Economic Studies

Economic
Studies

POLICOM Corporation's economic studies are "tools" which communities use to build stronger local economies. Written in an understandable manner, community and business leaders can immediately fully understand the condition of their local economy and follow a logical path to improve the situation.

Typically created for economic development organizations, county, state and regional governments, and Chambers of Commerce, the series of studies are used to plan the economic future for an area.

Since 1998, POLICOM has created more than 150 studies for communities, state associations, and private businesses which address the condition of a local or state economy and how to improve it.

The core studies, beginning with the Historical, Comparative Economic Analysis, are linked providing a step by step process from understanding the economy to verifying if you are improving your economy.

Specialty studies can also be created which address a specific issue or problem faced by an area.

The following is a brief description of POLICOM's core studies.

Studies

Historical - Comparative Economic Analysis

Discover the true essence of your local economy, is it growing or declining and what is causing this to happen.

The analysis presents a 25-year economic history of the area, visually and numerically, so you can quickly understand where the economy was in the past, and where it is today, and how it compares to the rest of the nation.

Download a sample PDF of an entire study.

Section 1 presents the existing composition, impact, and history of several important economic categories. By viewing the charts and graphs provided, you can quickly discern the most important factors influencing your area.

Section 2 examines the “Level of the Economy” by studying the growth in the “quality and size” of the economy as it influences the economic quality of life for the people living and working in the area. Your area is visually compared to the strongest and weakest local economies in the United States to determine your relative improvement.

Section 3 compares the growth rate and economic importance of more than 70 items over several time periods to the rest of the nation and several other areas. You will be able to immediately discover short and long-term trends and shifts in the importance of various economic sectors.

Most importantly, the data for your area is compared to the USA, your state, and three areas of your choosing.

This study is 146 pages and has been redesigned for 2011.

A study can be created for any metropolitan area, micropolitan area, or county. Sorry, data is not available at the city level.

Want more information about a Historical, Comparative Study, email here.

Economic Development Goal Setting Study

Don’t let chance determine your area’s economic future. Set an economic goal with annual employment and wage milestones, which, when achieved, will increase the size and improve the quality of your economy.

This study determines where your economy was in the past, where it is today and why, and where it is likely to go if nothing is done to influence its future.

After the projections are created, a reasonable, achievable goal is established. POLICOM pours money into the economy by way of the creation of new, primary industry jobs. The economic impact of these jobs is calculated and the economic goal is established.

Annual milestones for the number of new, primary jobs are created which provide the community with realistic stepping stones, a ladder to climb, which will result in a vibrant economy.

Target Industry Study

Every economic development organization has limited time and financial resources. Focus on those industries, which are most likely to locate to or expand in your area which will help you achieve your economic goal.

POLICOM examines the geographic - economic characteristics of the area, including its present day workforce.

Then POLICOM evaluates more than 2,000 industrial sectors and determines which:

1) are growing nationally, in your state,
2) are primary in nature,
3) will pay a wage which will meet your Goal,
4) will be able to utilize your area's geographic, economic assets
5) and cope with your liabilities.

The marketing effort for the community should focus upon this list of targeted industrial sectors.

Community Economic Development Plan

Utilizing the information gathered in its studies (Historical, Goal, Target) and with the input of community leaders, POLICOM creates a step-by-step program which implements a comprehensive economic development program for the community.

An "Economic Summit" is held which produces important ideas and opinions from the community regarding the strengths and weaknesses of the area and the most important economic issues facing the area. A special workbook is provided to each attendee prior to the event.

The geographic economic assets and liabilities of the area are examined and recommendations are made for what needs to be done on an annual basis to build a strong economy.

Economic Development Performance Evaluation

Now, an independent third party can determine if you met your economic development milestones.

The Flow of Money

The Flow of Money is a 28 page booklet written to assist community leaders in understanding the nature of their local economy. It presents the “basics” on what every community needs to do to cause a growing economy or to stop decline.

The booklet explains how money flows into and out of a community, how primary industries create wealth for an area, and which industries a community should focus upon to cause economic growth. It is in essence "Economic Development 101."

You are welcome to download the PDF version of The Flow of Money, distribute it to your community electronically or have your local printer create color versions.

POLICOM does not have pre-printed versions available. Your local printer should be able to provide you with a quote for a limited printing for your board of directors or local elected officials from the PDF.