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

IMPLAN Blog

Modeling the Impact of the Coronavirus with Evolving Economy Data

Posted by Joe Demski on September 28, 2020

The coronavirus epidemic has reset the way we understand and examine the economy. With major changes to employment levels and household spending, plus stimulus checks, increased unemployment benefits, and PPP loans, it is crucial that economic data is updated during this time. With that in mind, IMPLAN is proud to announce the release of ground-breaking data and economic impact models for the COVID-19 era: Evolving Economy - COVID Q2-2020.

Read More

Topics: Data, Economics, Technology, Methodology, Impact, Economic Development, Coronavirus, Disruption

What Can You Do with Occupation Data in IMPLAN?

Posted by Joe Demski on August 31, 2020

The most granular employment insight IMPLAN has ever assembled and organized by occupation and core competency is now available for purchase inside the IMPLAN application. Our occupation data shows estimates of employment, wages, hours, and core competencies for 823 different occupations. What you find in the data and how can it be leveraged in your own studies can be a game-changer.

Read More

Topics: Data, Economics, New Market Tax Credit, Methodology, Impact, Economic Development

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: 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.

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

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.  

Read More

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.

Read More

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

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