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IMPLAN Blog

Expanding Horizons: Updated IMPLAN International Product

Posted by Chandler West on July 11, 2024

We're thrilled to announce a significant enhancement to our International Product – an expansion that opens up a world of possibilities for economic analysis. With the addition of 10 new countries to our database, we're now covering a total of 76 countries, empowering users with broader insights and deeper understanding across diverse economies.

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Topics: Data, Economics, Technology, Methodology

NAICS Codes 101: Understanding Industry Classification with IMPLAN

Posted by Chandler West on July 3, 2024

When you’re delving into economic analysis, you'll often encounter North American Industry Classification System (NAICS) codes. NAICS codes (pronounced like “snakes” without the “s”) are essential for categorizing businesses and understanding economic data. 

In today’s blog, we’ll break down what NAICS codes are, how they correspond with IMPLAN sectors, and why they matter for your economic impact analysis.

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Topics: Data, Economics, Technology, Methodology

Understanding IMPLAN: Measures of GDP

Posted by Joe Demski on June 30, 2024

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: Multipliers

Posted by Joe Demski on May 14, 2024

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

Get to Know the Shannon-Weaver Index of Economic Diversity

Posted by Jenny Thorvaldson on April 16, 2024

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.

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Topics: Economics, Methodology

A Trusted Resource: Understanding IMPLAN Input-Output Models

Posted by Jenny Thorvaldson & Chandler West on January 23, 2024

Over the years, IMPLAN has gained the trust of users by providing valid and reliable data and analytics. In this blog post, we’re exploring the history of IMPLAN and of input-output models to show you how we’ve come to be relied on as a credible source for so many researchers and decision makers. 

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Topics: Data, Economics, Methodology, Impact

IMPLAN’s User Interface Redesign: Everything You Need to Know About the Newest Release

Posted by Chandler West on October 16, 2023

If you’ve logged into IMPLAN Cloud in the last month, you may have noticed that the app has undergone a makeover! While we frequently make updates and improvements to IMPLAN Cloud, we’re particularly excited about this batch of changes to our user interface. Our Product Development team has been hard at work making it easier than ever to perform economic impact analysis, and we’re so excited to show you what’s new in the IMPLAN Cloud application.

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Topics: Economics, Methodology, announcement

Get to Know the Shannon-Weaver Index of Economic Diversity

Posted by Jenny Thorvaldson on August 19, 2022

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.

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Topics: Economics, Methodology

What is IMPLAN?

Posted by IMPLAN Staff on August 4, 2022

So, you’re hoping to gain insight and quantify the impact of an industry, a new or existing business, expected growth or changes, or a specific event to the economy of a particular region. Where do you even begin?

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Topics: Data, Economics, Methodology

What is the Economic Impact of the Infrastructure Bill?

Posted by Chandler West on August 31, 2021

In early August 2021, the Infrastructure Investment and Jobs Act passed in the Senate. By the end of the month, the House of Representatives agreed on a September 27 deadline for voting on the bill, and given its bipartisan support, it is expected to pass there as well. This new bill focuses on investments in roads, railways, bridges, and broadband internet. It proposes $550 billion in new spending from 2022 to 2027, with the aim to improve sustainable transportation options, expand access to high-speed internet and clean drinking water, and upgrade our power infrastructure to facilitate the expansion of renewable energy.

These are exciting goals, backed by a lot of money. But what exactly will the economic impact of these investments look like? The ripple effect of this large amount of government spending can be expected to make a difference across the country, not just in the industries where it is initially spent, but also far beyond. We can get a clearer picture of the infrastructure bill’s impact on the economy through Input-Output Analysis performed by economists at IMPLAN Group, LLC, the leading provider of economic impact data and technology.

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Topics: Data, Economics, Employment, Methodology, Impact, Government

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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