Occupation and Industry in Broomfield, Colorado - Paper Example

In the examination of the neighborhood of Broomfield, Colorado, it is factual that the main occupations and industry in the area are retail sales, hotel industry, secretarial jobs, administrative assistance and medical and legal sectors. In this manner, the main industries in Broomfield are food manufacturing and processing companies, and factories dealing with household products. Occupations that have the highest number of employees are such as sales and marketing, food preparation and hotel industry, secretarial jobs, and accounting and auditing. Other occupations that record high numbers of employees are such as medical profession and front office services.

Median Family Income

On the other hand, the median family income in Broomfield, Colorado is 80,430 and this tends to be lower as compared to various regions, and the same is attributed to the lower business activities in the area. Additionally, industrialization is slightly lower in the area leading to low levels of employment hence slow flow of money (Bureau, 2014). With the low number of business activities, there is low rate of business transactions hence less flow of money. The cost of the living, on the other end, tends to be lower with low costs of rental houses and household products that residents use on daily basis.

Percent of Families below the Poverty Level for Your Census Tract

Poverty level in Broomfield, Colorado is high as the poverty rate is at 6.52 percent (Bureau, 2014). In this manner, the data changes my understanding of my hometown in various ways one of them is that it helps me to understand how the business activities in my hometown affects the economy of the city and the economies of neighboring regions and that of the state as a whole. The data has helped me to understand trends in the growth rate of my hometown and factors that affects its growth and development.

Question Two

Is Your Area Similar to or Different from Beverly Hills?

By comparing my area with that of Beverly Hills, there are various notable differences. The first difference is that my hometown, Broomfield, is less industrialized with much less investment put forth therein and the main economic boosters are businesses and less industries. In this manner, occupations that support the area are businesses and blue-collar employment sector as opposed to Beverly Hills which depend majorly on corporate firms and services. Beverly Hills economy depends on trade such as bonds and securities, additionally, the residential sector and the hotel and hospitality industry play a crucial role in the economy of the area.

Why Do You Think This is?

There are glaring differences between Broomfield and Beverly Hills in that there are numerous investments in Beverly Hills as compared to Broomfield. Although there are a lot of businesses and business activities Broomfield, businessmen rarely invest in Broomfield but other parts of the country thereby taking money from the hometown. On the other hand, Beverly Hills receives a lot of money through investments thereby boosting economic developments hence making it one of the most developed regions in the United States. One glaring difference is that Beverly Hills has no median family income while Broomfield has a median family income of 80,430 (Bureau, 2014).

In What Ways Does the Empirical Data Contradict Popular Wisdom About Beverly Hills?

The empirical data available contradict popular wisdom that there are people living below the poverty level in Beverly Hills. On the contract, the data proves that the 15.3 percent of the population live below 100 percent of the poverty level. Additionally, 4.1 percent of the population have a poverty status of between 100 to 149 percent (Bureau, 2014). It is 80.6 percent of the population that have poverty status of more than 150 percent

Reference

Bureau, U. S. (2014). Census. 2012.American FactFinder-Results.. Race Reporting for the American Indian and Alaska Native Population by Selected Tribes: 2010.