IMPLAN Blog

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. 

The proposed Child Tax Credit bill currently awaiting Senate approval promises to provide much-needed financial support for low-income families. This bill seeks to increase the maximum refundable amount per child, potentially uplifting millions of children and their families. 

This bipartisan legislation would, among other things, increase the maximum refundable amount per child of the Child Tax Credit from $1,600 currently to $1,900 in 2024 and $2,000 in 2025, as well as an inflation adjustment capped at $200.  An estimated 16 million children in families with low incomes would benefit in the first year, with more expected to benefit in the second year. 

A recent analysis conducted by IMPLAN sheds light on the far-reaching economic implications of the Child Tax Credit component of this bill, illustrating how increased household spending can stimulate GDP growth, job creation, and federal tax revenue.

In the last year, the United States witnessed a notable surge in strikes, with significant ramifications for various sectors of the economy. 

2023 saw a considerable uptick in strikes, with 33 major work stoppages—the highest in over two decades. Notably, these strikes involved nearly 459,000 workers, resulting in approximately 16.7 million days of lost work. Among these, the SAG-AFTRA strike, involving 160,000 actors and lasting four months, stood out as one of the most significant.

Drawing from recent data, this analysis delves into the economic effects of some of the most high-profile strikes, those by the Screen Actors Guild—American Federation of Television and Radio Artists (SAG-AFTRA), the Writers Guild, the United Auto Workers (UAW), and a coalition of unions against healthcare giant Kaiser Permanente.

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.

The United States is experiencing a surge in demand for distribution transformers, a critical component of its power infrastructure. This demand spike is not merely a localized issue; it reflects broader economic dynamics and necessitates a deeper understanding of its implications. Let’s delve into the economic intricacies of this phenomenon and its far-reaching impacts.

Economic impact analysis isn’t just for those with years of experience in the field of economics anymore. 

For decades, IMPLAN has been the tool that economists and researchers turn to when they want to measure the impact of an economic event on a region. IMPLAN has long been trusted to deliver easy-to-use impact modeling, and extensive economic analytics. A few months ago, the IMPLAN Product Development team launched Quick Start Guides, which make it possible for those without an economics background to perform economic impact analysis quickly and easily by following a series of prompts that appear on the screen inside the application.

The recent collapse of the Francis Scott Key Bridge has sent shockwaves not only through Maryland, but also through the United States and the world at large. In addition to the heartbreaking loss of life, this event also has significant economic implications for the state of Maryland. In the aftermath of this disaster, the IMPLAN team has been hard at work analyzing the economic impact of a potential one-month closure of the Port of Baltimore.

As Easter approaches, many consumers are keeping a close eye on egg prices. The cost of a dozen eggs has increased dramatically since the outbreak of highly pathogenic avian influenza (HPAI) in commercial flocks. The rollercoaster ride of egg prices, influenced by supply disruptions, has left many wondering if they'll be paying more for their Easter eggs this year. But is there hope on the horizon?

Let's delve into the data and assess the current situation.

In the intricate dance of governance, few entities wield as much power and influence as the United States Congress. Tasked with enacting legislation and shaping the nation's trajectory, Congress represents the interests and concerns of the American people. But how can organizations ensure that their voices are not lost in the shuffle of policymaking?

Did you know IMPLAN’s data can help you measure the impact of climate change on specific regions and industries?