What Happened to the SIC Code System?
The Standard Industrial Classification (SIC) has been replaced by the North American Industry Classification System (NAICS pronounced Nakes). The SIC system was established in the 1930s to promote uniformity and comparability of data collected and published by agencies within the U.S. government, state agencies, trade associations, and research organizations. It was developed as an establishment based industry classification system that classified each establishment (defined as a single physical location at which economic activity occurs) according to its primary activity. The SIC covered the entire field of economic activities by defining industries in accordance with the composition and structure of the economy. Since the 1930s, the SIC has been revised periodically to reflect changes in the economic structure of the United States. New industries were added and small, declining industries deleted or combined with other activities. However, the overall structure of the SIC remained es
