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California state employment service: 1884-1974.
With the exception of a few unique areas, the economy of a community is largely dependent on the industrial base. The average residential area cannot, through simple taxation of real properties, support the increasingly myriad demands of local governmental expenses. An additional tax base is necessary. The community which produces goods which are exported outside the immediate areas brings in new wealth which in turn increases its purchasing power and stability. This may be somewhat oversimplified by the statement: "As industrial growth goes, so goes the wealth of the community." Conversely, just as new industry stimulates growth, the loss of such firms negatively affects those communities. It is important, then, that a community not only pursue new industry but also identify and retain existing industry.