What “Growing Industry” Means
Economic development is the effort to expand a place’s productive activity: more businesses, more jobs, more investment. The phrase “growing industries” refers to sectors where employment or output is rising over time. Sectors can grow in different ways: more workers, higher wages, more buildings or larger revenue. They do not always grow together.
This article describes the sectors most often associated with local economic activity in Camden. It avoids naming private companies, giving employment counts or promising future growth, because the details change and a sector’s prospects are uncertain. For current numbers, see the Bureau of Labor Statistics, the Census Bureau and the New Jersey Department of Labor and Workforce Development.
Health Care
Health care is commonly cited as a durable source of employment in cities with hospitals and medical schools, and Camden has long had both. Demand tends to be steady, because people need care regardless of the economic cycle, and an aging population generally increases the need for services. The jobs vary widely: physicians and nurses, technicians, therapists, home health aides, billing and records staff, food service, security and maintenance workers.
Hospitals and clinics also connect to training. Colleges offer certificates and degrees for health occupations, and some employers provide advancement ladders. At the same time, health care is subject to changes in insurance rules, government funding and consolidation of providers, so no one should treat its growth as guaranteed.
Education and Research
Schools, colleges and universities are major employers and sources of activity. Higher education brings students, faculty and staff, who spend money locally, and some institutions pursue research and partnerships with businesses. The general landscape of institutions is covered in the overview of the education system, and the types of institutions in the guide to regional colleges.
Education institutions are also often tax-exempt, which is part of the reason a city with many such institutions can still face a limited tax base. Both facts are true: they provide jobs and stability, and they do not contribute property taxes in the usual way.
Logistics, Freight and Transportation
Camden’s position on the river and its highway and rail connections have kept freight and distribution relevant. Warehousing, trucking, port operations and related services draw on the regional transportation network. The place of port facilities in local history is described separately, and the Delaware River as a working waterway is covered elsewhere on this site.
Logistics jobs vary in pay and skill requirements, and technology is changing how the work is done. Large facilities also bring truck traffic and environmental concerns, which communities sometimes debate.
Construction and Real Estate
Public and private projects, including waterfront and downtown development, produce construction work for trades. Construction employment rises and falls with financing and market conditions, and a boom can be followed by a pause. Building also creates demand for architects, engineers, inspectors and suppliers. Preparing former industrial sites is addressed under brownfield redevelopment.
Offices, Finance and Professional Services
Some employers have located administrative or corporate offices in the city in recent years, often with state incentives. Office employment can bring higher-wage jobs, though whether those jobs are held by city residents depends on training and hiring, a topic explored in the article on economic revitalization. The incentive programs and the debates over them are explained in the article on attracting businesses.
Food, Hospitality, Arts and Visitors
Restaurants, entertainment venues, arts organizations and visitor attractions form another set of activity, centered on the waterfront and downtown. Their size relative to other sectors is modest, and jobs tend to be more varied in hours and pay. For descriptions of what is available for visitors, see the material on visitor attractions and the entertainment scene.
Small Businesses
Across all of these sectors are small firms, from contractors to shops and service providers. They typically account for a share of employment even if individual employers are small. The resources and challenges are explained in the articles on small business opportunities and small business owners.
Why Sector Growth Is Not the Same as Broad Prosperity
Several cautions apply when reading about growing industries.
- Growth can be small or uneven. A fast percentage increase from a small base may add few jobs.
- Jobs differ in quality. Wages, benefits, schedules and stability vary within a sector.
- Location of work and residence differ. Growth in jobs within the city does not guarantee growth in jobs for residents.
- Relocation is not creation. If a firm moves from a nearby town into the city, local jobs may rise but regional jobs do not.
- Cycles and shocks. Recessions, policy changes and technology can reverse trends quickly.
- Incentives can distort the picture. Growth that depends on tax credits may be less durable if incentives end.
Reading the Data Yourself
To check a claim about a growing industry, look for the definition of the industry, the geographic area (city, county or metropolitan area), the time period and the type of measure (jobs, payroll or output). Sources such as the Bureau of Labor Statistics’ industry data and the Census Bureau’s business surveys are widely used, though small-area data may be limited. The broader discussion of the economy and its challenges is in the article on economic challenges.