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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.

Click to download a description of POLICOM's economic development tools.

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 1997, POLICOM has created more than 300 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

The Economic QuickFix is a fast, inexpensive evaluation of your area which identifies major geographic - economic or community related problems which could be impeding economic growth and provides recommendations for curing these issues.

Download a description of a QuickFix study.

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.

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 four areas of your choosing.

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

Download an actual Historical Study - Click Here.

Economic Development Goal 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.

After the Historical - Comparative Study is completed, this study creates economic projections for the area under the assumption "nothing is done" by the community to influence its economic future.

Then three reasonable, achievable goals are established. POLICOM pours money into the economy by way of the creation of new, primary industry jobs for each.  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.

Download an actual Goal Study - Click Here.

Target Industry Study

Every economic development organization has limited time and financial resources.  Communities need to focus on the industrial sectors, which are most likely to locate to or expand in the area which will help you achieve your economic goal.

From the information provided in the Goal Study, 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 Strategic 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.