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SIC vs. NAICS

SIC vs. NAICS. Spring 2013. SICs & NAICS. SIC (Standard Industrial Classification) code NAICS (North American Industrial Classification System ) Numeric codes Group together companies in same industry. Two Numeric Code Systems. SIC Introduced late 1930s by US government

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SIC vs. NAICS

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  1. SIC vs. NAICS Spring 2013

  2. SICs & NAICS • SIC (Standard Industrial Classification) code • NAICS (North American Industrial Classification System) • Numeric codes • Group together companies in same industry

  3. Two Numeric Code Systems • SIC • Introduced late 1930s by US government • Promoted uniform data collection • Last revised late 1980s • NAICS • Introduced 1990s • Addresses new industries • More expansive/ more codes • Enables comparisons of similar companies

  4. Groups Together Companies in Same Primary Business Line • Starbucks SIC 2095 Roasted Coffee NAICS 311920 Coffee & Tea Manufacturing • Chock Full O’ Nuts SIC 2095 Roasted Coffee NAICS 311920 Coffee & Tea Manufacturing Useful for Comparisons

  5. NAICS Includes More Codes than SIC • No one-to-one translation. • Several “bridge” tables. • U.S. Census Bureau Table: • http://www.census.gov/epcd/www/naicstab.htm C.O. Holmes holmec@rpi.edu

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