What is another name for the basic sector in the local economy?

The basic sector of a local economy refers to industries that bring in revenue from outside the local area, providing income that supports the local economy. This typically includes industries like manufacturing and exports that contribute to economic growth by selling goods or services beyond the local market.

The term "non-local sector" accurately describes this aspect because it emphasizes the section of the economy that is involved in operations or transactions that transcend local markets. This sector is crucial as it generates external income that sustains local jobs and services.

In contrast, other terms like "local sector," "export sector," and "non-basic sector" do not appropriately capture the defining characteristic of this sector being focused on external revenue generation. The local sector typically includes services and businesses catering primarily to the residents within the area, while the non-basic sector pertains to local services that do not attract outside revenue. Therefore, recognizing the basic sector as the non-local sector aligns with the taxable economic activities that maintain the financial health of the area.