Why is NAICS Better?
The North American Industry Classification System (NAICS) is replacing the U.S. Standard Industrial Classification (SIC) system. NAICS will reshape the way we view our changing economy.
NAICS identifies hundreds of new, emerging, and advanced technology industries. And NAICS reorganizes industries into more meaningful sectors--especially in the service-producing segments of the economy.
NAICS was developed in cooperation with Statistics Canada and Mexico's INEGI. NAICS provides for comparable statistics among the three NAFTA trading partners.
NAICS defined industries according to a consistent principle: businesses that use similar production processes are grouped together.
NAICS will be reviewed every 5 years, so classifications and information keep up with our changing economy.
U.S. Census Bureau, last updated 3/30/98