IMPLAN Blog

The Value of Storytelling in Business

If you have kids or if you ever were a child (so everyone), you inherently understand the value of storytelling. Storytelling has been used as a very effective learning device for years. From teaching children social and language skills to formal education for adults, storytelling is used as a means to communicate all ranges of ideas.

Newsprint, unlike your average algebra quiz, leaves little room for showing your work. But that doesn’t mean that you have to give partial credit to every large sum that’s inked across page A1. Fortunately, there are a few easy tricks you can rely on to suss whether those impressive economic numbers are fact or fake news.

I’m sure you’ve heard the cliche “it’s too good to be true?” Well, hosting the FIFA World Cup is too good to be true.

There are nearly as many different types of jobs as there are menu items on Starbucks' ever-changing menu. Naturally, counting them all up into one unified number in the results of an impact analysis grossly under-represents the diversity and dynamism of any given region’s workforce. But it’s possible to look at the unique job taxonomy of a region while still appreciating the big picture. Here are a few key job-related details to consider when interpreting employment impacts:

America has had a long and sometimes troubled relationship with its energy sources—it’s not just your imagination. A lot is said nowadays about the rise in renewable energy and the downfall of traditional fossil fuels. But when it comes to making the switch to solar or other renewable energy sources, the United States might be torn between two lovers. But don’t give up on us—despite the storied history, there’s still a lot of road ahead.

Recently I sat down with IMPLAN economist, James Squibb, to discuss his recent paper acceptance at the upcoming International Input-Output Association (IIOA) conference in Brazil this June. This paper, an extension of Incorporating Port-Level Foreign Trade Data into IMPLAN’s Gravity Model to Estimate Region-Specific Foreign Trade Rates published in 2017 by James and Jennifer Thorvaldson, attempts to validate the reliability of the new gravity model updates. Here is what I learned.

There’s a saying in the office here at IMPLAN that goes something like “our clients are often way more creative than we are at finding ways to use the software.” That’s never been more true of the Rand corporation in their collaboration with the Louisiana State University in their joint 2-year research project “Economic Evaluation of Coastal Land Loss in Louisiana” which was commissioned by Louisiana’s Coastal Protection and Restoration Authority in December of 2015.

Mistakes, we all make them. What if I told you that I could help you not make them? You’d probably be pretty happy, right? IMPLAN is a very useful tool and is easy to use when you know what all the terminology means. Luckily for you, IMPLAN offers a help desk where previous customers have probably asked the same questions that you may have. If not, it also allows you to post any questions and get a response. But in the interest of ease, here are a few of the common issues that IMPLAN users face and how to address them:

Two weeks ago, I published a post about the New Markets Tax Credits (NMTC) Program in the spirit of this year’s tax season coming to a close. Continuing on the topic, I sat down with our Marketing Design Director, and author of our newest Case Study “Of Curds & Whey”, Tim French, to pick his brain a little on the company he chose to interview and highlight as an exemplar of NMTC allocations done right.  

Since we’re currently in the middle of tornado season and on the heels of a prediction of an active 2018 Atlantic Hurricane Season, this would be an appropriate time for a discussion on natural disasters.

I’ve seen first-hand the destruction of natural disasters. I experienced Hurricanes Fran and Lloyd, plus the 2011 Super Outbreak of tornadoes while living in North Carolina and Alabama, respectively. It doesn’t take long after surveying the debris and downed trees or hearing the stories of survivors to realize the emotional and physical impacts of these events. But one thing that’s often talked about but harder to pin down is the economic impacts from nature’s fiercest displays of force.

That being said, let’s pose the question: “What results and trends can we expect when a natural disaster event occurs in a given region?” Seems simple enough, right? Well, the answer might be a little more complex than you’d expect.