All Things Data:Core Tools for Economic Development Practitioners2016 NEDA Annual ConferenceNew Haven, ConnecticutSeptember 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 ResourcesEMSI 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• Subscription required• www.esri.com/software/businessanalyst

• Real estate data by market and submarket, including price points, vacancy rates, and property characteristics, for all use types.

• Subscription required• 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

• Subscription required• 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• Subscription required• 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 ScheurenPrincipal, EconomistImpact DataSourcepaul@impactdatasource.com “10 Musts to Economic Development Data”Stevie Field-ChavezVice President of Regional SalesGIS Planning Inc.sfield@gisplanning.com “How to Use Data & Local Resources for Informed Decision-Making & Planning”Dr. Don LevyDirectorSiena College Research Institutedlevy@siena.edu

Impact of the Deal

BY IMPACT DATASOURCESEPTEMBER 2016

Economic Developer’s Dilemma

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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

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CRUDE ̂ Outline of Economic Development as a Process

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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

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City Net Benefits

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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

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Contact Paul Scheuren

512.524.0892

paul@impactdatasource.com

www.ImpactDataSource.com

www.TheImpactDashBoard.com

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Office HoursWednesdays

2-4pm Eastern

10 MUSTS TO ECONOMIC DEVELOPMENT DATA Northeastern Economic Developers Association

Stevie Field-ChavezGIS Planning, Inc.

#1 – ACCURATE, UPDATED AND SOURCED

#2 – CUSTOMIZED

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 DYNAMICConsider using various analytical tools: A tool that compares your community or region (may not be next door). Property search and selection toolAbility to search by pinpoint, radius, drive-time and polygon tools are very helpfulPosting static

PDF’s on your websiteis 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…

Or this?

#8. EASILY EXPORTED & SHARED

• 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, Sales615.517.5505

sfield@gisplanning.comwww.gisplanning.com

All Things Data: Core Tools for Economic Developers

Measuring Community Wellbeing in the State of ConnecticutDr. Don Levy

September 12, 2016

• Difficult concept to measure• Different Data Collection Approaches:

Measuring Community Wellbeing

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.”

Partnership with DataHaven

SRI’s Approach: MethodologyDates: 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

COMMUNITY WELLBEING INDICATORS

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

FACTOR ANALYSIS

• Data reduction technique Factor Analysis• Group and test multiple indicators to measure a

theoretical latent variable

Case Study: Quality of Community

Component MatrixComponent

1Are you satisfied with the city or area where you live? 0.613As 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 0.686The availability of the goods and services that meet your needs 0.647The job done by the police to keep residents safe 0.656The ability of residents to obtain suitable employment 0.616As a place to raise children 0.754The condition of public parks and other public recreational facilities 0.643Over 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. 0.047There are safe sidewalks and crosswalks on most of the streets in my neighborhood. 0.11There 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. 0.381People in this neighborhood can be trusted. 0.571Children and youth in my town generally have the positive role models they need around here. 0.668If 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? 0.431In 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

FACTOR ANALYSIS22 items tested

Variable ScoreAs 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 .616Are you satisfied with the city or area where you live? .613People in this neighborhood can be trusted. .571As 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

FACTOR ANALYSIS11 factor loadings > .5

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 residents4. The availability of the goods and services that meet your needs5. The job done by the police to keep residents safe6. The ability of residents to obtain suitable employment7. As a place to raise children8. The condition of public parks and other public recreational facilitiesAffordability 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.

FACTOR ANALYSIS

A Window on the DataSuburban RuralWealthy Urban Periphery Urban Core

The Five Connecticuts

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

The 5 ConnecticutsIdeal POP Score = 100%

Percent of the Possible (POP) Scores for “Quality of Community”

Suburban RuralWealthy Urban Periphery Urban Core

77% 71% 66% 62% 51%

Greater Hartford RegionIdeal POP Score = 100%

77% 62% 59% 50%

Avon/Simsbury (n=80)

Greater Litchfield (n=110)

Manchester (n=250)

Hartford (n=750)

Percent of the Possible (POP) Scores for “Quality of Community”

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

POP Scores by Demographics

Our Approach

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

Questions & Discussion

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 ScheurenPrincipal, EconomistImpact DataSourcepaul@impactdatasource.com

Stevie Field-ChavezVP of Regional SalesGIS Planning Inc.sfield@gisplanning.com

Dr. Don LevyDirectorSiena CollegeResearch Institutedlevy@siena.edu

Tom DworetskyEconomic Development AnalystCamoin Associatestom@camoinassociates.com

www.camoinassociates.com