: Brookings analysis of Inc. Magazine and Center for American Entrepreneurship data
- 16. In sum, we need to dig deeper Aggregate information tends to obscure variation--and insight that local practitioners can build on Researchers—working with practitioners—should keep digging beyond the relatively limited data on entrepreneurship that is easiliy available for localities and neighborhoods
- 17. Mark Muro Senior Fellow Metropolitan Policy Program at Brookings mmuro@brookings.edu @markmuro1 For more information:
- 18. Mark Muro Brookings Metropolitan Policy Program Growing Entrepreneurial Communities Summit April 24-25, 2018 Contexts for research: Digitalization, community size, and growth @MarkMuro1
Editor's Notes
- National change over time
- National change over time