Primary-Sector Primer

 

A primary-sector business is one that brings new wealth into the community through the sales of its goods and services outside the trade area. The new wealth circulates and supports all other sectors of the local economy, thus making the primary sector the principal driver of economic and community growth. A growing primary sector ensures the health of the local economy and affects every other sector and every occupation in the community.

We tend to get asked why we aren’t working to bring a Trader Joe’s.

Simple answer?

They’re not a primary-sector business.

Let’s use Microsoft as an example. They are one of the region’s many primary-sector companies. A company doesn’t need to be as large as Microsoft. In fact, they could have two employees or 2,000. The key is how they sell and distribute goods.

A primary-sector company like Microsoft could be located anywhere in the world and still maintain the same customer base. If a grocery store moved it’s location from one state to another, it would need to find a new customer base.