Economic Diversity/Hachman Index
When a well-diversified reference region is used for analysis, such as the U.S. economy, the Hachman Index measures economic diversity among subject regions, such as county or state economies. The Gardner Institute uses economic indicators such as gross domestic product (GDP) and employment to measure the mix of industries present in counties and states. The Hachman Index allows for county and state comparisons of economic diversity.
Hachman Index of Economic Diversity, 2021
The Hachman Index measures economic diversity. Using indicators such as gross domestic product (GDP) or employment, the index measures the mix of industries present in a particular region relative to a (well-diversified) reference region.
Measuring Economic Diversity: The Hachman Index, 2018
Utah is a leader among U.S. states for industrial diversity. A Hachman Index analysis using 2018 GDP data from the Bureau of Economic Analysis and aggregated to the two-digit NAICS code, reveals that Utah’s industrial distribution is very similar to that of the United States.
Measuring Economic Diversity: The Hachman Index, 2017
The Hachman Index is a measure of economic diversity. Using indicators such as gross domestic product (GDP) or employment, the index measures the mix of industries present in a particular region relative to a (well-diversified) reference region. Hachman Index scores are normalized from 0 to 100.