IMPLAN Blog

IMPLAN is built on many years of economic data – but how can it help when you’re curious about the economic impacts of an industry without a documented history to examine?

Emerging industries, such as legalized cannabis, are reshaping local economies and generating ripple effects that influence job creation, tax revenues, and broader economic landscapes. For policymakers, business leaders, and researchers, understanding these impacts is essential for making informed decisions. IMPLAN, a robust economic impact analysis tool, is particularly suited for analyzing emerging industries due to its flexibility, data granularity, and customization capabilities.

Let’s take a look at how IMPLAN can be employed to measure the economic impacts of new industries.

Periods of financial uncertainty—whether due to budget negotiations, policy shifts, or economic downturns—can have widespread implications across industries, public services, and local economies. When government funding is delayed or reduced, the ripple effects can be felt far beyond the initial disruption, impacting employment, wages, and economic growth.

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.

As the 2024 election looms, one of the most debated policy proposals is the "No Tax on Tips" plan championed by former President Donald Trump and Vice President Kamala Harris. This initiative, which aims to eliminate federal income tax on tip income, is designed to bolster the take-home pay of millions of American workers in the service industry. While the plan promises immediate benefits for tipped workers, its broader economic implications raise questions about long-term impacts on the U.S. economy. 

A recent study by the Commonwealth Fund examines the potential economic repercussions of proposed federal cuts to Medicaid and the Supplemental Nutrition Assistance Program (SNAP). The analysis projects that such cuts could lead to over 1 million job losses nationwide and a $113 billion reduction in state GDPs by 2026.

In February 2025, the National Institutes of Health (NIH) proposed a cap on indirect costs for federal grants. This move could significantly affect the funding landscape for research institutions across the country, and it’s important to understand the economic consequences of this change. In particular, the cap could reduce the indirect costs that are vital to covering overhead expenses associated with research activities.

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.

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?