IMPLAN Blog

In an increasingly competitive landscape, industry associations must continuously prove their value—to policymakers, the public, and even their own members. Whether advocating for funding, shaping regulations, or increasing public awareness, associations need compelling data to tell their story effectively.

That’s where economic impact analysis comes in.

This year, fans of the Philadelphia Eagles, the Kansas City Chiefs, and the NFL at large will pour into New Orleans, Louisiana for Super Bowl LIX at Caesars Superdome. While in New Orleans, they will stay in hotels, feast on beer and wings at local bars and restaurants, and shop for souvenirs to take home to their families. Some will pass time on the Bourbon Street before the game while others will visit grocery stores to stock up on tailgating essentials. 

The recent California wildfires have wreaked havoc across greater Los Angeles, threatening lives, homes, and businesses. But the ramifications of these wildfires extend far beyond visible destruction. In this follow-up to our earlier exploration of wildfires’ economic impacts, we dive into the findings of an Impact Analysis conducted on crop production in the affected areas. The results shed light on the profound consequences for California’s economy and the nation’s food supply.

Data season is here! At IMPLAN, we mark the holiday season with our annual data release. That means 2023 data has arrived in IMPLAN Cloud.

Each year, IMPLAN’s economists work diligently to compile the latest data from a wide range of sources, fill in gaps in the raw data, balance the data across all geographic levels, and more, empowering users to make their analyses more accurate and timely.

The educational landscape in the United States is changing rapidly, and for many small colleges and universities, the outlook is bleak. While large institutions may thrive, smaller liberal arts colleges have been facing mounting challenges that are pushing many toward closure. Over the last few decades, these colleges have played a pivotal role in fostering economic growth and stability in the small towns and cities where they are located. However, shifting demographics, rising operational costs, and other factors have combined to create a climate in which many schools are struggling to survive. What happens to the local economy when these institutions shut their doors?

We’re thrilled to announce the latest additions to IMPLAN’s Quick Start Guides: the University Impacts Guide and the Simplified Tourism Impacts Guide. Like our other Quick Start Guides, these new guides are designed to make economic analysis accessible to everyone, regardless of their background in economics. By following a series of on-screen prompts, users can easily analyze the impacts of various economic events and projects.

Wildfires are devastating for communities, ecosystems, and the economy. They lead to significant property losses, industry disruptions, and income reductions. However, the aftermath of these natural disasters also triggers substantial economic activity, particularly through rebuilding efforts and support systems. This dual nature of impact—both negative and positive—on the economy has been highlighted in a recent analysis using IMPLAN data.

This summer, the US Energy Information Administration (EIA) projects that residential customers will see their monthly electricity bills average $173 from June to August, up from last summer's $168. This 3% increase is due to households consuming an additional 30 kilowatt hours of energy each month compared to last year. Some estimates predict an even sharper rise, with costs expected to be 8% higher from June to September compared to the previous year.

The Energy Hardship Report by the Center for Energy Poverty and Climate and the National Energy Assistance Directors Association revealed that in March, 34.3% of households reported forgoing basic necessities to cover their energy bills at least once in the past year. To understand the impact of rising cooling costs, we assume that 34.3% of American households, or nearly 44 million households, will reduce non-electricity spending by 3% from June to August.

We're thrilled to announce a significant enhancement to our International Product – an expansion that opens up a world of possibilities for economic analysis. With the addition of 10 new countries to our database, we're now covering a total of 76 countries, empowering users with broader insights and deeper understanding across diverse economies.

The United States made a significant commitment during COP28 (The 2023 United Nations Climate Change Conference or Conference of the Parties of the UNFCCC) late last year by endorsing the declaration to triple its nuclear energy capacity by 2050. This ambitious goal aligns with the U.S. Department of Energy's (DOE) projections for reaching net-zero emissions in the next 26 years.

A key strategy to achieve this goal involves converting existing coal power plants to advanced nuclear plants. The DOE has identified 315 coal power plant sites as suitable for such conversions, including 125 recently retired plants. This approach could significantly cut construction costs, address job security for the current energy workforce, and advance environmental justice.