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INTRODUCTION: Construction is a tricky thing to consider when modeling economic impacts. While the considerations to analyze are outlined in Construction: Building the Right Model, this article will walk through an example of a project that crosses years, as rarely are large-scale developments completed neatly in one calendar year. EXAMPLE: Morgan Construction is planning a […]
INTRODUCTION: When starting an IMPLAN analysis, you should first frame an analysis by identifying the who, what, where, when, and why of the analysis. Each of the first four questions are heavily influenced by the why of your analysis. Framing your analysis is key to ensuring that studies are, first, prepared properly, and second, created […]
INTRODUCTION: Welcome to IMPLAN and economic impact modeling! This article will guide you through what you need in order to run your first analysis. Good news! You only need to know a few things to get going. While it is true that the more data and information you have, the more accurate your results will […]
INTRODUCTION: Sectors are a way of describing your Industry. All versions of the Sectoring schemes (except the 528) are based on NAICS codes but represent differing levels of NAICS code rollups. Generally speaking, manufacturing Sectors are 4-5 digit NAICS; whereas, agriculture and services are 3-4 digit NAICS. Choosing the correct Sector is vital to an […]
INTRODUCTION: Certain IMPLAN Sectors require additional explanation, either because they are not NAICS based or they have special properties. Below are the special Sector descriptions (sector numbers are based on the 546 sector scheme for 2018 IMPLAN data sets).1 SECTORS 50-59: CONSTRUCTION IMPLAN construction Sectors are classified by structure type (Census definitions) rather than […]
INTRODUCTION: Sectoring schemes provide a means of classifying and aggregating Industry and Commodity data. Each database source can have its own unique format or scheme for presenting Industry data (e.g. IMPLAN scheme or the REA scheme). An Industrial classification scheme allows categorization according to the type of products or services produced by the Industry or […]
The market value of the goods and services produced by labor and property located within the borders of the United States. Since 1991, GDP is the featured measure of U.S. production. (BEA) In IMPLAN, Value Added is a measure of the contribution to GDP made by an individual producer, Industry, or Sector.
Regional GDP is the market value of the goods and services produced by labor and property located within the borders of a particular region. It was formerly referred to as Gross Regional Product. In IMPLAN, Value Added is a measure of the contribution to GDP made by an individual producer, Industry, or Sector made within that geography.
State GDP is the market value of the goods and services produced by labor and property located within the borders of a particular state. It was formerly referred to as Gross State Product. In IMPLAN, Value Added is a measure of the contribution to GDP made by an individual producer, Industry, or Sector made within that state.
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