As budgets get tighter and tighter many higher learning organizations have to justify their budgets to policy makers.  This justification normally comes in the form of a economic impact statement that demonstrates the economic impact the organization has on the local economy, showing in dollars and jobs that are supported by the activities and students and graduates.   In the past Colleges and Universities normally would have to hire a consultant or ask the economics department for a costly survey based study.   Now, however, the IMPLAN system can help even the non-economist produce accurate, defendable and reproducible results in just a few steps.  

Many predominate colleges and universities use the IMPLAN software here is a list of just a few of our customers:

Al Akhawayn University, Morocco Alabama A&M University Albany State University Alfred University Allegheny College Arizona State University Arkansas State University Armstrong Atlantic State University Arkansas Tech University Auburn University Augusta State University Austin Peay State University Blinn College/SBDC Bowling Green State University California Polytechnic State University California State University, Chico California State University, Fresno California State University, Fullerton California State University, Northridge California State University, Sacramento California State University, Stanislaus Calvin College Carthage College

Central Michigan University Chadron State College Chang Jung University, Taiwan Citadel College Clarion State College Clemson University Cleveland State University Coastal Carolina University Coe College College of Charleston College of Technology, Buffalo College of William & Mary Colorado College Colorado State University Columbia University Columbus State University Cook College Rutgers University Cornell University Covenant College Creighton University Drexel University Duke University Eastern New Mexico University Eastern Washington University Elon College Flathead Valley Community College Florida A&M University Florida Gulf Coast University Florida International University Florida State University Fordham University Fort Hays State University Fort Valley State College Frostburg State University

Gardner-Webb University George Mason University George Washington University Georgia College Georgia Southwestern State University Georgia State University Georgia Tech. Hamline University Hebrew University of Jerusalem Heidelberg College Henderson State University Humboldt State University Idaho State University Indiana University, South Bend Iowa State University Istanbul Univeristy, Turkey Kansas State University Kean University Kennesaw State University Kyushu University, Japan Louisiana State University Marietta College Marshall University Michigan State University Middle Tennessee State University Middlebury College Minnesota State University-Moorhead Mississippi State University Montana State University Murray State University New Mexico State University New School University Nicholls State University

The IMPLAN system will build a virtual economy based off of your unique area of interest,  Be that a City, County or State or any level in-between, and allow you to enter in events that describe the problem that you are working on.

Step one: Choose your study area. So lets say that your university serves a three county region in Wisconsin that includes Saint Croix, Pierce and Dunn counties.   These counties would be your study area, or the area that you want to see the impact of your college on.

Step two: Describe you’re the question you are trying to answer. The IMPLAN software will ask you to enter a few things describing what type of information you are trying to get out of the model.  Things like why type of business are you working with, In this example we are going to choose a private college or university.   The IMPLAN software will also need to know a few things about the your university, like what the annual budget is, and / or the number of employees in the college.    Etc….

   

THE ECONOMIC IMPACT OF JAMES MADISON UNIVERSITY ON THE HARRISONBURG/ROCKINGHAM COUNTY AREA AND THE COMMONWEALTH OF VIRGINIA

INTRODUCTION

James Madison University significantly impacts the lives of individuals within the Harrisonburg City and Rockingham County area. As a major comprehensive higher education institution with more than 12,000 students, JMU enriches the local community through its educational, cultural, research, and public service activities. The presence of JMU has provided a stable source of jobs and income for a variety of individuals and businesses for more than 80 years.

The purpose of this study is to describe the economic benefits provided to the local community and the Commonwealth by JMU in the form of estimated dollars spent in the community and full-time equivalent employment related to the University for FY95. It is recognized that JMU also places demands on the local community in the form of its need for public services, its exemption from local taxes, and the large number of employees, students, and visitors who are annually attracted to the area. It is not the purpose of this study to address these issues, but it should be noted that they exist and that the University has an appreciation of how it impacts the community in ways that at times present challenges as well as opportunities.

The last significant study of JMU=s economic impact was published by the Office of Institutional Research in November 1992. The following study employs essentially the same methodology and, in some areas, assumes no change in expenditure patterns.

The remainder of this report describes the methodology employed, the results of the study, and a summary of the University's economic impact.

Read more at: http://www.jmu.edu/instresrch/resrchstud/economic/econimpt.htm 

The Arizona Rural Policy Institute at the W. A. Franke College of Business at Northern Arizona University was retained to conduct an economic impact analysis of the Northern Arizona Center for Emerging Technologies (NACET). NACET is a high-tech business incubator funded by the City of Flagstaff and a broad selection of public and private enterprises in an attempt to help diversify the economy and create high-quality jobs in Flagstaff.

Business incubators are a tool many communities use to encourage business growth and survival. Incubators are typically locally-based institutions that provide shared physical space and business support services to new and developing firms. The founding principle of business incubators is to encourage the creation of income and jobs within the local community. They also create linkages among firms inside and outside the local economy. Research by Markley and McNamara (1995) has shown that the costs of creating jobs and income through incubators are competitive with those associated with attracting manufacturing investment from outside the local community. Markley and McNamara argue that incubators can have an impact on communities that are not well-positioned to attract external investment due to their location or a lack of a manufacturing base.

Read more at: http://www.cba.nau.edu/rpi/projects/NACETEISFinal.pdf