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.
There are several advantages to using MRIO in place of traditional single-region input-output analysis techniques. Mainly, MRIO exposes the connections and dependencies between regional economies by allowing individual regional identities to be maintained as a part of a broader regional analysis. In IMPLAN, results are filterable so that in an MRIO analysis, the incoming trade to a region can be isolated from or aggregated to the local impacts of the larger surrounding region.
2018 is over.
2019 is here.
Honestly, where did the time go? It seems like just yesterday we were conversing about the 2016 IMPLAN Data Release Notes, discovering why robots aren’t actually killing jobs, and surviving the hurricanes by exploring the history of hurricanes in North Carolina.
Seriously, it has been a year to remember here at IMPLAN. These past 12 months we experienced growth internally and externally and found inspiration in every direction we looked. In that time we have also published more than 30 articles on our site, with a few standing apart from the others.
Which blogs stood apart from the others? The ones people felt inspired and intrigued by the most? Here are the 5 most popular blog posts of 2018 on the IMPLAN Blog:
We talk a lot about economic impact analysis here but the question of economic impact is only one part of a multifaceted reality.
Researchers at the Michigan Department of Transportation had a different type of question. They didn’t want to just know about the jobs that could be created from constructing trails. They didn’t want to just know about tourism and retail spending that comes when people ride bikes or walk on those trails.
The concept of input-output analysis was theorized nearly a lifetime ago. But input-output modeling as we know it today has advanced in fits and spurts through an infancy that has lasted nearly 40 years. The latest advancement in technology and methodology is going to propel economic impact modeling into the future.
After more than a year since Amazon’s deadline for RFP submissions, over 200 subsequent submissions, and a culling of 20 possible locations earlier this spring, we’ve finally (almost) got our answer—an HQ2 with one foot in Crystal City, Virginia and another in Queens, New York. And mere hours after the news broke, markets are already reacting in some rather severe (and not altogether unexpected) ways.
Late in the summer of 1949, Wassily Leontief fed the 25-ton computer the last of the stiff paper punched with precisely-placed holes. The machine at Harvard University now had hundreds of thousands of data points about the United States economy.
Demand for jet engines is taking off. Domestic airlines have relied on up-fitting or remodeling equipment originally constructed in the 1970s or later. This generation of equipment is slowly approaching its expiry. And internationally, travel tastes have changed. Airlines are one-upping each other to offer the most top-of-the-line luxury flights which are incorporating features including personal compartments with beds, full-service bars, and incredible food options.
Amazon recently announced that it would be raising the minimum wage paid to workers to $15 per hour (minimum wage standards sometimes vary by state and city; the current federal minimum pay is $7.25). According to the company’s blog, the wage increase will go into effect on 1 November, will be extended to associates employed by temp agencies, and is anticipated to affect the paychecks of more than 250,000 Amazon employees, as well as more than 100,000 seasonal holiday employees. Workers at Amazon subsidiaries (including Whole Foods) will also benefit from the parent company’s new initiative to “lead on pay.”
Back in August we published a blog post to address one of the most common questions asked of us, “What Is IMPLAN?” One of the reasons this question remains a complicated one to answer is that economic impact analysis benefits such a diverse set of users (from academia, to federal government, to real estate and everything in between). To elaborate beyond what IMPLAN is and illustrate what it does, let’s take a look at some of our common user types and a high-level example of how each of them applies the power of economic impact analysis in their spheres of study or in their industry.