November 18, 2014
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Welcome to the fifth issue of Sheridan's monthly economic development eNewsletter! This month, we're examining the healthcare target industry and sharing why this piece of our quality of life is also a driver for Sheridan's economy.

I encourage you to to others in the community who might find it useful and join the mailing list for future issues.

Welcome home, Sheridan!
- Mayor John Heath
Healthcare in Sheridan

Sheridan's Healthcare Industry encompasses a broad range of activities related to keeping our population healthy. Spanning both public and private sectors, this industry includes such activities as doctors offices, hospitals, medical diagnostics, nursing care facilities, Sheridan's VA Hospital and more. 

Healthcare  Subsectors
The Healthcare target industry is broken down into subsectors using the North American Industry Classification System (NAICS). This standardized system simplifies tracking and comparison of subsector performance against the same fields state and nationwide. The majority of Sheridan's Healthcare subsectors are projected to grow through 2017, with the largest growth predicted in physicians' offices and public hospitals.

Related Occupations
Sheridan employs over 1,500 positions in Healthcare-related occupations. More than half (55%) of these jobs are nurses and therapists, followed in number by medical technicians (29%). The importance of these occupations to Sheridan's economy is demonstrated by the fact that between 2007-2012, Sheridan outpaced national average growth. While the nation as a whole saw a 9% growth in these job fields, Sheridan experienced 17% growth.

Healthcare-related occupations are forecast to continue growing rapidly, adding another 173 jobs in Sheridan from 2012 to 2017. Of these jobs, the biggest additions will continue to be nurses and therapists (94 new jobs) and medical technicians (49 new jobs).

Regional Healthcare Hub

Sheridan serves as a regional healthcare hub, providing key medical services to more than 40,000 residents of surrounding counties. The status as regional hub is driven not just by the public hospital, but the additional outpatient occupations located in Sheridan which support the area's increasing demand for healthcare as the population grows and ages.


Complementing this role as a regional hub is Sheridan's VA Medical Center, a significant healthcare asset for the community that provides key services for veterans across the region. Sheridan's VA Medical Center serves more than 12,500 veterans annually.Given the importance of Sheridan's VA Medical Center, one of the strategies for this industry is to work with state and federal representatives to ensure the medical center is maintained.

Local Opportunities

One of the drivers of Sheridan's healthcare industry is the area's growing retirement community. Spurred by this growing segment of the population, the subsector with the largest projected percent growth through 2017 is Community Care Facilities for the Elderly.


Sheridan College's Nursing School is a significant asset to the local Healthcare industry. The school produces highly-skilled graduates each year, filling local jobs as well as exporting graduates to other communities.


The Healthcare sector supports entrepreneurial growth in other industries, including the target industries of Professional Services and Light Manufacturing. A recent example has been the growth of telemedicine. Software development for an incredibly successful telemedicine company for the region was developed in Sheridan, showcasing the the crossover between healthcare and other industries.

Foster New Growth, Retain Current Business
Recommended Approach
The Target Industry Study, prepared under the direction of the Sheridan Economic and Educational Development Authority (SEEDA), recommended the following ratios for balancing economic development efforts:
  • 50%- Retain: 
    Roughly half of economic development efforts should focus on retaining and growing existing businesses.
  • 20% - Recruit: 
    Given Sheridan's high quality of life, some additional efforts should seek to recruit established businesses/professionals to the Sheridan area.
  • 30% - Startup: 
    Additional effort should be applied to provide support for startups and entrepreneurs.
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