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IMPLAN Blog

New IMPLAN Data Year Now Available (Plus Release Notes)!

December 6, 2018 by Jenny Thorvaldson

Data season has finally come to a close which means that the latest IMPLAN Data Year is now available! Here's what's new in this data release:

INCORPORATION OF STATE-LEVEL PCE DATA TO ADD REGIONAL SPECIFICITY TO HOUSEHOLD EXPENDITURES:

Data isn't the only thing that's new this year from IMPLAN—read all about the newest version of the IMPLAN application and see how economic impact analysis got a whole lot smarter.

The Bureau of Economics (BEA) recently developed a state-level personal consumption expenditures (PCE) data set. The state-level data do not have the same level of commodity detail as the national-level data and are one year lagged relative to the national-level-data (and IMPLAN data); therefore, the national-level data are used to split the state-level expenditure categories into more detailed expenditure categories and to project the state-level data to the current IMPLAN data year. Therefore, for each state, the values for the detailed expenditure categories (which are estimated using national ratios of each detailed expenditure as a proportion of its parent expenditure category) will sum to the state’s value for the parent category, thereby incorporating state-level information while retaining the necessary detail. The states’ values for each expenditure category are then forced to sum to the national value for that expenditure category, effectively projecting the state-level data to the current data year. Thus, we still rely heavily on the national-level data, while incorporating some state-level information.

While this change allows us to adhere more closely to state-level parent sector values (and state-level overall total values) from the BEA, which confers regional specificity, it is possible that in some cases the difference among states in parent category values could be due to just a few of the many detailed categories that make up that parent category rather than being a proportional difference among all of them, in which case using the national ratios to split the parent category value among the detailed categories will result in skewed values for the detailed categories. Thus, there could be a trade-off in some cases—the gain of a better sum of detailed categories while introducing inferior estimates of some individual detailed categories.   

INCORPORATION OF RECENT NIPA REVISIONS:

In July 2018, the BEA released the initial results of the 15th comprehensive, or benchmark, update of the National Income and Product Accounts (NIPAs), which occurs roughly every 5 years. Details can be found here: https://apps.bea.gov/scb/2018/04-april/0418-preview-2018-comprehensive-nipa-update.htm. These revisions have been incorporated into the 2017 IMPLAN data, so there may be some noticeable changes from previous years’ data sets. For example, the reclassification of payments by the Federal Reserve banks to the U.S. government as dividend payments rather than as tax payments will reduce the Federal government’s tax receipts but will increase its dividend receipts, both of which will be reflected in the IMPLAN SAM and will affect the tax impact report. Interest payments by State and Local governments have been revised upward, reflecting the higher imputed interest on plans’ claims on employers, which will be reflected in the IMPLAN SAM. In addition, the change in measurement of government benefit pension plans results in reduced government expense on labor, which has the effect of increasing government surplus.

MSA CHANGES

There have been changes to the composition of several Metropolitan Statistical Areas (MSAs), as defined by the U.S. Census Bureau. These changes affect our MSA data product.  More details can be found here: https://www.census.gov/geographies/reference-files/time-series/demo/metro-micro/delineation-files.html.

NEW MSAS:

  • Dayton-Kettering, OH
  • Poughkeepsie-Newburgh-Middletown, NY
  • Prescott Valley-Prescott, AZ
  • Twin Falls, ID
  • Yauco, PR

LOST MSAS:

  • Dayton, OH       
  • Prescott, AZ      

MSAS WITH NEW COUNTY COMPOSITIONS:

  • Albany, GA
  • Ames, IA
  • Baton Rouge, LA
  • Beaumont-Port Arthur, TX
  • Birmingham-Hoover, AL
  • Bismarck, ND
  • Blacksburg-Christiansburg-Radford, VA
  • Bloomington, IL
  • Carbondale-Marion, IL
  • Champaign-Urbana, IL
  • Charleston, WV
  • Charlotte-Concord-Gastonia, NC-SC
  • Charlottesville, VA
  • Cincinnati, OH-KY-IN
  • Clarksville, TN-KY
  • Columbia, MO
  • Columbus, GA-AL
  • Corpus Christi, TX
  • Dallas-Fort Worth-Arlington, TX
  • Des Moines-West Des Moines, IA
  • Duluth, MN-WI
  • Durham-Chapel Hill, NC
  • Fayetteville, NC
  • Fayetteville-Springdale-Rogers, AR-MO
  • Fort Wayne, IN
  • Gainesville, FL
  • Grand Island, NE
  • Gulfport-Biloxi-Pascagoula, MS
  • Hagerstown-Martinsburg, MD-WV
  • Hattiesburg, MS
  • Jackson, MS
  • Jackson, TN
  • Kalamazoo-Portage, MI
  • Knoxville, TN
  • Lafayette-West Lafayette, IN
  • Lansing-East Lansing, MI
  • Longview, TX
  • Louisville/Jefferson County, KY-IN
  • Manhattan, KS
  • Mayagüez, PR
  • Memphis, TN-MS-AR
  • Minneapolis-St. Paul-Bloomington, MN-WI
  • Mobile, AL
  • Monroe, LA
  • Morristown, TN
  • Nashville-Davidson--Murfreesboro--Franklin, TN
  • New York-Newark-Jersey City, NY-NJ-PA
  • Panama City, FL
  • Peoria, IL
  • Pocatello, ID
  • Ponce, PR
  • Rapid City, SD
  • San Angelo, TX
  • Shreveport-Bossier City, LA
  • Sioux City, IA-NE-SD
  • Spartanburg, SC
  • Spokane-Spokane Valley, WA
  • Springfield, MA
  • Sumter, SC
  • Terre Haute, IN
  • Toledo, OH
  • Tuscaloosa, AL
  • Virginia Beach-Norfolk-Newport News, VA-NC
  • Walla Walla, WA
  • Warner Robins, GA
  • Washington-Arlington-Alexandria, DC-VA-MD-WV
  • Wausau, WI
  • Wichita, KS

INCORPORATION OF NEW NAICS SCHEME:

These changes affect IMPLAN’s (Covered Employment and Wages) CEW data product, as well as growth rates based on CEW data, which are used to project some lagged raw data elements to the current IMPLAN data year. For more details, please see the Census Bureau’s NAICS website: https://www.census.gov/eos/www/naics/.
 

4 EXISTING NAICS CODES UNDERWENT TITLE CHANGES

  • NAICS codes 7213, 72131, and 721310 changed titles from “Rooming and boarding houses” to “Rooming and boarding houses, dormitories, and workers’ camps”
  • NAICS code 33522 changed title from “Major appliance manufacturing” to “Major household appliance manufacturing”

43 NAICS CODES FROM THE 2012 SCHEME WERE LOST AND 30 NEW NAICS CODES WERE ADDED

Creating a net loss of 13 NAICS codes, as listed below. NAICS categories that only underwent a code change, with no change to the title, are bolded and italicized:

THE FOLLOWING 30 NEW 2017 NAICS CODES WERE GAINED:

  • 21112 - Crude Petroleum Extraction
  • 211120 - Crude Petroleum Extraction
  • 21113 - Natural Gas Extraction
  • 211130 - Natural Gas Extraction
  • 212230 - Copper, Nickel, Lead, and Zinc Mining
  • 333914 - Measuring, Dispensing, and Other Pumping Equipment Manufacturing
  • 335220 - Major Household Appliance Manufacturing
  • 4522 - Department Stores
  • 45221 - Department Stores
  • 452210 - Department Stores
  • 4523 - General Merchandise Stores, including Warehouse Clubs and Supercenters
  • 45231 - General Merchandise Stores, including Warehouse Clubs and Supercenters
  • 452311 - Warehouse Clubs and Supercenters
    452319 - All Other General Merchandise Stores
  • 454110 - Electronic Shopping and Mail-Order Houses
  • 51225 - Record Production and Distribution
  • 512250 - Record Production and Distribution
  • 5173 - Wired and Wireless Telecommunications Carriers
  • 51731 - Wired and Wireless Telecommunications Carriers
  • 517311 - Wired Telecommunications Carriers
  • 517312 - Wireless Telecommunications Carriers (except Satellite)
  • 53228 - Other Consumer Goods Rental
  • 532281 - Formal Wear and Costume Rental
  • 532282 - Video Tape and Disc Rental
  • 532283 - Home Health Equipment Rental
  • 532284 - Recreational Goods Rental
  • 532289 - All Other Consumer Goods Rental
  • 541713 - Research and Development in Nanotechnology
  • 541714 - Research and Development in Biotechnology (except Nanobiotechnology)
  • 541715 - Research and Development in the Physical, Engineering, and Life Sciences (except Nanotechnology and Biotechnology)

 

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Topics: Data, Press Release, Economics, announcement

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