New Soybean Industries
Hello, I am just starting work on a project where I am looking at the contributions of the soybean industry in my region. I am going to do a MRIO with 5 major production regions to look at the relative contributions of the production and processing of soybeans. This part is straight forward, 1 Oilseed farming and 45 soybean and other oilseed processing sectors make up the industry in this part of the analysis. Recently, an edamame (vegetable soybean) processing facility opened in our area. The firm has contracted production of edamame on farms in the state. I was asked to include this in my analysis. So the edamame farms and processing plant represent two new industries that do not exist in the IMPLAN model. Production of vegetable soybeans is more like green bean production than traditional soybeans. The processing of edamame is greatly different than the oilseed processing sector too. I have the opportunity to work with the processing facility manager to collect primary data on both production and processing. Here's the question: could you give me advice on the best way to "create" these two new industries for vegetable soybeans production and processing? I've been looking into Analysis by Parts or just creating two new IMPLAN sectors. I have the luxury of being able to ask for whatever data I need to accomplish the task of estimating the economic impact of these two new sectors. Would you recommend ABP or creating new sectors? What would the data requirements be to accomplish both of these (in a nutshell)? I want to keep my list of questions at a minimum as this is a new business and I don't want to bog them down with lengthy surveys. I am at the beginning of the project so your advise is greatly appreciated and will be valuable to me as I draft up my set of questions for the processing facility manager.
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