How Are Naics Codes Assigned

How Are Naics Codes Assigned-71
NAICS was introduced in 1997 and is periodically revised to reflect changes in the industrial structure of the U. However, improved statistics will result in time series breaks.Every sector of the economy has been restructured and redefined.The United States, Canada and Mexico share the first five digits within the NAICS structure.

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In 109 industries (36 percent of the total), WOBs have statistically significant lower odds of winning contracts, covering 62 percent of contracts and nearly two-thirds of dollars obligated under contracts awarded in FY 2013 or 2014.

In an additional 145 (48 percent) of the 304 industries included in the study, the odds of WOBs winning contracts were lower than those of otherwise similar non-WOBs, but in these cases there is not a statistically significant difference between the odds of winning contracts for the two groups.

Overall, the industries in which WOBs are less likely to win contracts account for about 85 percent of contracts and of dollars obligated in Fiscal Years 2013-2014 (which is the period in which the data originated).

As a result, SBA has changed its rules with both a substantial increase (from 330 to 445) in the number of eligible NAICS codes, and a pronounced shift from assignments which heavily favored the EDWOSBs over the WOSBs to the reverse.

The section that implements the program, FAR 19.1505(a), references the “SBA-maintained NAICS list”; consequently, no change to the FAR is required to implement these changes, which are effective immediately (3/3/2016).

For over 60 years, the Standard Industrial Classification (SIC) system served as the structure for the collection, presentation, and analysis of the U. The SIC system was developed in the 1930s at a time when manufacturing dominated the U. Despite these revisions, the system received increasing criticism about its ability to handle rapid changes in the U. Developed in cooperation with Canada and Mexico, the North American Industry Classification System (NAICS) represents one of the most profound changes for statistical programs focusing on emerging economic activities.

The analysis was performed at the four-digit NAICS industry group level, including each firm in the sample in an industry analysis if the firm had registered as being able to perform work in that industry or if the firm had won a contract assigned to that industry.

The industry-specific results on the odds of winning contracts vary considerably.

Establishments using similar raw material inputs, similar capital equipment, and similar labor are classified in the same industry.

In other words, establishments that do similar things in similar ways are classified together. NAICS provides a tool to ensure that economic statistics reflect the changing economy.

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