Population growth
Good Morning- We are looking into a project which expects to build a set of new homes/condos and will likely attract new residents (probably retirees) to the region of analysis. We would like to model the impact of new spending by these residents.
We expect that a way to construct this would be to change the number of households in the region, but I don't think there is a direct way to do that. This would assume that the new households spend similarly to current residents (income level is yet to be determined).
Absent changing the households, is there a good mechanism to simulate a population growth?
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IMPLAN SupportHi Jeremy. Thank you for your post! We recommend that you do a Household Income Change- Activity Type. While you will not be able to change the number of households in the region, the Household Income Change will allow you to enter the income range so as to model the impact of their spending in the region. You will be asked to enter not only the Household Income Range and the expected Household Income Change. In order to account for the new spending of the residents, those residents need to be new to your study region. If they are not new to the region, then their spending is already accounted for as they are just moving from one address to the other, within the same region, which has no, or very little, net new impact. It is important to note if you are looking at any other operational spending associated to these new living areas, that you need to be careful as regards double-counting. If you are wanting to create age demographic spending patterns you can pull data for CES and bridge to IMPLAN Sectors to create your own spending pattern for your anticipated new residents, but there would be a lot of leg-work involved in this, and there is unfortunately now real way to estimate the Household Income value from the Model. Thanks0
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