IMPLAN Blog

When you’re delving into economic analysis, you'll often encounter North American Industry Classification System (NAICS) codes. NAICS codes (pronounced like “snakes” without the “s”) are essential for categorizing businesses and understanding economic data. 

In today’s blog, we’ll break down what NAICS codes are, how they correspond with IMPLAN sectors, and why they matter for your economic impact analysis.

It’s important to keep an eye on economic diversity, especially in times of economic uncertainty and when supply and demand are shifting. The Shannon-Weaver index is a powerful tool for measuring how evenly or unevenly the employment in any region is distributed among its industries. In today’s blog, we’re exploring how the S-W index works in IMPLAN and what it means for your economic impact studies.

So, you’re hoping to gain insight and quantify the impact of an industry, a new or existing business, expected growth or changes, or a specific event to the economy of a particular region. Where do you even begin?

Local events that bring communities together for holidays or regional celebrations often become annual traditions deeply intertwined with an area’s identity. In recent years, however, some localities have halted events like holiday parades, block parties, and July Fourth fireworks due to increasing regulations and rising costs. The immediate savings are beneficial. However, the significant, positive effects these events have on local economies are being lost in the process. While few studies exist regarding the impact of non-tourist, community events on economies, the framework exists to reliably analyze their effects. Before jumping into the event analysis methodology however, there are several factors to assess.

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.

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.

Manufacturing leaders today face a fast-evolving landscape shaped by workforce challenges, supply chain pressures, and a race against other manufacturing leaders to innovate faster, better, and smarter. Whether you’re evaluating a new site, planning workforce training initiatives, or promoting your region as a hub for advanced manufacturing, one thing is clear: Data-driven decisions are no longer optional. They’re essential.

With IMPLAN, manufacturers, economic developers, and consultants gain a powerful lens into the economic dynamics of regions across the United States. Here’s how you can leverage regional manufacturing data to support strategic decisions:

Recent federal actions targeting Harvard University have sent shockwaves through Greater Boston’s research and education ecosystem. The termination of billions in research funding, the disqualification of the university from future federal grants, and new restrictions on international student enrollment present not just institutional challenges for Harvard, but economic risks for the entire region.

Let’s explore the potential economic consequences of these federal policy shifts, using IMPLAN data and modeling to understand what’s at stake.

While Americans are traveling abroad in record numbers, the United States is facing a concerning decline in international visitors, and the economic consequences could be severe.

According to recent data, inbound international tourism to the U.S. is down 10% year-over-year, with inbound visitors falling 14% in March alone. Meanwhile, Americans are setting new records for overseas travel, with outbound international flights up 1.6% from last March and 22% higher than pre-pandemic levels in 2019. All of this has created a growing imbalance between what international tourists spend in the United States and what Americans are spending abroad.

The American auto industry is facing a fresh wave of layoffs, and the consequences extend well beyond the gates of Mack Trucks, Volvo, and Stellantis.

Mack Trucks has announced plans to cut up to 350 positions at its Lehigh Valley Operations Center in Lower Macungie Township, Pennsylvania. Volvo Trucks is eliminating another 450 jobs across its facilities in Dublin, Virginia, and Hagerstown, Maryland. Stellantis has confirmed the temporary layoff of 900 employees at its plants in Michigan and Indiana. In total, 1,700 direct jobs are being lost.

At first glance, that number may sound manageable in the context of the national economy. But when it comes to the auto industry, what happens on the assembly line doesn’t stay on the assembly line.