Dramatic increase in Value added

stanger

June 17, 2014 18:28

so i'm looking at a particular sector of the economy in Louisiana. I have data from 2011 and I'm now crunching the 2012 data. Employment, labor income, and output are all up (From the previous year), but value added is up considerably more (double that of the % increase in output). What would be a likely economic interpretation? Corporate profit taxes are up significantly as well. I think this is an insight but having used Implan very little, i just want to be certain. All other tax rolls are up also. Corporate profits taxes though make those seem paltry in comparison. Any thoughts? Companies sitting on cash?

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Comments

7 comments

IMPLAN Support
June 18, 2014 19:15

Hello Shaun, Thank you for pointing this out to us. We are aware of a problem with the OPI data and are currently working on a resolution. We will also be incorporating the updated GSP data from the BEA (we had to use lagged data the first time around due to the government sequestration last Fall). We will send you the new data as soon as they are ready. Sincere apologies for the inconvenience and we anticipate being able to be back to you in this regard soon.

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stanger
June 19, 2014 23:22

ok. Any ballpark on the timeframe?

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IMPLAN Support
June 24, 2014 00:59

Hi Shaun, We have the data available for Congressional Districts now. Please give us a call at 651.439.4421 x 2 and we will be glad to setup a manual download session for you to get your new data. You will need to have access to your system as we will need to get some information from your installation of IMPLAN to start the manual download process. Please also let us know if you have more than one system with IMPLAN data installed. We typically setup manual downloads via a logmein session at logmein123.com. We apologize again for this issue.

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stanger
July 02, 2014 22:53

Thanks. I did the logmein123 session and have rerun the data but still have almost the same numbers. essentially a 25% increase in Value Added for the industries under observation (Forestry Sector). I've spoken to people on the ground here and that increase seems unlikely. The updated Employment, Wages, and Output values are suimilar to before and therefore are still considered reasonable. The Corporate Tax collected (federal) shows an increase from 11 to 12 of 64 to 141 million. State corporate tax are also suspicious with about a 50% increase. Shaun

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IMPLAN Support
July 04, 2014 00:31

Hi Shaun. We compared 2011 V2 to 2012 V1 and 2012 V2 for the state of LA for the forestry sector (sector 15) and don't see the differences. Our computations are shown below. For all industries 2011v2 - Total VA was 247.2 bill, TOPI was 14.5 bill. 2012 v1 - Total VA was 261.4 bill; TOPI was 15.1 bill 2012 v2 - Total VA was 212.9 bill; TOPI was 15.4 bill For sector 15: 2011v2 - Output = 161.2 mill; VA = 81.4 mill 2012 v1 - Output = 218.5 mill; VA = 105 mill 2012 v2 - Output = 202.3 mill; VA = 82.1 mill Are you asking about forest products manufacturing as well? If your concern is a number of forestry sectors, then send your 2011 and 2012 (zipped) that contain the impact vectors for each for a comparison to implangroup@implan.com.

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stanger
July 04, 2014 18:10

ok, will do. Thanks for the reply. Its around 16 industries (wood products, logging, pulp and paper, etc.) I'll check it through again and if i still get the large number I'll email the address you sent.

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IMPLAN Support
July 07, 2014 18:37

Thank you! We will keep on eye out for your e-mail.

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