An Economic Base Analysis of Virginia in 2012 and 2017
Department or Program
College of Arts and Sciences
Faculty Mentor #1
Our project uses a location quotient technique and OLS regression to identify the job sectors which provide an economic base for the state of Virginia. A comparison of the bases in 2012 and 2017 reveal that Virginia’s economy has grown more reliant on Professional and Scientific, Public Administration, and Social Security recipients. Through our regression, we can also estimate the relative importance of each of the basic jobs identified through the location quotient technique.