IMPLAN Blog

Back in August we published a blog post to address one of the most common questions asked of us, “What Is IMPLAN?” One of the reasons this question remains a complicated one to answer is that economic impact analysis benefits such a diverse set of users (from academia, to federal government, to real estate and everything in between). To elaborate beyond what IMPLAN is and illustrate what it does, let’s take a look at some of our common user types and a high-level example of how each of them applies the power of economic impact analysis in their spheres of study or in their industry.

Being equipped with the proper data as well as the right analysis tools can help you make better and more informed business decisions. IMPLAN provides excellent data that can supplement your analyses. Our latest release of the Occupational Data Matrices joins the ranks of those supplemental data sets. This data set provides information on employment and compensation, which might just make determining wages and allocating scarce resources a less arduous task.

Back in April, we were storm-chasing Tornados and growing wary of the fast-approaching prediction of an active 2018 Atlantic Hurricane Season. Today we are living out this prediction, as Hurricane Florence, a dangerous category 4, is barreling towards our East Coast.

IMPLAN’s HQ is nestled in the bucolic margins of Lake Norman and a mere stone’s throw from Charlotte’s city center—751 feet above sea level. We’ve all been hitting the refresh buttons on our screens to catch every change to the weather models as hurricane Florence slowly creeps toward our coast from seas which seem to have made it a banner week for tropical storms.

Economic impact analysis is, at the end of the day, only a fraction of the work necessary for understanding and communicating the significance of an economic event (whether business- or policy-related) to the people who might be most affected by those economic changes. The remaining work related to getting the word out happens in press conferences, on phone calls, and online. Here’s our best advice on how to recruit the media’s help in getting all that work done—excerpted from one of our recent white papers, Creating a Compelling Economic Impact Report.

IMPLAN’s economists have completed our newest Census of Employment and Wages (CEW) data set which is now available for purchase. A lot of work goes into delivering the best, most detailed CEW data out there. And since we have CEW data for all counties for all years back to 2001, it makes for fantastic statistical and trend analysis for anyone wanting to look deeper into the U.S. wage and salary business sphere.

Taxes and tariffs have resurfaced in the last few months and are at the forefront of the nation’s attention. Rumors of trade wars and threats of economic sanctions fly around the globe faster than Garfield can devour a lasagna. Historically, governments have used taxes and tariffs to stimulate or throttle markets to achieve a desired economic state of balance.

The Value of Storytelling in Business

If you have kids or if you ever were a child (so everyone), you inherently understand the value of storytelling. Storytelling has been used as a very effective learning device for years. From teaching children social and language skills to formal education for adults, storytelling is used as a means to communicate all ranges of ideas.

Newsprint, unlike your average algebra quiz, leaves little room for showing your work. But that doesn’t mean that you have to give partial credit to every large sum that’s inked across page A1. Fortunately, there are a few easy tricks you can rely on to suss whether those impressive economic numbers are fact or fake news.

I’m sure you’ve heard the cliche “it’s too good to be true?” Well, hosting the FIFA World Cup is too good to be true.