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IMPLAN Blog

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.

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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.  

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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. 

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Topics: Data, Economics, Technology, Methodology, Impact

Understanding IMPLAN: The Application and Data

Posted by Sarah K. M. Gross on May 6, 2020

If you’re looking to conduct an economic impact analysis study, chances are someone like you has performed and published something similar using IMPLAN. Conversely, if you’re attempting to study something unlike anything else, between IMPLAN’s data, applications, and knowledgeable customer success and education services teams, you have all the tools you need to get started.

Developed by the United States Forest Service (USFS) in conjunction with the Federal Emergency Management Agency (FEMA) over 40 years ago, IMPLAN boasts an unrivaled history of economic expertise. The USFS remains an active user of IMPLAN today along with a multitude of local, state, and federal government entities, a broad range of renowned academics, economic development entities, professional associations, consultants, and the United Nations.

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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.

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Topics: Data, Economics, Technology, Methodology, Impact

What IMPLAN Data Assets Are Available?

Posted by Bjorn Markeson on March 27, 2020

IMPLAN’s academic roots created a continuing commitment to enhance and promote research into regional economies. To that end, we are making IMPLAN Data Assets available in a convenient package for departmental, classroom, and library use. 

For nearly 20 years these Data Assets have powered our I-O/SAM modeling software, and by making IMPLAN data more accessible, our goal is to promote new research and applications of data to inform decision making for regional economies.  

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Topics: Data, Economics, Environmental, Methodology, Impact

Analyzing the Economic Impacts of the Coronavirus

Posted by Candi Clouse & Jenny Thorvaldson on March 19, 2020

COVID-19 has the world turned upside down. IMPLAN is no different as we have moved to working remotely instead of heading into the office. As the leader in economic impact modeling data and software, we are being continually asked how to model the economic impacts of COVID-19. Unfortunately, the answer isn’t easy, and with things changing so quickly, it won’t fully be known until the pandemic is under control. No model can predict all of the wide-ranging, short- and long-term impacts of such a far-reaching phenomenon as the COVID-19 pandemic, but here are some ways you can examine what is happening in the U.S. and your community.

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

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.

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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. 

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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.

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

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

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