IMPLAN Pro: Creating a Customized Event

You may have more information about your event than just Industry Sales or Employment. Perhaps you know both these numbers relative to the Industry that you are studying. Or instead, maybe you know Employment and Employee Compensation for the Company you are studying. In these instances, you can overwrite the IMPLAN proxies for these fields by entering in all known values and creating a Custom Event.

The examples below were created using the 2007 Washington County, Minnesota data included with every download of IMPLAN Pro. Use 2007 for both Event Year and Dollar Year for View.

CREATING A CUSTOMIZED INDUSTRY WITH SALES AND EMPLOYMENT:

A restaurant chain is opening 5 new restaurants in Washington County. They will employee 85 workers and have expected sales of $5,302,995.00. Model the impact of these Restaurants.

1. Return to the Setup Activities page.
2. Create a "5 Restaurants" Activity with a Level of 1.00.
3. Create an Event for Sector 413. Notice when we enter the sales value of $5,302,995.00 into the Industry Sales field, IMPLAN's projected employment is 105 workers. We know that our restaurants are only employing 85. So we will need to change this number.
4. Change the Employment value to 85. Changing this field changes the underlying calculations for Direct Effect of this Event. This prompts the Custom Event screen.
5. Select Yes in the Custom Event screen. Notice that red exclamation points mark the fields that have had their underlying calculations altered by our changes.
6. Create a Scenario to model the effects of our 5 New Restaurants.
   Name the New Scenario, leave level at 1.00 and Analyze.
7. View Results
8. If you would like to compare this to an un-edited restaurant industry, you can go back and re-enter the original Industry Sales value and model the effect with the 105 workers.

CREATING A CUSTOMIZED INDUSTRY WITH INDUSTRY SALES, EMPLOYMENT, AND EMPLOYEE COMPENSATION:

Andersen Windows is opening a special branch that does specialty wood working. They will employ 12 people, will produce $25,000,000.00, and get paid $1,292,436.

1. Return to the Setup Activities page.
2. Create a new Activity for Andersen "Specialty Windows".
3. Create an Event for Sector 99 for $25MM.
4. Change Employment to 12.This prompts the Custom Event screen. Select Yes. Notice all fields are marked with a indicating that we have modified the industry for this Event.
5. Set Employee Compensation to $1,292,436.
6. Create a Scenario to model the effects of our new Industry.
7. Name the Scenario, leave level at 1.00, and Analyze.
8. Compare Results to the first Andersen Windows Scenario above.

CREATING A CUSTOMIZED INDUSTRY WITH EMPLOYMENT AND EMPLOYEE COMPENSATION:

A Greenhouse is going to hire 25 interns and pay them a special intern wage. Their Employee Compensation is expected to be $285,360.00.

1. Return to the Setup Activities screen.
2. Create a new Greenhouse "Intern" Activity. Leave Level at 1.00. 
3. Create a new Event for the Activity using Sector 6.
4. Enter 25 in the Employment first. We need to enter the employment value first so that we get the appropriate output value associated to employing 25 people. After this we will change the Employee Compensation to our special wage rate.
5. Change the Employee Compensation value to $285,360.00. Answer Yes in the Custom Event screen.
6. Create a Scenario. Leave level at 1.00, and Analyze the effects of the "Intern" Activity.