<img src="//bat.bing.com/action/0?ti=5564067&amp;Ver=2" height="0" width="0" style="display:none; visibility: hidden;">

IMPLAN Blog

Joe Demski

Recent Posts

Small Business, Big Economic Impact: Food Trucks and the Coronavirus

Posted by Joe Demski on July 30, 2020

Across the country, the service industry has felt the consequences of the coronavirus more severely than most. Through the beginning of May, more than 8 million restaurant jobs were lost. While cities and regions of all sizes have felt the strain, social distancing and business restrictions have affected small businesses in towns reliant on tourism spending particularly harshly. One of these towns is Asheville, North Carolina. Asheville, a city located in the Blue Ridge Mountains of western North Carolina, is known for its beautiful mountain views, tourist attractions, and incredibly robust brewery scene. 

According to IMPLAN data, the food service industry supports over 18,000 jobs, making it the largest employment sector in the Asheville MSA. When COVID-19 hit and businesses began closing up shop for indeterminate periods of time, it left many uncertain of how they could continue operating. Gathering restrictions and event cancellations posed a unique threat to the more than 100 food trucks that operate in and around Asheville.

Read More

Topics: Data, Economics, Contribution Analysis, Tourism, Impact, Economic Development, Coronavirus, Disruption

Understanding IMPLAN: Measures of GDP

Posted by Joe Demski on June 23, 2020

If you review the results of an IMPLAN economic impact study, you will not find GDP listed in the results. Naturally the question arises, "What is the GDP?" Within IMPLAN results, that value is actually demonstrated in multiple ways. 

Gross Domestic Product (GDP) is defined as the total market value of all final goods and services produced within a region in a given period of time (usually a quarter or year). GDP is the sum of value added at every stage of production (the intermediate stages) for all final goods and services produced within a region in a given period of time. In other words, GDP is the wealth created by industry activity.

Read More

Topics: Data, Economics, Technology, Methodology, Impact

Understanding IMPLAN: Direct, Indirect, and Induced Effects

Posted by Joe Demski on June 18, 2020

“How can $1 of spending support more than $1 in the local economy?”

We get questions like this about economic impact analyses all the time. The answer is very straightforward. The results of an input-output (I-O) analysis are broken down into direct, indirect, and induced effects. The combination of these overarching economic effects often total greater than the initial economic input. Each level of effects captures a different portion of the complete economic portrait. In order to understand the totality of an impact, you must conceptualize how each value is defined and what they represent.  

Read More

Topics: Data, Economics, Technology, Methodology, Impact

Understanding IMPLAN: Multipliers

Posted by Joe Demski on May 28, 2020

The foundation upon which IMPLAN economic impact analyses are built is the input-output (I-O) model, and the basis for I-O models are multipliers. Multipliers are rates of change that describe how a given change in a particular industry generates impacts in the overall economy (e.g. for every dollar spent in the economy an additional $0.25 of economic activity is generated locally, implying a multiplier of 1.25). What multipliers represent and how they are calculated can vary significantly. 

Read More

Topics: Data, Economics, Technology, Methodology, Impact

Understanding IMPLAN: Input-Output Analysis & Assumptions

Posted by Joe Demski on April 6, 2020

IMPLAN is a platform that combines a set of extensive databases, economic factors, multipliers, and demographic statistics with a highly refined, customizable modeling system. The foundation upon which economic impact analyses are built is the input-output (I-O) model. Understanding I-O analysis and the assumptions they employ are crucial to properly performing and reporting your own analysis.

Read More

Topics: Data, Economics, Technology, Methodology, Impact

A $22 Billion Loss: The Potential Impact of Coronavirus on Foreign Travel to the US

Posted by Joe Demski on March 17, 2020

News coverage around COVID-19 is unavoidable. The worldwide pandemic has upset lives globally and dominated everyone’s attention for weeks. With the situation seemingly changing every hour, experts across industries have come forward with predictions about all aspects of life including from healthcare, personal finance, the economy, and more. Due to the interconnectedness of our economy, a disruption to any industry has ripple effects throughout other industries and geographies. Foreign travel was one of the first industries to be clearly impacted by the emergence of the coronavirus in China, and impact analyses can demonstrate the reach of those affected by this economic turmoil.

Read More

Topics: Data, Economics, Contribution Analysis, Natural Disasters, Tourism, Impact, Coronavirus, Disruption

IMPLAN Has EU Data

Posted by Joe Demski on February 28, 2020

The worldwide economy is constantly evolving and the impacts of economic decisions often cross borders. For decades, researchers, business leaders, and decision-makers have trusted IMPLAN’s data in order to analyze and explore economic activity within the U.S. Those years of data expertise have now gone into crafting IMPLAN’s European Union (EU) data. 

Read More

Topics: Data, Economics, Methodology, Impact, Europe

Rising Tides: The Economic Impact of the Miami International Boat Show

Posted by Joe Demski on February 27, 2020

Miami is expecting an economic impact of $854 million from a major event this February, but the source of that economic boom may surprise you. For the last 79 years, the Miami International Boat Show has welcomed boating enthusiasts from around the world for an annual exhibition of watersport technology, products, and recreation. According to a recent study, the economic impact felt in South Florida nearly doubles the contribution expected from the Super Bowl 54.

Read More

Topics: Data, Economics, Contribution Analysis, Methodology, Tourism, Impact, Economic Development

Quantify Your Economic Impact in Any Congressional District

Posted by Joe Demski on January 27, 2020

When conducting any economic impact study, defining where an impact is felt is critical. Whether analyzing the nationwide impact of an industry or the contribution that business makes in a specific zip code, IMPLAN’s economic data and modeling provide the insight you are seeking. Data is available for all geographic regions across the U.S. including all 435 congressional districts. This means that economic impact analyses can be run in any congressional district nationwide. Advocacy groups and leaders are utilizing this data to bolster their advocacy efforts, communicate their value to elected officials, and influence legislation.

Read More

Topics: Data, Economics, Contribution Analysis, Association, Impact, Advocacy, Government, Congressional Districts

What Can I Do with IMPLAN?

Posted by Joe Demski on December 13, 2019

Decision makers and business leaders are constantly looking for new ways to make their organizations smarter. Economic insight is key to achieving financial goals. IMPLAN has the technology you need in order to unlock economic opportunity.

So, what is IMPLAN? IMPLAN is a platform that combines a set of extensive databases, economic factors, multipliers, and demographic statistics with a highly refined, customizable modeling system. Together, our application and robust data allows you to:

  • Gain insight into an industry's contributions to a region 
  • Quantify the impact of a shock to an economy
  • Examine the effects of an existing or emerging business 
  • Model the economic impacts of changes to business operations
  • Study events specific to the economy of a region’s economy, and more.

IMPLAN data is aggregated from multiple sources and is compiled into a  546-sector scheme and framework. The data sources include the Bureau of Labor Statistics, U.S. Census Bureau, Bureau of Economic Analysis, and more. Non-disclosures exist within these data sources, so our team fills in the gaps left by non-disclosures. Beyond reconciling data sources and filling in for non-disclosures, we add additional value by estimating finer geographic scales—calculating more granular data based on what is existing—and providing inter-county trade flow data. 

The data and platform have the ability to perform a number of detailed analyses and provide solutions to an ever-increasing amount of questions. How can IMPLAN provide economic insight for you? Start with a question that you want answered.

Read More

Topics: Data, Economics, Technology, Contribution Analysis, Methodology, Association, Tourism, Impact, Economic Development, Corporation

Why IMPLAN?

Put simply, IMPLAN is built for everyone.

Together, our software and data give you a window into your region of study — like one gigantic transaction log for the local economy. Chances are that if your project or business has a financial component, then IMPLAN can reveal some sometimes surprising detail about how your project relates to the local, state, or national economy.

What used to take economists weeks can be done in minutes. By anyone!

But you're not alone, IMPLAN's best benefits go beyond the work done in the tool:

  • Easy to learn and use
  • Outstanding customer support
  • Access to orientations, trainings, and project consultations
  • Instills confidence in your analyses

Recent Posts