How does the difference between SIC and NAICS affect the measurement of the Ocean and Coastal Economies?
The NAICS classification provides greater precision in the definition of a number of industries than the SIC. As a result the Ocean Economy definitions under NAICS are able to exclude many establishments with no, or questionable, connection to the ocean. The NAICS estimates tend to be somewhat smaller than SIC estimates as a result. Both NAICS- and SIC-based definitions of the Ocean Economy are provided for each state (except Massachusetts) in 2001 so that users can compare the two systems. For more information, see NAICS and Ocean Industries of the User Guide.
Related Questions
- How does the difference between SIC and NAICS affect the measurement of the Ocean and Coastal Economies?
- What are the strengths and weaknesses of the NOEP method for defining the Ocean and Coastal Economies?
- How will the change from SIC to NAICS affect federal contracting opportunities for small businesses?
