What are NAIC codes?
The United States Bureau of Labor Statistics uses the North American Industry Classification System (NAICS) to identify industries. The NAICS was developed jointly with Canada and Mexico to enable comparable statistics among the three North American Free Trade Agreement (NAFTA) countries. NAICS is a production-oriented classification system for business establishments (defined as a single physical location at which economic activity occurs) in which economic units that use like processes to produce goods or services are grouped together. This system was implemented in 1997 to replace the 1987 Standard Industrial Classification (SIC) system. The SIC system, developed in the 1930s, was the first attempt to establish a classification system that would allow for uniformity and comparability of data collected and published by all national and state government agencies, trade associations, and research organizations (www.census.gov). NAICS is a six-digit system designed so that the industria
Related Questions
- Does Virginia utilize the NAIC Codes or SIC Codes? If using NAIC Codes, are the NAIC Codes used Virginia state specific or from the 2002 National List?
- Our Company files on a basis other than codified SAP, however the NAIC blank is designed for SAP filing. What do I need to disclose in Note 1?
- How can I access historical NAIC Designations and/or prices for a security?
