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IMPLAN Blog

Audio: An Overview of Industry Contribution Analysis (Everything We Didn’t Put in the Webinar)

Posted by Joe Demski on June 20, 2019

The terms “economic impact” and “economic contribution” are often used interchangeably. However, the results they provide differ significantly. Impact analyses predict economic shifts based on change in an industry. Contribution analyses model the effects supported by an existing business or industry in a defined area. Industry contribution analyses are particularly important to groups like trade organizations or businesses that would like to determine their overall economic contribution at their current production rate.

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Topics: Data, Economics, Contribution Analysis, Methodology, Association

What You Can Take Away from the New York Apple Association’s Economic Contribution Analysis

Posted by Joe Demski on June 12, 2019

Contribution analysis is a modeling method used to estimate the value of a sector or group of sectors in a region at their current levels of production. Naturally, it is a valuable and useful tool for groups like industry associations and government entities that are evaluating the value of an industry to their community.

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Topics: Data, Economics, Contribution Analysis, Association, Agriculture

What You Need to Know to Future-Proof Your Opportunity-Zone-Based Economic Impact Analyses

Posted by Tim French on May 24, 2019

Regulatory standards, depending on your reading of the latest IRS Tranches and guidance, have either changed or come into clearer focus when it comes to what the CDFI Fund identifies as a "successful" Opportunity Zone (OZ) project. Regardless of your reading of IRS's latest missives, there are a few tactics worth highlighting that will ensure that the economic impact analyses describing the significance of your projects and the potential economic significance of your program (or portfolios) will stand ready for review when the time comes to evaluate their contribution to the economic well-being of your service area.

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Topics: Data, Economics, Funding, Contribution Analysis, New Market Tax Credit, Methodology, "Taxes", Opportunity Zones

Things That Can Go Wrong with Mixed-Use Development Projects

Posted by Tim French on May 7, 2019

Many fail and few succeed when it comes to breaking ground on development projects as complicated as those in the mixed-use category. Some languish, some fail, and others suffer hostile take-downs. Still, there are a handful of foreseeable pitfalls which you can easily dodge while in the planning phase of a project. Here are a few of these traps that we’ve observed and how best to avoid them.

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Topics: Data, Economics, Employment, Funding, Methodology

The Many Tributaries of Big Data: Where Does U.S. Economic Data Come From?

Posted by Tim French on April 9, 2019

Economic data flows and collects from sources both varied and unique. But which sources are significant and why? And how complex does this world of big data get when it comes to trying to explore the economic landscape? Cue Ms. Frizzle’s “Seatbelts, everyone!” line and let’s take a tour of economic data sources on the Magic School Bus!

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Topics: Data, Economics, Technology, Methodology

Top 5 EDC Social Media Accounts & Tips

Posted by Taylor Johnson on March 26, 2019

The explosion of social media is a gold mine, especially for Economic Development Corporation’s (EDCs).

Why, you ask?

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Topics: Data, Economics, Methodology

Translating Real-World Survey Results into an Economic Impact Analysis

Posted by Tim French on March 21, 2019

Ever since the likes of IBM’s Watson, Google Trends, and Bloomberg Terminal emerged, data-driven decision making shifted from fad to fixture in the business world. But the fundamental shift that big data made in the world of research didn’t change which questions to ask, but rather how we ask those questions. Or, as Douglas Adams might say, you need to really know what you’re asking before you switch on Deep Thought.

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Topics: Data, Economics, Technology, Methodology

Why Selecting the Right Sector or Commodity Matters: Modeling with Margins

Posted by Tim French on March 6, 2019

No two sectors (or businesses) are alike. One fundamental differentiator is that some sectors make goods and some sectors distribute goods as a service. This simple but substantial distinction can significantly affect the quality or range of your results while modeling economic impacts.

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Topics: Data, Economics, Technology, Methodology

Economics of E-Scooters (Part 2): E-Scooter vs. TriMet Net Analysis

Posted by Tim French on February 26, 2019

Barely more than a year ago, e-scooters suddenly flooded city streets across the country. But their presence wasn’t always met with enthusiasm. Antagonistic cities and towns cited public health concerns, street congestion, and even harassment as cause for banning the popular short-trip transportation option altogether.

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Topics: Data, Economics, Technology, Methodology

Economics of E-scooters (Part 1)

Posted by Vanessa Remmers on February 15, 2019

When scooters swooped into Richmond, Virginia overnight last August, battle lines emerged just as fast. Like other cities where the electric, dockless flock cropped up with little to no warning, some decried while others praised the newcomers. Several groups of residents urged government leaders to roll out the welcome mat instead of red tape, but politicians voiced concerns about safety as they issued directives to squash the permit-less scooters.  

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Topics: Data, Economics, Technology, Methodology

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