Key industry

Key industry

An industry that plays a critical role in a nation's economy.

Key Industry

An industry that is pivotal to the growth (or sometimes the survival) of an economy. Companies in a key industry are often major employers in an area and have a great deal of political power. For example, for much of its history until the 1980s, the economy of Oklahoma was very dependent on the oil and gas industry; it remained important even in the 2000s. For this reason, oil and gas may be considered a key industry in Oklahoma.