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Economic Impact Studies: Practical Tips & Examples - Lynn Vaccaro


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Economic Impact Studies: Practical Tips & Examples - Lynn Vaccaro

  1. 1. Economic Impact Studies: Practical Tips & Examples 9:00 Estimating the Number of Great Lakes Jobs Lynn Vaccaro Michigan Sea Grant 9:15 Quasi-Experiments in Empirical Economics: An Application to Extreme Levels of Lake Michigan Michael Moore University of Michigan 9:30 Recreational Fisheries: Using Customer Surveys to Assess Economic Impacts Dan O’Keefe Michigan Sea Grant Extension 9:45 Estimating the Benefits of Great Lakes Restoration Jennifer Read Michigan Sea Grant 10:00 Words of Advice, Discussion Chi-Ok Oh Michigan State University
  2. 2. Estimating the Number of Great Lakes Jobs Lynn Vaccaro Coastal Research Specialist Jennifer Read Assistant Director and Research Coordinator
  3. 3. <ul><li>How many jobs do the Great Lakes support? </li></ul>
  4. 4. <ul><li>The Great Lakes Shaped the Development of Our Economy </li></ul>U.S. Army Corp <ul><li>Historically: </li></ul><ul><li>Passage for exploration and development </li></ul><ul><li>Water Highway for fur, lumber, iron ore, coal, steel, machinery </li></ul><ul><li>Enabled the region to become a manufacturing hub </li></ul>Randy Schaetzl Great Lakes Maritime History
  5. 5. <ul><li>Jobs in industries that: </li></ul><ul><ul><li>Rely on the lakes for key inputs </li></ul></ul><ul><ul><li>Receive an economic advantage from the lakes </li></ul></ul><ul><ul><li>Are significantly influenced by the lakes </li></ul></ul><ul><li>These industries would either not exist or not have developed to the extent that they have reached today without reliance upon the Great Lakes. </li></ul>Defining Great Lakes Jobs
  6. 6. <ul><li>Coastal counties for most industries </li></ul><ul><li>In Michigan, statewide for manufacturing, mining and science </li></ul>Where can we find Great Lakes Jobs?
  7. 7. <ul><ul><li>U. S. Bureau of Labor Statistics </li></ul></ul><ul><ul><li>Quarterly Census of Employment and Wages; Occupational Employment Statistics </li></ul></ul><ul><ul><li>Publicly available </li></ul></ul><ul><ul><li>Consistent geographically and historically </li></ul></ul><ul><ul><li>County level employment for 1000 different industry categories </li></ul></ul>Data Sources
  8. 8. <ul><li>Manufacturing </li></ul><ul><li>Tourism and recreation </li></ul><ul><li>Shipping , including freight transport and warehousing </li></ul><ul><li>Agriculture, fishing and food production </li></ul><ul><li>Science and engineering </li></ul><ul><li>Utilities </li></ul><ul><li>Mining </li></ul>67 Great Lakes Industry Categories, Grouped into 7 Sectors:
  9. 9. <ul><li>Industries: chemical, durable and non-durable goods </li></ul><ul><li>Exclusions: printing, petroleum products </li></ul><ul><li>Jobs: 994,879 </li></ul><ul><li>Wages: $43 billion </li></ul>Manufacturing Steel (Indiana Dunes National Lakeshore)
  10. 10. <ul><li>Industries: parks, historical sites, amusements, marinas, traveler accommodations, boat dealers </li></ul><ul><li>Exclusions: food service, gas, municipal transport </li></ul><ul><li>Jobs: 217,635 </li></ul><ul><li>Wages: $5.1 billion </li></ul>Tourism and Recreation
  11. 11. <ul><li>Industries: water, rail, truck, warehousing </li></ul><ul><li>Exclusions: air, passenger and pipeline transport </li></ul><ul><li>Jobs: 118,550 </li></ul><ul><li>Wages: $5.2 billion </li></ul>Shipping Rogers City 1930s, Erhardt Peters April 2011, Paul Beesley.
  12. 12. <ul><li>Industries: crops, fishing, aquaculture, food and beverage production </li></ul><ul><li>Exclusions: animal production, forestry </li></ul><ul><li>Jobs: 118,430 </li></ul><ul><li>Wages: $4.8 billion </li></ul>Agriculture, Fishing and Food Production DIY Start
  13. 13. <ul><li>Occupations: environment, food, conservation, marine, atmospheric </li></ul><ul><li>Exclusions: most engineering and science occupations </li></ul><ul><li>Jobs: 38,085 </li></ul><ul><li>Wages: $2.2 billion </li></ul>Science and Engineering
  14. 14. <ul><li>Industries: power, water, sewer </li></ul><ul><li>Exclusions: natural gas distribution </li></ul><ul><li>Jobs: 10,980 </li></ul><ul><li>Wages: $880 million </li></ul>Utilities
  15. 15. <ul><li>Industries: coal, metal </li></ul><ul><li>Exclusions: oil, gas </li></ul><ul><li>Jobs: 10,003 </li></ul><ul><li>Wages: $630 million </li></ul>Mining Taconite Processing , PolyMet Iron ore
  16. 16. <ul><li>The Great Lakes Support: 1.51 million jobs, $6.2 billion in wages </li></ul>
  17. 17. <ul><ul><li>Factors that could lead to an Underestimate </li></ul></ul><ul><ul><li>Does not include: Coast Guard, Army Corp of Engineers, railroad workers, self employed and proprietors, domestic workers, farm labor </li></ul></ul><ul><ul><li>Suppressed data due to confidentiality </li></ul></ul><ul><ul><li>Does not consider indirect or induced employment </li></ul></ul><ul><ul><li>Factors that could lead to an Overestimate </li></ul></ul><ul><ul><li>Part time, seasonal and full time jobs counted equally </li></ul></ul><ul><ul><li>Lakes might not influence entire coastal county </li></ul></ul><ul><ul><li>Other Approaches </li></ul></ul><ul><ul><li>Economic Lake Effect? </li></ul></ul>How accurate is this estimate?
  18. 18. Estimating the Number of Great Lakes Jobs Lynn Vaccaro [email_address]