Description: The North American Industry Classification System (NAICS pronounced Nakes) is a unique, all-new system for classifying business establishments. Adopted in 1997 to replace the old Standard Industrial Classification (SIC) system, it is the industry classification system used by the statistical agencies of the United States. It is the first economic classification system to be constructed based on a single economic concept. To learn more about the background, the development and the difference between NAICS and the SIC, visit the following Census website: http://www.census.gov/epcd/www/naicsdev.htm