Analyzing internship program
Hello, our client wants to model the impacts of their internship program. Client receives $10,000 per year from state and federal funding sources. They use the entirety of this funding to pay student interns to complete tasks for local businesses. The interns are student employees (part time temp) at a higher education institution. Client wants to know the impact (or perhaps better stated) the cost benefit to the community. The tasks range from website design, graphic design, videography, and more. Basically put, the interns perform these services at no cost to the business, because the businesses they help do not have the resources to afford these types of services. We know how many hours the interns worked, how much we paid them, and we have an estimation of how much the services would have cost if a professional frim was hired. Is it possible to model this with IMPLAN? Here is a very basic example to illustrate, these are not real numbers, just for examples-worth.
Intern 1 was paid $4,000 in total in 2022 to create 10 websites at no cost to the businesses. The value of the same services would have been $20,000 if the business had paid a firm to do the same work.
Intern 2 was paid $4,000 in total in 2022 to create 10 graphic designs at no cost to the businesses. The value of the same services would have been $50,000.
Intern 3 was paid $2,000 in total in 2022 to create 5 videos at no cost to the businesses. The value of the same services would have been $30,000.
So, here is what we know:
- 3 total part time employees were paid a total of $10,000 to render services
- Services were provided within a 15 county geographic region
- The total value of the services are valued at $100,000
Is this possible in IMPLAN?
So essentially the only impact here is going to be the actual wages paid to the interns, which you can absolutely model within a 15 county Region. Our support article - Combining Regions - walks through how to set up a Combined Region in IMPLAN Cloud. Again, that hypothetical value of $100k in services is not really relevant here, only the actual dollars paid to these workers, which can be ran in IMPLAN as Labor Income Events.
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