All Things Data: Tools for Economic Development Practitioners

All Things Data:
Core Tools for Economic Development
Practitioners
2016 NEDA Annual Conference
New Haven, Connecticut
September 12, 2016

About Camoin Associates
 Economic Development Strategic Planning
 Market Analysis & Financial Feasibility
 Economic & Fiscal Impact Analysis
 Evaluation & Benchmarking Indicators
 ED Communication & Marketing
Recommendations
 Workforce Development
 Stakeholder Engagement
Our Services

Data Resources
EMSI Analyst
• Historic and projected labor market data, including job counts by
NAICS and SOC, workforce demographics, educational completions,
and industry earnings and sales
• Input-output analysis used for economic impact
• Job postings analytics
• Subscription required
• www.economicmodeling.com
ESRI Business Analyst Online
• Location-based market data: Ability to select or draw a region and
obtain market data specific to that area, including reports on
demographics, housing, consumer spending, and business sales
• Create basic maps from market data
• www.esri.com/software/businessanalyst
• Real estate data by market and submarket, including price points,
vacancy rates, and property characteristics, for all use types.
• www.costar.com
IBISWorld
• Continuously updated market reports for industries at the 5-digit NAICS
level
• Includes information on industry performance and outlook, key industry
drivers, supply chain, revenue, employment, and major companies
• www.ibisworld.com
ReferenceUSA
• Searchable database of U.S. businesses that is filterable by industry,
geography, sales, employment count, and other characteristics
• Free access through many libraries
• www.referenceusa.com
Your Economy
• Data on number of establishments, jobs, and sales by establishment stage
(number of employees) at the county and MSA levels, as well as
expansions, contractions, startups, closings
• Substantial amount of data available free
• www.youreconomy.org

OnTheMap
• Tool for understanding commutation patterns for any region
• Data on worker inflow and outflow, by industry, salary, and age
• Public access
• http://onthemap.ces.census.gov/
Census Flows Mapper
• Map county-to-county migration flow patterns across the United
States
• Public access
• http://flowsmapper.geo.census.gov/flowsmapper/flowsmapper.html
Realty Rates
• 3 quarterly reports (investor survey, developer survey, and market
survey) that provide data on real estate markets, financing terms for
various use types, discount rates, capitalization rates, and price
points
• Useful for building pro forma models
• www.realtyrates.com
PolicyMap
• Online data mapping tool, GIS-based
• Demographics, socio-economics, mortgages and home sales, health
statistics, jobs and employment and more
• Basic data and tools free, subscription required for more robust
analysis and data access
• www.policymap.com
• Data and tools used to benchmark the economic performance of
industry clusters across the United States
• Led by Harvard Business School's Institute for Strategy and
Competitiveness in partnership with the U.S. Department of
Commerce and U.S. Economic Development Administration
• Public access
• www.clustermapping.us
CBRE, Cushman and Wakefield, Colliers, Grubb and Ellis, and
other real estate brokerages
• Real estate market reports on various use types (multifamily, retail,
office, industrial) for metro areas with information on development
activity, absorption, vacancy, and pricing
• Free report downloads
Data Resources

Bureau of Labor Statistics (U.S. Department of Labor)
• Data on employment, unemployment, pay and benefits, inflation,
productivity, and other labor-related statistics
• Public access
• http://www.bls.gov/data/
Bureau of Economic Analysis (U.S. Department of
Commerce)
• Data on GDP by industry, consumer spending, international trade
• Regional Input-Output Modeling System (RIMS II) for producing
regional multipliers used in economic impact studies
• Public access
• http://www.bea.gov/itable/index.cfm
Data Resources

No data source is perfect
 Reliability/consistency
 Geography
 Accessibility
 Cost
Today’s goal: Broaden your data toolbox and learn
how your organization can apply these tools.

Today’s Speakers
“The Impact of the Deal”
Paul Scheuren
Principal, Economist
Impact DataSource
paul@impactdatasource.com
“10 Musts to Economic Development Data”
Stevie Field-Chavez
Vice President of Regional Sales
GIS Planning Inc.
sfield@gisplanning.com
“How to Use Data & Local Resources for
Informed Decision-Making & Planning”
Dr. Don Levy
Director
Siena College Research Institute
dlevy@siena.edu

Impact of the Deal
BY IMPACT DATASOURCE
SEPTEMBER 2016

Economic Developer’s Dilemma
9© 2016 IMPACT DATASOURCE

© 2016 IMPACT DATASOURCE 10
Paul Scheuren, Impact DataSource Economist &
Principal
Economic consulting firm based in Austin, TX
◦ 20+ years experience evaluating economic
development deals
License models to 60+ EDOs nationally and
provide reports “as needed” for many more
Podcast: Economic Development Secrets

^ Outline
of Economic
Development
as a Process

Deal Impact Analysis
Go beyond economic impact
◦ More than just jobs, salaries, economic output
Economic developers need to evaluate the “deal”
◦ Fiscal impact is where everything comes together
◦ Who gets the revenue?
◦ How do incentives feedback into the analysis?
Prerequisites before Deal Impact Analysis
◦ Due Diligence Checklist

City Net Benefits

Impact of the Deal
Communicate effectively
◦ Business/Consultants
◦ Board/City Council
Consistent methodology and messaging
◦ Board/Council can understand and get comfortable
with the approach
◦ Compare apples and oranges
◦ Convert the project to Net Benefits so you can compare
360-degree view of the project
Sets up compliance and performance

Contact
Paul Scheuren
512.524.0892
www.ImpactDataSource.com
www.TheImpactDashBoard.com
Office Hours
Wednesdays
2-4pm Eastern

10 MUSTS TO ECONOMIC
DEVELOPMENT DATA
Northeastern Economic Developers Association
Stevie Field-Chavez
GIS Planning, Inc.

#1 – ACCURATE, UPDATED AND SOURCED

Ensure ALL the critical types of data are found on your website:
 Demographics: population, age, sex, race, income, and educational attainment, etc.
 Labor data - types of employees and businesses in your area.
 Consumer & retail data: detailed consumer expenditures and retail potential, modifiable radius/
drive time around properties.
 Business and industry data: right down to the 6-digit NAICS level - MUST be current!
 Geographic data: infrastructure, incentive zones, parks, educational institutions, energy,
telecommunications and points of interest.
 CURRENT!!
#3 – ROBUST

Be relevant to users needs:
• Suitable sites and buildings exist everywhere.
• What site selectors and business decision makers really want to know is why chose
your location over any other?
• Use your data to tell the story of your location. What can you offer in terms of
workforce, infrastructure, quality of life, consumer expenditures, talent etc..?
#4 – RELEVANT

#5 – INTERACTIVE AND DYNAMIC
Consider using various analytical tools:
A tool that compares your community or region (may not be next door).
Property search and selection tool
Ability to search by pinpoint, radius, drive-time and polygon tools are very helpful
Posting static
PDF’s on your website
is boring

#6. GRANULAR
• Granular data is detailed data.
• If you are a state, show community data
• If you are regional, show not only your regional
data, but provide the options of looking at
county, city and town data (interactive)
• Allow the ability to view the data from the
macro level down to block groups (the closer the
better).

#7. VISUAL – A PICTURE SPEAKS 1,000 WORDS
(OR IN THIS CASE, MAKES DATA MORE INTERESTING)
Would you
rather look at
this…

• ANALYTICS!!
• What pages are they looking at?
• Where they are coming from?
• Does this tie into an event, trade show,
conference or promotion?
• Are they looking at an available
property? Which one?
• URL?
#9 – EASILY TRACKED & ANALYZED

#10 – MUST BE FULLY OPTIMIZED FOR
MOBILE

BONUS: MAKE YOUR DATA (AND ALL OTHER
IMPORTANT INFORMATION), EASY TO FIND

WHAT’S A PRESENTATION WITHOUT A FEW
QUOTES…

THANK YOU!
GIS Planning, Inc.
Stevie Field-Chavez
VP, Sales
615.517.5505
www.gisplanning.com

• Difficult concept to measure
• Different Data Collection Approaches:
Use existing data
(e.g. housing characteristics, economic
statistics, mortality rates, etc…)
Collect primary data
(e.g. design questionnaire based on comprehensive
set of topics that define a community)
Combine both
(e.g. a mix of primary and secondary
data collection)

DataHaven’s Mission: “To improve quality of life by collecting, interpreting and
sharing public data for effective decision-making.”

Dates: April - October 2015
16,219 Residents of the State of Connecticut
(70% via landline, 30% via cell phone)
Random digit dialing (RDD)
MOE +/- 1.1 percentage points with a 95%
level of confidence
Unique weighted estimates for as many as 50
different groups in the state of Connecticut

• Use multiple indicators from
each topic to understand how
CT residents perceive their
quality of life, across different
regions and demographics
Civic EngagementPersonal Health
Personal Safety Financial SecurityQual. of Community
Personal Wellbeing
• Satisfaction
• Trustworthiness of people
• As a place to raise children
• Job done by police
• Neighborhood safety
• Personal security
• Financial management
• Availability of funds
• Access to needed services
• Chronic disease
• Regularity of exercise
• Smoking/drinking
• Volunteering
• Perceived influence in gov.
• Registered to vote
• Anxiety/depression
• Happiness/enjoyment
• Perceived overall health

• Data reduction technique Factor Analysis
• Group and test multiple indicators to measure a
theoretical latent variable
Case Study: Quality of Community

Component Matrix
Component
1
Are you satisfied with the city or area where you live? 0.613
As a place to live, is the city or area where you live getting much better, getting somewhat better, remaining about the same, getting
somewhat worse or getting much worse?
0.529
How responsive local government is to the needs of residents 0.686
The availability of the goods and services that meet your needs 0.647
The job done by the police to keep residents safe 0.656
The ability of residents to obtain suitable employment 0.616
As a place to raise children 0.754
The condition of public parks and other public recreational facilities 0.643
Over the past 12 months, have you volunteered for or through an organization or helped out as a volunteer to address needs in your
community?
0.107
When you think about your present residence, would you say you are very satisfied, somewhat satisfied, somewhat unsatisfied, or
very unsatisfied with its affordability?
0.52
Many stores, banks, markets or places to go are within easy walking distance of my home. 0.047
There are safe sidewalks and crosswalks on most of the streets in my neighborhood. 0.11
There are places to bicycle in or near my neighborhood that are safe from traffic, such as on the street or on special lanes, separate
paths or trails.
0.381
My neighborhood has several free or low cost recreation facilities such as parks, playgrounds, public swimming pools, etc.
0.379
I do not feel safe to go on walks in my neighborhood at night. 0.381
People in this neighborhood can be trusted. 0.571
Children and youth in my town generally have the positive role models they need around here. 0.668
If the fire station closest to your home was going to be closed down by your city or town, How likely is it that neighborhood residents
would organize to try to do something to keep the fire station open?
0.39
Overall, how satisfied are you with your life nowadays? 0.431
In the past 12 months, did you stay home when you needed or wanted to go someplace because you had no access to reliable
transportation?
0.279
In the past 12 months, have you had anyone deliberately vandalize, try to steal, or steal any property that you own, or anyone attempt
to break into your home?
0.253
In the past 12 months, have you had an experience in which someone attacked you, tried to take something from you by force, or
physically threatened you?
0.23
22 items tested

Variable Score
As a place to raise children .754
How responsive local government is to the needs of residents
.686
Children and youth in my town generally have the positive role models
they need around here.
.668
The job done by the police to keep residents safe .656
The availability of the goods and services that meet your needs
.647
The condition of public parks and other public recreational facilities
.643
The ability of residents to obtain suitable employment .616
Are you satisfied with the city or area where you live? .613
People in this neighborhood can be trusted. .571
As a place to live, is the city or area where you live getting much
better, getting somewhat better, remaining about the same, getting
somewhat worse or getting much worse?
.529
When you think about your present residence, would you say you are
very satisfied, somewhat satisfied, somewhat unsatisfied, or very
unsatisfied with its affordability?
.520

11 items “loaded” – indicators of “Perceived Quality of Community”
Satisfaction Questions:
1. Are you satisfied with the city or area where you live?
2. As a place to live, is the city or area where you live getting much better, getting
somewhat better, remaining about the same, getting somewhat worse or getting
much worse?
Rating Aspects of Life Sequence: (excellent, good, fair, poor)
3. How responsive local government is to the needs of residents
4. The availability of the goods and services that meet your needs
5. The job done by the police to keep residents safe
6. The ability of residents to obtain suitable employment
7. As a place to raise children
8. The condition of public parks and other public recreational facilities
Affordability question:
9. When you think about your present residence, would you say you are very
satisfied, somewhat satisfied, somewhat unsatisfied, or very unsatisfied with its
affordability?
Perceptions of others in the community:
10. People in this neighborhood can be trusted.
11. Children and youth in my town generally have the positive role models they need
around here.

Suburban RuralWealthy Urban Periphery Urban Core

Derived using K-means cluster analysis applied to 169 Connecticut towns’ population density,
median family income and percent at or below poverty.

The 5 Connecticuts
Ideal POP Score = 100%
Suburban RuralWealthy Urban Periphery Urban Core
77% 71% 66% 62% 51%

Greater Hartford Region
Ideal POP Score = 100%
77% 62% 59% 50%
Avon/Simsbury
(n=80)
Greater Litchfield
(n=110)
Manchester
(n=250)
Hartford
(n=750)

5 CTs QUALITY OF COMMUNITY FIN. SECURITY PERS. WELL. CHRON. DIS. PHYS. HEALTH PERS. SAFETY CIV. ENG.
Wealthy (980) 0.77 0.87 0.77 0.87 0.71 0.85 0.54
Suburban (3366) 0.71 0.83 0.74 0.83 0.67 0.81 0.49
Rural (1996) 0.67 0.81 0.73 0.82 0.66 0.77 0.49
Urban periphery (6077) 0.62 0.79 0.71 0.81 0.65 0.74 0.43
Urban core (3800) 0.51 0.71 0.67 0.8 0.64 0.6 0.43
RACE
White (11822) 0.65 0.82 0.72 0.82 0.66 0.76 0.47
Black (1698) 0.54 0.71 0.68 0.79 0.64 0.64 0.45
Hispanic (1463) 0.58 0.69 0.67 0.83 0.65 0.66 0.41
Asian (231) 0.66 0.79 0.71 0.92 0.69 0.74 0.39
Other (414) 0.58 0.75 0.67 0.83 0.68 0.68 0.43
AGE
18 to 34 (1885) 0.59 0.73 0.7 0.94 0.65 0.71 0.42
35 to 54 (4026) 0.61 0.76 0.69 0.87 0.64 0.74 0.47
55 and older (9340) 0.65 0.81 0.72 0.76 0.66 0.73 0.46
GENDER
Male (7166) 0.63 0.8 0.71 0.82 0.65 0.75 0.45
Female (9053) 0.63 0.78 0.71 0.82 0.66 0.71 0.46
INCOME
<$15K (1616) 0.54 0.6 0.59 0.74 0.6 0.62 0.39
$15K-$30K (1999) 0.59 0.69 0.66 0.78 0.63 0.67 0.4
$30-$50K (2132) 0.61 0.77 0.69 0.81 0.63 0.7 0.43
$50K-$75K (2095) 0.63 0.82 0.73 0.83 0.64 0.74 0.46
$75K-$100K (1667) 0.65 0.85 0.74 0.84 0.66 0.77 0.48
$100K-$200K (2225) 0.67 0.88 0.76 0.86 0.67 0.8 0.51
>$200K (1052) 0.72 0.92 0.79 0.88 0.7 0.83 0.55

Use Census Data via Multiple Variables to Derive Types of Communities
Conduct/Obtain Large Public Opinion/Behavior/Attitude Data
Use Factor Analysis to Construct Multi-Variable Measure of Difficult to
Directly Measure Underlying Concept, e.g. Quality of Community
Compute POP Scores by Town, by Type of Town
Compare, Study, Make Public, Set Goals
Use Measured Indicators to Build Partnerships and Target Implementations

For more information about data…
 Sign up for Camoin Associates’ monthly economic development newsletter
 Leave your business card for a guide to ED data resources from Camoin Associates
 Come to Camoin’s booth at 10 am tomorrow to “Talk Data”
 Contact today’s speakers:
Paul Scheuren
Principal, Economist
Impact DataSource
Stevie Field-Chavez
VP of Regional Sales
GIS Planning Inc.
Dr. Don Levy
Director
Siena College
Research Institute
dlevy@siena.edu
Tom Dworetsky
Economic Development
Analyst
Camoin Associates
tom@camoinassociates.com
www.camoinassociates.com

All Things Data: Tools for Economic Development Practitioners

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