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Charles County – Industry Affiliation

Picture of valves The array of different industries in a county significantly impacts its economy in various ways, contributing to economic stability, growth, and resilience. Here are some key effects:

  1. Economic Stability and Resilience
    • Diversification Reduces Risk: A county with a diverse range of industries is less vulnerable to economic shocks. If one industry faces a downturn, others can help stabilize the economy.
    • Resilience to Market Fluctuations: Different industries often respond differently to market conditions. For example, while manufacturing might decline during a recession, healthcare or education might remain stable.

  2. Job Creation and Employment
    • Variety of Employment Opportunounties: A mix of industries provides a wide range of job opportunounties, catering to different skill sets and education levels.
    • Reduced Unemployment: Diversification helps maintain lower unemployment rates, as job losses in one sector can be offset by gains in another.

  3. Innovation and Competitiveness
    • Cross-Industry Collaboration: Different industries can foster innovation through collaboration. For example, technology companies working with healthcare providers can lead to advancements in medical technology.
    • Attracting Talent: A diverse industrial base attracts a skilled workforce, enhancing the county's competitiveness and ability to innovate.

  4. Economic Growth and Development
    • Increased GDP: A variety of industries contribute to the county's Gross Domestic Product (GDP), driving overall economic growth.
    • Infrastructure Development: The presence of multiple industries often leads to better infrastructure, such as transportation, utilounties, and communication networks, which further supports economic activounties.

  5. Tax Revenue and Public Services
    • Higher Tax Revenue: A diverse industrial base generates more tax revenue from different sources, including corporate taxes, income taxes, and sales taxes.
    • Funding for Public Services: Increased tax revenue allows the county to invest in public services like education, healthcare, and public safety, improving the quality of life for residents.

  6. Attracting Investment
    • Investor Confidence: A diversified economy is more attractive to investors, as it reduces the risk associated with economic downturns in any single industry.
    • Foreign Direct Investment (FDI): Counties with a variety of industries are more likely to attract FDI, which can further boost economic growth.

  7. Quality of Life
    • Variety of Goods and Services: A diverse economy ensures a wide range of goods and services are available to residents, improving their quality of life.
    • Cultural and Social Benefits: Different industries often bring cultural and social diversity, enriching the county's cultural landscape and community life.

  8. Environmental Impact
    • Sustainable Practices: A mix of industries can promote sustainable practices, as different sectors may adopt varying approaches to environmental responsibility.
    • Balanced Resource Use: Diversification can lead to more balanced use of natural resources, reducing the environmental footprint of the county.

  9. Global Connectivity
    • Trade and Export Opportunounties: A diverse industrial base enhances a county's ability to engage in international trade, exporting a variety of goods and services.
    • Global Networks: Different industries often have global networks, increasing the county's connectivity and integration into the global economy.

In summary, the presence of a diverse array of industries in a county fosters economic stability, growth, and resilience, while also enhancing the quality of life for its residents and attracting investment and talent. This diversification is crucial for sustainable long-term economic development.

A diversification score measures the diversity of the industries in the county. As the value appoaches 100, industry diversity decreases and therefore increasing the risk of economic failure for the county should those limited industries befall a calamity. The industry diversification score for this county is:

12.29

Most common industry excluding Educational Services is:

Public Administration

 
DescriptionEm­ployed
16 and
Over
Agri­culture/
Mining/
Con­struction
Manufac­turing Whole­sale/
Retail
Transpor­tation Infor­mation Finance/
Insu­rance/
Real Estate
Profes­sional
Services
Manage­ment
Services
Adminis­trative/
Waste Services
Educa­tional
Services
Enter­tainment
Services
Other
Profes­sional
Services
Public
Adminis­tration

Charles County95,7367,0772,7339,8006,3121,4074,71310,276713,90618,3126,9984,56719,564
Maryland (in 000's)3,351265158353171591954094141790255174376
National (in 000's)170,84514,58316,94922,45210,0443,19011,49313,8472177,12439,93414,8428,0278,142
Fairfax County656,10734,78318,85153,58621,62115,96448,242152,0071,14023,676117,79249,71339,99778,735
Prince George's County535,54352,97311,29150,61135,52410,00225,14451,16569632,509115,71343,91630,10275,897
Prince William County276,50224,2358,93630,06213,5805,23114,74639,52040913,39455,14322,58514,45034,211
Stafford County90,1776,4592,3899,8394,3921,7143,66711,2621784,53617,3996,8283,82717,687
St. Mary's County62,1976,6463,0696,3713,2145641,7519,024491,84610,9084,1602,66211,933
Calvert County50,8956,1492,0944,6623,1897911,8734,755591,85010,7083,8322,4938,440
King George County15,4471,2666401,8307151425751,893123952,6361,1037773,463
Westmoreland County7,8109781961,2155332738774504871,220613442967
 
Per Cent to Total Employed 16 and OverDiversity
Index
 

Charles County12.297.392.8510.246.591.474.9210.730.074.0819.137.314.7720.44
Maryland11.937.904.7210.535.091.755.8212.210.114.2223.597.625.2111.22
National11.778.549.9213.145.881.876.738.110.134.1723.378.694.704.77
Fairfax County12.855.302.878.173.302.437.3523.170.173.6117.957.586.1012.00
Prince George's County11.569.892.119.456.631.874.709.550.136.0721.618.205.6214.17
Prince William County11.348.763.2310.874.911.895.3314.290.154.8419.948.175.2312.37
Stafford County12.357.162.6510.914.871.904.0712.490.205.0319.297.574.2419.61
St. Mary's County12.3710.694.9310.245.170.912.8214.510.082.9717.546.694.2819.19
Calvert County12.0112.084.119.166.271.553.689.340.123.6321.047.534.9016.58
King George County12.888.204.1411.854.630.923.7212.250.082.5617.067.145.0322.42
Westmoreland County10.9712.522.5115.566.820.354.969.540.006.2415.627.855.6612.38
 
Comparisons to State Norms % to Total >= 150% % to Total < 50% 

Charles County 93.5260.4697.19129.5283.8984.5587.8968.8796.7881.0995.8891.64182.08
Maryland 100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00
National 107.99210.09124.77115.49106.58115.5466.36118.1498.9199.10113.9590.2642.47
Fairfax County 67.0760.8577.5464.73138.88126.29189.70161.3685.6076.1199.38117.11106.93
Prince George's County 125.1444.6589.72130.30106.6080.6478.23120.69144.0091.60107.56107.98126.28
Prince William County 110.8968.44103.2296.48107.9991.60117.03137.37114.9184.55107.14100.39110.24
Stafford County 90.6256.10103.5995.67108.4969.84102.26183.31119.3281.8099.3281.53174.76
St. Mary's County 135.19104.5097.25101.5151.7648.35118.8073.1670.4174.3587.7382.22170.95
Calvert County 152.8587.1386.97123.0988.7163.2176.50107.6686.2389.2098.7694.10147.76
King George County 103.6987.74112.4890.9352.4763.93100.3472.1460.6672.3593.6696.63199.75
Westmoreland County 158.4353.15147.70134.0619.7385.1178.110.00147.9266.23102.95108.72110.32
 
Comparisons to National Norms % to Total >= 150% % to Total < 50% 

Charles County 86.6028.7877.89112.1578.7173.18132.4358.3097.8581.8384.14101.53428.79
Maryland 92.6047.6080.1586.5993.8386.55150.6884.65101.10100.9187.76110.79235.49
National 100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00
Fairfax County 62.1128.9662.1556.05130.31109.30285.85136.5986.5476.8187.21129.75251.80
Prince George's County 115.8821.2571.91112.83100.0269.79117.88102.16145.5992.4494.39119.63297.36
Prince William County 102.6832.5882.7383.54101.3279.28176.35116.28116.1885.3294.02111.23259.61
Stafford County 83.9126.7083.0282.84101.8060.45154.09155.17120.6482.5487.1690.32411.54
St. Mary's County 125.1849.7477.9487.9048.5741.85179.0161.9371.1875.0376.9991.09402.57
Calvert County 141.5441.4769.70106.5883.2454.71115.2791.1387.1890.0186.67104.25347.96
King George County 96.0141.7690.1578.7349.2355.33151.2061.0761.3373.0182.19107.06470.40
Westmoreland County 146.7025.30118.38116.0818.5273.66117.690.00149.5566.8390.35120.45259.80


Sources: STI: PopStats, Circa April 2025