Every region must periodically assess its most important industries in order to ensure that policy priorities are aligned with the realities and needs of the region’s economy. However, determining which regional industries are important can be challenging, since the definition of “important” is not always agreed upon by regional stakeholders. To avoid resorting to multiple surveys or word-of-mouth evidence, hard data is a necessary component of this planning process. Quantitative methods are also much faster and cheaper than qualitative methods, and also less prone to be affected by political pressures.
Read the full document (PDF): Identifying Important Regional Industries