{
  "@context": "https://schema.org",
  "@type": "Dataset",
  "@id": "https://yourexitpath.com/silver-tsunami#dataset",
  "name": "Silver Tsunami — U.S. State Business Ownership by Age",
  "description": "State-level dataset covering the 50 U.S. states plus the District of Columbia. Includes total employer firms (Census SUSB 2022), percent of firms owned by owners 55+ and 65+ (Census ABS 2022 where directly measured, otherwise interpolated from Census population age × ABS national correlation), and estimated trapped-wealth ranges derived from a 35% market-transition rate applied to Main Street enterprise values of $250K-$750K.",
  "url": "https://yourexitpath.com/silver-tsunami",
  "version": "1.0.0",
  "datePublished": "2026-09-05",
  "dateModified": "2026-09-05",
  "isAccessibleForFree": true,
  "license": "https://creativecommons.org/licenses/by/4.0/",
  "keywords": [
    "silver tsunami",
    "baby boomer businesses",
    "business ownership by age",
    "business succession",
    "main street business exit",
    "trapped wealth",
    "US census business demographics",
    "SUSB",
    "ABS annual business survey"
  ],
  "spatialCoverage": {
    "@type": "Place",
    "name": "United States (50 states + District of Columbia)"
  },
  "temporalCoverage": "2022-01-01/2026-09-30",
  "creator": {
    "@type": "Organization",
    "name": "Your Exit Path (yourexitpath.com)",
    "url": "https://yourexitpath.com/silver-tsunami"
  },
  "publisher": {
    "@type": "Organization",
    "name": "Your Exit Path (yourexitpath.com)",
    "url": "https://yourexitpath.com/silver-tsunami"
  },
  "methodology": "State-level counts of businesses with paid employees come directly from U.S. Census Bureau Statistics of U.S. Businesses (SUSB) 2022. Owner age distribution reflects U.S. Census Bureau Annual Business Survey (ABS) 2022; states where ABS publishes direct state-level breakouts use those values, others are interpolated from Census population age × owner-age correlation and flagged via `interpolatedAge`. Trapped-wealth figures are RANGES computed as boomer-owned firms × 35% transition rate × $250K–$750K typical Main Street enterprise value. Point estimates are deliberately avoided.",
  "citation": "Silver Tsunami State Business Ownership Dataset (Your Exit Path, 2026). Retrieved from https://yourexitpath.com/silver-tsunami. Licensed CC BY 4.0.",
  "constants": {
    "transitionRate": 0.35,
    "avgExitValueLow": 250000,
    "avgExitValueHigh": 750000
  },
  "totals": {
    "totalEmployerFirms": 7272000,
    "boomerOwnedFirms": 3668900,
    "boomerOwnedPercent": 50.5,
    "trappedWealthLowMillions": 321000,
    "trappedWealthHighMillions": 962700,
    "trappedWealthLowBillions": 321,
    "trappedWealthHighBillions": 963,
    "stateCount": 51,
    "interpolatedStateCount": 29,
    "directStateCount": 22
  },
  "sources": [
    {
      "key": "susb-2022",
      "name": "Statistics of U.S. Businesses (SUSB), 2022",
      "publisher": "U.S. Census Bureau",
      "url": "https://www.census.gov/programs-surveys/susb.html",
      "release": "2022 (published 2024)",
      "description": "Annual tabulation of employer businesses by state, industry (NAICS), and employment size class. Primary source for `totalEmployerFirms`."
    },
    {
      "key": "abs-2022",
      "name": "Annual Business Survey (ABS), 2022",
      "publisher": "U.S. Census Bureau",
      "url": "https://www.census.gov/programs-surveys/abs.html",
      "release": "2022 reference year (published 2024)",
      "description": "Owner-level demographics of employer businesses — including age, race, ethnicity, and veteran status. Primary source for `boomerOwnedPercent` and `seniorOwnedPercent`."
    },
    {
      "key": "cbp-2022",
      "name": "County Business Patterns (CBP), 2022",
      "publisher": "U.S. Census Bureau",
      "url": "https://www.census.gov/programs-surveys/cbp.html",
      "release": "2022 reference year (published 2024)",
      "description": "County- and state-level counts of establishments by NAICS. Used to identify the top Main Street industry per state."
    },
    {
      "key": "epi",
      "name": "State of Owner Readiness",
      "publisher": "Exit Planning Institute",
      "url": "https://exit-planning-institute.org/state-of-owner-readiness/",
      "release": "Longitudinal survey, most recent 2023 wave",
      "description": "Owner-transition intent, timeline, and successor preferences. Source for the 35% market-transition rate applied to boomer-owned firms."
    },
    {
      "key": "ibba",
      "name": "Market Pulse (quarterly)",
      "publisher": "International Business Brokers Association",
      "url": "https://www.ibba.org/resource-center/industry-research/",
      "release": "Quarterly, 2025–2026",
      "description": "Practitioner survey of transacted Main Street multiples and terms. Source for the $250K–$750K typical enterprise-value range."
    },
    {
      "key": "bizbuysell",
      "name": "Insight Report (quarterly)",
      "publisher": "BizBuySell",
      "url": "https://www.bizbuysell.com/insight-report/",
      "release": "Quarterly, 2025–2026",
      "description": "Median sale price + revenue + cash flow across BizBuySell listings and closings. Cross-reference for the enterprise-value range."
    }
  ],
  "columns": [
    {
      "name": "stateCode",
      "type": "string",
      "description": "USPS two-letter state code (ISO-3166-2 subdivision)."
    },
    {
      "name": "stateName",
      "type": "string",
      "description": "Human-readable state name."
    },
    {
      "name": "region",
      "type": "string",
      "description": "Census 4-region grouping (Northeast / South / Midwest / West)."
    },
    {
      "name": "totalEmployerFirms",
      "type": "integer",
      "description": "Businesses with at least one paid employee (Census SUSB 2022). Rounded to the nearest 1,000."
    },
    {
      "name": "boomerOwnedPercent",
      "type": "number",
      "description": "Percent of employer firms owned by someone age 55 or older. ABS 2022 direct measurement where available; interpolated from Census population age otherwise."
    },
    {
      "name": "seniorOwnedPercent",
      "type": "number",
      "description": "Percent of employer firms owned by someone age 65 or older. Same sourcing convention as boomerOwnedPercent."
    },
    {
      "name": "interpolatedAge",
      "type": "boolean",
      "description": "True when the owner-age percent is interpolated from Census population data rather than measured directly by ABS."
    },
    {
      "name": "boomerOwnedFirms",
      "type": "integer",
      "description": "Derived: totalEmployerFirms × boomerOwnedPercent / 100. Rounded to the nearest 100."
    },
    {
      "name": "trappedWealthLowMillions",
      "type": "integer",
      "description": "Lower bound (in USD millions) of the estimated trapped-wealth range. Formula: boomerOwnedFirms × TRANSITION_RATE × AVG_EXIT_VALUE_LOW."
    },
    {
      "name": "trappedWealthHighMillions",
      "type": "integer",
      "description": "Upper bound (in USD millions) of the estimated trapped-wealth range. Formula: boomerOwnedFirms × TRANSITION_RATE × AVG_EXIT_VALUE_HIGH."
    },
    {
      "name": "topIndustry",
      "type": "string",
      "description": "The Main Street industry with the largest concentration of boomer-owned firms in the state (Census CBP 2022)."
    },
    {
      "name": "sources",
      "type": "string[]",
      "description": "Primary source keys most directly covering this row. Cross-reference `sources` at the top of the payload."
    }
  ],
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      "encodingFormat": "text/csv",
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  ],
  "recordCount": 51,
  "data": [
    {
      "stateCode": "CT",
      "stateName": "Connecticut",
      "region": "Northeast",
      "totalEmployerFirms": 85000,
      "boomerOwnedPercent": 52,
      "seniorOwnedPercent": 26.5,
      "interpolatedAge": false,
      "boomerOwnedFirms": 44200,
      "trappedWealthLowMillions": 3900,
      "trappedWealthHighMillions": 11600,
      "topIndustry": "Professional, scientific & technical services",
      "sources": [
        "susb-2022",
        "abs-2022",
        "cbp-2022",
        "epi",
        "ibba",
        "bizbuysell"
      ]
    },
    {
      "stateCode": "ME",
      "stateName": "Maine",
      "region": "Northeast",
      "totalEmployerFirms": 40000,
      "boomerOwnedPercent": 57,
      "seniorOwnedPercent": 32,
      "interpolatedAge": true,
      "boomerOwnedFirms": 22800,
      "trappedWealthLowMillions": 2000,
      "trappedWealthHighMillions": 6000,
      "topIndustry": "Construction & home services",
      "sources": [
        "susb-2022",
        "cbp-2022",
        "epi",
        "ibba",
        "bizbuysell"
      ]
    },
    {
      "stateCode": "MA",
      "stateName": "Massachusetts",
      "region": "Northeast",
      "totalEmployerFirms": 165000,
      "boomerOwnedPercent": 50,
      "seniorOwnedPercent": 25,
      "interpolatedAge": false,
      "boomerOwnedFirms": 82500,
      "trappedWealthLowMillions": 7200,
      "trappedWealthHighMillions": 21700,
      "topIndustry": "Professional, scientific & technical services",
      "sources": [
        "susb-2022",
        "abs-2022",
        "cbp-2022",
        "epi",
        "ibba",
        "bizbuysell"
      ]
    },
    {
      "stateCode": "NH",
      "stateName": "New Hampshire",
      "region": "Northeast",
      "totalEmployerFirms": 40000,
      "boomerOwnedPercent": 53,
      "seniorOwnedPercent": 28,
      "interpolatedAge": true,
      "boomerOwnedFirms": 21200,
      "trappedWealthLowMillions": 1900,
      "trappedWealthHighMillions": 5600,
      "topIndustry": "Retail trade",
      "sources": [
        "susb-2022",
        "cbp-2022",
        "epi",
        "ibba",
        "bizbuysell"
      ]
    },
    {
      "stateCode": "NJ",
      "stateName": "New Jersey",
      "region": "Northeast",
      "totalEmployerFirms": 220000,
      "boomerOwnedPercent": 52,
      "seniorOwnedPercent": 26,
      "interpolatedAge": false,
      "boomerOwnedFirms": 114400,
      "trappedWealthLowMillions": 10000,
      "trappedWealthHighMillions": 30000,
      "topIndustry": "Wholesale trade",
      "sources": [
        "susb-2022",
        "abs-2022",
        "cbp-2022",
        "epi",
        "ibba",
        "bizbuysell"
      ]
    },
    {
      "stateCode": "NY",
      "stateName": "New York",
      "region": "Northeast",
      "totalEmployerFirms": 500000,
      "boomerOwnedPercent": 51,
      "seniorOwnedPercent": 24.5,
      "interpolatedAge": false,
      "boomerOwnedFirms": 255000,
      "trappedWealthLowMillions": 22300,
      "trappedWealthHighMillions": 66900,
      "topIndustry": "Professional, scientific & technical services",
      "sources": [
        "susb-2022",
        "abs-2022",
        "cbp-2022",
        "epi",
        "ibba",
        "bizbuysell"
      ]
    },
    {
      "stateCode": "PA",
      "stateName": "Pennsylvania",
      "region": "Northeast",
      "totalEmployerFirms": 260000,
      "boomerOwnedPercent": 54,
      "seniorOwnedPercent": 27.5,
      "interpolatedAge": false,
      "boomerOwnedFirms": 140400,
      "trappedWealthLowMillions": 12300,
      "trappedWealthHighMillions": 36900,
      "topIndustry": "Health care & social assistance",
      "sources": [
        "susb-2022",
        "abs-2022",
        "cbp-2022",
        "epi",
        "ibba",
        "bizbuysell"
      ]
    },
    {
      "stateCode": "RI",
      "stateName": "Rhode Island",
      "region": "Northeast",
      "totalEmployerFirms": 30000,
      "boomerOwnedPercent": 52,
      "seniorOwnedPercent": 26.5,
      "interpolatedAge": true,
      "boomerOwnedFirms": 15600,
      "trappedWealthLowMillions": 1400,
      "trappedWealthHighMillions": 4100,
      "topIndustry": "Retail trade",
      "sources": [
        "susb-2022",
        "cbp-2022",
        "epi",
        "ibba",
        "bizbuysell"
      ]
    },
    {
      "stateCode": "VT",
      "stateName": "Vermont",
      "region": "Northeast",
      "totalEmployerFirms": 22000,
      "boomerOwnedPercent": 55,
      "seniorOwnedPercent": 30,
      "interpolatedAge": true,
      "boomerOwnedFirms": 12100,
      "trappedWealthLowMillions": 1100,
      "trappedWealthHighMillions": 3200,
      "topIndustry": "Construction & home services",
      "sources": [
        "susb-2022",
        "cbp-2022",
        "epi",
        "ibba",
        "bizbuysell"
      ]
    },
    {
      "stateCode": "IL",
      "stateName": "Illinois",
      "region": "Midwest",
      "totalEmployerFirms": 275000,
      "boomerOwnedPercent": 51,
      "seniorOwnedPercent": 25,
      "interpolatedAge": false,
      "boomerOwnedFirms": 140300,
      "trappedWealthLowMillions": 12300,
      "trappedWealthHighMillions": 36800,
      "topIndustry": "Manufacturing",
      "sources": [
        "susb-2022",
        "abs-2022",
        "cbp-2022",
        "epi",
        "ibba",
        "bizbuysell"
      ]
    },
    {
      "stateCode": "IN",
      "stateName": "Indiana",
      "region": "Midwest",
      "totalEmployerFirms": 130000,
      "boomerOwnedPercent": 52,
      "seniorOwnedPercent": 26.5,
      "interpolatedAge": true,
      "boomerOwnedFirms": 67600,
      "trappedWealthLowMillions": 5900,
      "trappedWealthHighMillions": 17700,
      "topIndustry": "Manufacturing",
      "sources": [
        "susb-2022",
        "cbp-2022",
        "epi",
        "ibba",
        "bizbuysell"
      ]
    },
    {
      "stateCode": "IA",
      "stateName": "Iowa",
      "region": "Midwest",
      "totalEmployerFirms": 80000,
      "boomerOwnedPercent": 54,
      "seniorOwnedPercent": 28.5,
      "interpolatedAge": true,
      "boomerOwnedFirms": 43200,
      "trappedWealthLowMillions": 3800,
      "trappedWealthHighMillions": 11300,
      "topIndustry": "Agriculture & related trades",
      "sources": [
        "susb-2022",
        "cbp-2022",
        "epi",
        "ibba",
        "bizbuysell"
      ]
    },
    {
      "stateCode": "KS",
      "stateName": "Kansas",
      "region": "Midwest",
      "totalEmployerFirms": 65000,
      "boomerOwnedPercent": 53,
      "seniorOwnedPercent": 27.5,
      "interpolatedAge": true,
      "boomerOwnedFirms": 34500,
      "trappedWealthLowMillions": 3000,
      "trappedWealthHighMillions": 9100,
      "topIndustry": "Wholesale trade",
      "sources": [
        "susb-2022",
        "cbp-2022",
        "epi",
        "ibba",
        "bizbuysell"
      ]
    },
    {
      "stateCode": "MI",
      "stateName": "Michigan",
      "region": "Midwest",
      "totalEmployerFirms": 190000,
      "boomerOwnedPercent": 52,
      "seniorOwnedPercent": 26,
      "interpolatedAge": false,
      "boomerOwnedFirms": 98800,
      "trappedWealthLowMillions": 8600,
      "trappedWealthHighMillions": 25900,
      "topIndustry": "Manufacturing",
      "sources": [
        "susb-2022",
        "abs-2022",
        "cbp-2022",
        "epi",
        "ibba",
        "bizbuysell"
      ]
    },
    {
      "stateCode": "MN",
      "stateName": "Minnesota",
      "region": "Midwest",
      "totalEmployerFirms": 130000,
      "boomerOwnedPercent": 50,
      "seniorOwnedPercent": 24.5,
      "interpolatedAge": false,
      "boomerOwnedFirms": 65000,
      "trappedWealthLowMillions": 5700,
      "trappedWealthHighMillions": 17100,
      "topIndustry": "Health care & social assistance",
      "sources": [
        "susb-2022",
        "abs-2022",
        "cbp-2022",
        "epi",
        "ibba",
        "bizbuysell"
      ]
    },
    {
      "stateCode": "MO",
      "stateName": "Missouri",
      "region": "Midwest",
      "totalEmployerFirms": 130000,
      "boomerOwnedPercent": 52.5,
      "seniorOwnedPercent": 26.5,
      "interpolatedAge": true,
      "boomerOwnedFirms": 68300,
      "trappedWealthLowMillions": 6000,
      "trappedWealthHighMillions": 17900,
      "topIndustry": "Health care & social assistance",
      "sources": [
        "susb-2022",
        "cbp-2022",
        "epi",
        "ibba",
        "bizbuysell"
      ]
    },
    {
      "stateCode": "NE",
      "stateName": "Nebraska",
      "region": "Midwest",
      "totalEmployerFirms": 50000,
      "boomerOwnedPercent": 53,
      "seniorOwnedPercent": 27.5,
      "interpolatedAge": true,
      "boomerOwnedFirms": 26500,
      "trappedWealthLowMillions": 2300,
      "trappedWealthHighMillions": 7000,
      "topIndustry": "Agriculture & related trades",
      "sources": [
        "susb-2022",
        "cbp-2022",
        "epi",
        "ibba",
        "bizbuysell"
      ]
    },
    {
      "stateCode": "ND",
      "stateName": "North Dakota",
      "region": "Midwest",
      "totalEmployerFirms": 20000,
      "boomerOwnedPercent": 52,
      "seniorOwnedPercent": 27,
      "interpolatedAge": true,
      "boomerOwnedFirms": 10400,
      "trappedWealthLowMillions": 900,
      "trappedWealthHighMillions": 2700,
      "topIndustry": "Agriculture & related trades",
      "sources": [
        "susb-2022",
        "cbp-2022",
        "epi",
        "ibba",
        "bizbuysell"
      ]
    },
    {
      "stateCode": "OH",
      "stateName": "Ohio",
      "region": "Midwest",
      "totalEmployerFirms": 220000,
      "boomerOwnedPercent": 53,
      "seniorOwnedPercent": 27,
      "interpolatedAge": false,
      "boomerOwnedFirms": 116600,
      "trappedWealthLowMillions": 10200,
      "trappedWealthHighMillions": 30600,
      "topIndustry": "Manufacturing",
      "sources": [
        "susb-2022",
        "abs-2022",
        "cbp-2022",
        "epi",
        "ibba",
        "bizbuysell"
      ]
    },
    {
      "stateCode": "SD",
      "stateName": "South Dakota",
      "region": "Midwest",
      "totalEmployerFirms": 25000,
      "boomerOwnedPercent": 53.5,
      "seniorOwnedPercent": 28,
      "interpolatedAge": true,
      "boomerOwnedFirms": 13400,
      "trappedWealthLowMillions": 1200,
      "trappedWealthHighMillions": 3500,
      "topIndustry": "Agriculture & related trades",
      "sources": [
        "susb-2022",
        "cbp-2022",
        "epi",
        "ibba",
        "bizbuysell"
      ]
    },
    {
      "stateCode": "WI",
      "stateName": "Wisconsin",
      "region": "Midwest",
      "totalEmployerFirms": 130000,
      "boomerOwnedPercent": 52.5,
      "seniorOwnedPercent": 27,
      "interpolatedAge": false,
      "boomerOwnedFirms": 68300,
      "trappedWealthLowMillions": 6000,
      "trappedWealthHighMillions": 17900,
      "topIndustry": "Manufacturing",
      "sources": [
        "susb-2022",
        "abs-2022",
        "cbp-2022",
        "epi",
        "ibba",
        "bizbuysell"
      ]
    },
    {
      "stateCode": "AL",
      "stateName": "Alabama",
      "region": "South",
      "totalEmployerFirms": 90000,
      "boomerOwnedPercent": 51,
      "seniorOwnedPercent": 25.5,
      "interpolatedAge": true,
      "boomerOwnedFirms": 45900,
      "trappedWealthLowMillions": 4000,
      "trappedWealthHighMillions": 12000,
      "topIndustry": "Retail trade",
      "sources": [
        "susb-2022",
        "cbp-2022",
        "epi",
        "ibba",
        "bizbuysell"
      ]
    },
    {
      "stateCode": "AR",
      "stateName": "Arkansas",
      "region": "South",
      "totalEmployerFirms": 60000,
      "boomerOwnedPercent": 51.5,
      "seniorOwnedPercent": 26,
      "interpolatedAge": true,
      "boomerOwnedFirms": 30900,
      "trappedWealthLowMillions": 2700,
      "trappedWealthHighMillions": 8100,
      "topIndustry": "Retail trade",
      "sources": [
        "susb-2022",
        "cbp-2022",
        "epi",
        "ibba",
        "bizbuysell"
      ]
    },
    {
      "stateCode": "DE",
      "stateName": "Delaware",
      "region": "South",
      "totalEmployerFirms": 25000,
      "boomerOwnedPercent": 52,
      "seniorOwnedPercent": 26.5,
      "interpolatedAge": true,
      "boomerOwnedFirms": 13000,
      "trappedWealthLowMillions": 1100,
      "trappedWealthHighMillions": 3400,
      "topIndustry": "Retail trade",
      "sources": [
        "susb-2022",
        "cbp-2022",
        "epi",
        "ibba",
        "bizbuysell"
      ]
    },
    {
      "stateCode": "DC",
      "stateName": "District of Columbia",
      "region": "South",
      "totalEmployerFirms": 25000,
      "boomerOwnedPercent": 41,
      "seniorOwnedPercent": 17,
      "interpolatedAge": true,
      "boomerOwnedFirms": 10300,
      "trappedWealthLowMillions": 900,
      "trappedWealthHighMillions": 2700,
      "topIndustry": "Professional, scientific & technical services",
      "sources": [
        "susb-2022",
        "cbp-2022",
        "epi",
        "ibba",
        "bizbuysell"
      ]
    },
    {
      "stateCode": "FL",
      "stateName": "Florida",
      "region": "South",
      "totalEmployerFirms": 555000,
      "boomerOwnedPercent": 55,
      "seniorOwnedPercent": 30,
      "interpolatedAge": false,
      "boomerOwnedFirms": 305300,
      "trappedWealthLowMillions": 26700,
      "trappedWealthHighMillions": 80100,
      "topIndustry": "Real estate & rental services",
      "sources": [
        "susb-2022",
        "abs-2022",
        "cbp-2022",
        "epi",
        "ibba",
        "bizbuysell"
      ]
    },
    {
      "stateCode": "GA",
      "stateName": "Georgia",
      "region": "South",
      "totalEmployerFirms": 220000,
      "boomerOwnedPercent": 49,
      "seniorOwnedPercent": 23.5,
      "interpolatedAge": false,
      "boomerOwnedFirms": 107800,
      "trappedWealthLowMillions": 9400,
      "trappedWealthHighMillions": 28300,
      "topIndustry": "Retail trade",
      "sources": [
        "susb-2022",
        "abs-2022",
        "cbp-2022",
        "epi",
        "ibba",
        "bizbuysell"
      ]
    },
    {
      "stateCode": "KY",
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        "susb-2022",
        "cbp-2022",
        "epi",
        "ibba",
        "bizbuysell"
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      "stateCode": "LA",
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        "bizbuysell"
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        "susb-2022",
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      "stateCode": "MS",
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        "ibba",
        "bizbuysell"
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    {
      "stateCode": "NC",
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        "abs-2022",
        "cbp-2022",
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        "susb-2022",
        "cbp-2022",
        "epi",
        "ibba",
        "bizbuysell"
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      "stateCode": "SC",
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        "ibba",
        "bizbuysell"
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      "topIndustry": "Health care & social assistance",
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        "cbp-2022",
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        "abs-2022",
        "cbp-2022",
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        "cbp-2022",
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        "epi",
        "ibba",
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        "susb-2022",
        "abs-2022",
        "cbp-2022",
        "epi",
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        "cbp-2022",
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  ]
}