The economic base can be thought of as being the engine that drives the economy of a community. It is the industry (or industries) that provides exports from the local area to the rest of the world. This is apparent for some regions: automobile manufacturing is an important part of the economic base of Detroit, technology plays a similar role for Silicon Valley and Seattle, finance is a fundamental driver in New York, and for Las Vegas—my hometown—tourism dominates.

A region’s economic base is determined by which of its sectors “export” goods or services to other parts of the country. Generally, traded sectors serve a customer base that extends beyond the local market, and…to continue later…