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IMPLAN Annual Data Updates

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INTRODUCTION

IMPLAN data is updated annually, but the 'current' year lags behind the current calendar year.  However, the data is a snapshot of the economy for the base year of the data set, the year for which the data was reported.  Thus a 2004 Model of Orleans Parish will show the economy of 2004 (pre-Katrina) and a 2006 Model of Orleans Parish will show the economy of 2006 (post Katrina). 

Fun Facts about the Annual Updates

  New data sets are released around the end of each calendar year and are a little more than a year behind that calendar year (e.g. 2013 was available at the end of 2014 and 2014 data was available around the end of 2015).
Data sources used to calculate the IMPLAN Data do not become available until early June of the following year (so data on the calendar year of 2013 was not begun to be released until June of 2014). Once the data sources become available, our Ph.D. economists and data developers begin compiling and converting this information into our unique IMPLAN data products.
  
 

 This process includes:

  • Estimating non-disclosures
  • Converting Data to the current BEA Sectoring scheme
  • Projecting some data elements whose release date lags
  • Combining regional data sources and balancing reports from multiple sources so that sub-regions are forced to sum to the totals of their larger geographies (e.g. ZIP Codes sum to counties, counties to states, and states to the U.S.)
  • Creating trade estimates

Our data is derived from numerous sources, primarily federal agencies who conduct annual data collection and estimates, such as:

  • U.S. Bureau of Labor Statistics (BLS) including CEW and Consumer Expenditure Survey
  • U.S. Bureau of Economic Analysis (BEA) including REA data, Benchmark I/O accounts, and Output estimates
  • U.S. Census Bureau County Business Programs (CBP) and Dicennial Census and Population Surveys
  • U.S. Department of Agriculture Census

To investigate further into IMPLAN data sources please follow this link.

  

Updated June 17, 2020

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