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This sector is comprised of establishments that specialize in performing professional, scientific, and technical activities for others. These activities require a high degree of expertise and training. 
The establishments in this sector specialize according to expertise and provide these services to clients in a variety of industries. Activities performed include: legal advice and representation; accounting, bookkeeping, and payroll services; architectural, engineering, and specialized design services; computer services; consulting services; research services; advertising services; photographic services; translation and interpretation services; veterinary services; and other professional, scientific, and technical services.
Professional, scientific, and technical services industries typically pay well and require a high degree of experience and education. This single cluster in Richmond supports all of the other clusters. Demand across the spectrum of key Richmond clusters for more professional, scientific, and technical services will continue to grow. 
Attracting more of these professionals should be considered to be a key focus for economic development efforts. Richmond’s housing market – not as tight as elsewhere in the greater Houston area – and Richmond’s excellent schools are offerings that attract these professionals. Good housing values and strong schools are also a stronger advantage for Richmond than in many other parts of the area and Texas.

Twenty-eight industry sectors make up the professional, scientific, and technical services cluster in Richmond. See Table 2.3 (right) for the full list of industry sectors.


The professional, scientific, and technical services cluster accounted for 1,532 jobs in 2017, and is 1.8 times more concentrated in Richmond than would be expected based on national employment averages.
This offers considerable hope for economic development in Richmond, showing that it has a good foundation to encourage more intensity, density, and growth for this cluster.

Labor Market Gap Analysis
Table 2.4, left, lists the top 15 occupations in professional, scientific, and technical services. These occupations account for 53% of all cluster employment. TThe table also indicates the level of competition employers may face from industries outside the cluster when hiring for key occupations.
The occupations within the professional, scientific, and technical services cluster are either highly trained professionals or support positions. Support positions tend to earn around $15-hrrequire at least a high school education. Professional positions all tend to pay more than $30-hr and require a college education or beyond.

Supply Chain Analysis
Table 2.6 provides a picture about the total demand in Richmond by all Richmond residents and businesses for products made by companies in the professional, scientific, and technical services cluster—worth a total of nearly $355 million in the region.
In Table 2.6, we see that the companies in these sectors do not quite reach 25% of Richmond demand for their products, while Richmond imports the other 75% of its needs for these products. This would seem to indicate potential markets for local suppliers. Other industry sectors that could tap into the Richmond market include the following:

  • Computer System Design Services
  • Management Consulting Services
  • Environmental consulting Services
  • Interior Design Services
  • Media Representatives
  • Landscape Architectural Services
  • Title Abstract and Settlement Services
Summary
The professional, scientific, and technical services industry may be the single industry cluster that offers the most potential for economic development efforts. Professionals in this cluster expect a good housing market, good schools, local amenities, and a high quality of life. Further, this cluster supports all of the other targeted clusters with essential services and expertise.
Professional services full report PDF
Download the PDF to read the report on the Professional, Scientific, and Technical Services Industry.

Copyright 2016 - Richmond Economic Development Corporation