Economic Base
Every settlement has an economic base. An economic base is the sum of its basic industries. Basic industries sell or send out their goods and services outside the settlement. Nonbasic industries sell or send their goods or services inside the settlement. Most of the nonbasic industries deal in consumer services. Having a settlement with a large economic base is beneficial to the community within the settlement in the form of money, taxes, goods, and services. This stimulation of the local economy can create more basic industries.
Specialization of Settlements: Settlements have occasionally been known to be very good at a very specific industry. This could be a primary, secondary, or tertiary industry. For example, Pittsburgh is generally known for its past with steel manufacturing. They even have an NFL team called the "Steelers". These economic activities have helped to garner an image or perception that is synonymous with the city itself. When most people think of the automobile industry, they think of Detroit. Increasingly, the United States has expanded basic industries in cities to include financial, consumer, public, and entertainment focuses. Below are examples of cities and their specialized basic services.
Because of the change of the economic landscape for the United States, many cities have had to adapt to expand its economic base and become more diversified. Pittsburgh, no longer relying on the steel industry, has pushed into the technology field and has become a destination for many tech start-up companies. Other cities have had a hard time readjusting. Detroit, for example, has not held well under the decline of the automobile industry and is still trying to find a way to diversify its economic base.
Talent Distribution: When discussing talented individuals, it is important to note talented is used in the sense of professionalism and the ability for these talented individuals to make a positive impact on the culture, professional, and educational services of a settlement. There is no magic formula that determines where talented individuals decide to make their home. However, studies have shown they tend to gravitate towards settlements that have more cultural diversity and have more amenities to offer: bars, restaurants, museums, and parks. Several cities have seen an influx of talented individuals, including large cities such as New York and Los Angeles, but smaller ones as well, including Chattanooga, TN, and Greenville, SC.
Specialization of Settlements: Settlements have occasionally been known to be very good at a very specific industry. This could be a primary, secondary, or tertiary industry. For example, Pittsburgh is generally known for its past with steel manufacturing. They even have an NFL team called the "Steelers". These economic activities have helped to garner an image or perception that is synonymous with the city itself. When most people think of the automobile industry, they think of Detroit. Increasingly, the United States has expanded basic industries in cities to include financial, consumer, public, and entertainment focuses. Below are examples of cities and their specialized basic services.
Financial and business: New York City, San Francisco, Los Angeles
Computer and technology: Boston and San Jose
Military and government: Norfolk, Colorado Springs, San Diego, Washington, D.C.
Entertainment and recreation: Las Vegas, Orlando, and Atlantic City
Computer and technology: Boston and San Jose
Military and government: Norfolk, Colorado Springs, San Diego, Washington, D.C.
Entertainment and recreation: Las Vegas, Orlando, and Atlantic City
Because of the change of the economic landscape for the United States, many cities have had to adapt to expand its economic base and become more diversified. Pittsburgh, no longer relying on the steel industry, has pushed into the technology field and has become a destination for many tech start-up companies. Other cities have had a hard time readjusting. Detroit, for example, has not held well under the decline of the automobile industry and is still trying to find a way to diversify its economic base.
Talent Distribution: When discussing talented individuals, it is important to note talented is used in the sense of professionalism and the ability for these talented individuals to make a positive impact on the culture, professional, and educational services of a settlement. There is no magic formula that determines where talented individuals decide to make their home. However, studies have shown they tend to gravitate towards settlements that have more cultural diversity and have more amenities to offer: bars, restaurants, museums, and parks. Several cities have seen an influx of talented individuals, including large cities such as New York and Los Angeles, but smaller ones as well, including Chattanooga, TN, and Greenville, SC.
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