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Retail pull factor retail trade
Using Census Data or more current population numbers for state and sub-state area (county OR city of focus), , calculate and discuss the results:
TRADE AREA CAPTURE (TAC) for your selected community (or county) of focus for:
Data you will need:
a. City or County of focus Population .
b. State population.
c. Actual sales in Retail in your city of focus (or county).
d. Actual sales in Retail in your state.
e. State per capita income.
f. City of focus (or County) per capita income.
TAC formula.PNG (See attached)
TAC= Local Sales in Sector J/ [State Sales Per capita in Sector J x (Local Per capita Income/State Per Capita Income)]
“local” means community or county of focus
Retail Pull Factor
PF= TAC (calculated above)/local pop.
THEN, after calculating TAC and PF for retail trade, you will do the same thing for a different economic sector (X) of your choice, aligned with your final project topic:
TRADE AREA CAPTURE for sector X
PULL FACTOR for sector X
Tip: If you cannot find data for your community of focus, use the county data.
If you are analyzing a community larger than 2,500 people, you may be able to obtain up-to-date sales information from local/county sources. Sales tax data can also be used in TAC formula. This can be obtained from the appropriate state agency.
Usually, i go direct to Economic census for sales data (it is easier to find it, although not current- this information is published every five years): https://www.census.gov/programs-surveys/economic-census/news-updates/releases.html