Hospital Redevelopment

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    IMPLAN Support
    Hi Earnest, Depending on the data year that you are using: if 2012 data in the 440 sectoring scheme then Sector 39, if 2013 data in the 536 sectoring scheme then Sector 62 (Maintenance and repair construction of nonresidential structures. I also wanted to ask you, how substantial the redevelopment is as if it is substantive, we recommend the new construction sector. Thank you!
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    earnestlloyd
    What is considered "substantial redevelopment"? Is that by a dollar or square footage amount?
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    earnestlloyd
    What is considered "substantial redevelopment"? Is that by a dollar or square footage amount?
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    IMPLAN Support
    Hi Earnest, Unfortunately, it is nothing that clear. If it's most refurbishing; new wallpaper, new carpets etc. It is more like the spending pattern for Maintenance & Repair. If you are doing structural changes (new wiring, plumbing, drywall etc) it's more like new construction. Thanks!
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    earnestlloyd
    1. Was just told that the redevelopment will last over 3 yrs. Am I supposed to take the estimated annual employee compensation and multiply by 3? If not that, then what? 2. The project is supposed to cost over $215 mil. I know will be entering the activity as an industry change (sector 52 for event). If I enter the value for employee compensation, then where do I emplace the project cost of $215 mil?
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    IMPLAN Support
    Hi Earnest, Thank you for the additional information. 1. If you wish to look at the impact of the redevelopment over 3 years, then you will either need to know the breakout over the 3 years OR if you do not know, then you can take the total value that you do have, Industry Sales or Employee Compensation and divide that by 3. When viewing your results for employment, the employment results for each year should not be totaled together from year 1 to year 2 or year 2 or year 3. However, you can run your impact as a roll up using the total value, if you did not want to run it over 3 years. As a caution this would produce overestimated numbers due to not being able to adjust for inflation. You would just need to know the year of the dollars and you can run it. When you view your results, you can adjust the Dollar Year for View, to view the results in your Event Year. When viewing your employment results for this methodology, the employment impact needs to be divided by 3. 2. I recommend, as IMPLAN has an order of operations, to first enter your Industry Sales value which would be $215MM then you can over-ride the value that IMPLAN generates in the Employment Compensation field. In your construction cost, you will want to be sure that that land and furniture, fixtures and equipment are not included: https://implan.com/index.php?option=com_content&view=article&id=252 Additional thoughts about construction impacts: https://implan.com/index.php?option=com_content&view=article&id=183
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