General Electric's Impact on the State of Wisconsin s Economy May 2017
|
|
- Daniel McCormick
- 6 years ago
- Views:
Transcription
1 General Electric's Impact on the State of Wisconsin s Economy May 2017 An Economic Analysis Prepared by:
2
3 INTRODUCTION... 2 WISCONSIN... 4 TOTAL ECONOMIC OUTPUT... 4 EMPLOYMENT... 5 LABOR COMPENSATION... 6 CHARITABLE IMPACT... 6 INVESTMENT... 7 RESEARCH METHODOLOGY... 8 DEFINITIONS APPENDIX REFERENCES
4 General Electric's Impact on the State of Wisconsin s Economy GE provides substantial direct, indirect, and induced socioeconomic benefits to the state of Wisconsin. INTRODUCTION General Electric Company (GE or 'the company') is a diversified industrial corporation that offers a wide range of products and services including aircraft engines, power generation equipment, medical imaging, as well as industrial financing. The company primarily operates in North America, Europe, Asia, South America, Australia and Africa and employed approximately 100,000 people in the United States in GE s history in the Badger State dates back to 1947, when the GE X-Ray Department, as it was known then, moved from Chicago to occupy a surplus production plant in West Milwaukee. Today, GE Healthcare has facilities in Waukesha, Wauwatosa, Milwaukee, West Milwaukee, Oak Creek, Madison and Pewaukee. The company s imaging and clinical care practices, which include ultrasound, magnetic resonance imaging (MRI), computed tomography (CT), patient monitoring, maternal-infant care and X-Ray technologies, is headquartered in Wisconsin, where the largest concentration of GE Healthcare s workforce is located. In 2017, GE asked the business economic intelligence and research company, Frost & Sullivan, to conduct an economic impact analysis (EIA) of the presence of GE s operations in the state of Wisconsin. This EIA tool, built by researchers at Frost & Sullivan, can be used to assess various scenarios and identify the potential impacts of GE s operational presence on Wisconsin s economy in terms of total economic output impact, job creation, and charitable contributions. Independent of which impact variable is explored, GE s impact on the state of Wisconsin s economy can be measured and categorized into three levels of impact: o Direct impact the total number of GE jobs created, its associated total economic output, paid wages, and charitable contributions generated from GE s production operations o Indirect impact the number of indirect jobs created, its associated wages, and total economic output related to GE s direct expenditures on goods and services through its supply chain and from each US state s local economy. This is the economic activity generated by GE s supply chain to serve GE s operational needs. o Induced impact the economic impact created as a result of local spending by GE employees and families, its associated wages and GDP produced from those induced wages. This is the economic activity generated by the household expenditures of GE employees in the local economy. 2 2
5 To calculate these economic impacts, a pragmatic input/output (I/O) production model was developed. The I/O model is based on the assumption that GE s presence in a given economy contributes to the total value of the economy, just like all other economic actors in the economy and that each economic actor has a direct impact, an indirect impact, and an induced impact on the total economy through the economic decisions they make. Each of these types of impact can be measured and compared to the performance of the total economy. Consequently, economic impact statements can be made regarding the relative and absolute benefit GE has on the economy as a whole. GE provides significant economic and philanthropic benefit to the state of Wisconsin. In 2016, GE contributed a total of $8.128 billion in direct, indirect, and induced total production output in the state of Wisconsin. GE s economic presence in the state of Wisconsin supports 24,967 direct, indirect, and induced fulltime equivalent jobs. This is more than enough people to fill the BMO Harris Bradley Center in Milwaukee, Wisconsin to capacity. GE employs 6,810 fulltime manufacturing and professional jobs in state of Wisconsin and GE supports an additional 5,393 fulltime equivalent jobs in its supply chain. An additional 12,764 fulltime equivalent jobs are supported by local companies that serve the personal consumption needs of GE employee households. Consequently, GE s economic presence in the state of Wisconsin has contributed to the generation of $3.10 billion in total direct, indirect, and induced compensation in 2016 and its employees and its foundation contributed $7.34 million in total charitable contributions. Overall, GE has demonstrated its commitment to the state of Wisconsin s economy through its continued investment and rock-solid presence today, and tomorrow. This economic analysis only includes the impact of GE s current operations in the state of Wisconsin and does not include the additional economic benefits that GE brings to the state through capital investments such as GE Healthcare s new Repair Operations Center in Oak Creek. These investments lead to additional construction and infrastructure jobs and economic activity which are not covered in this report. 3
6 General Electric's Impact on the State of Wisconsin s Economy STATE OVERVIEW Wisconsin is the 20 th most populous state in the USA, with a population of 5.8 million people. The state s economy is driven by manufacturing, agriculture, and healthcare. The Badger State is the nation s leading cheese producer, but also produces paper products, transportation, and capital goods. Population: 5.78 million GDP: $306 billion Employment: 3.1 million Unemployment Rate: 4.3% WISCONSIN TOTAL ECONOMIC OUTPUT GE provides significant economic and philanthropic benefit to the state of Wisconsin due to its presence in the state. In 2016, the company contributed a total of $8.128 billion in direct, indirect, and induced total production output in the state of Wisconsin. That is the same as $22.25 million of total economic production output per day, $927,270 per hour, and $258 per second. The source of this total economic output is derived from three sources; GE s direct productivity contributed 31.5% of the total economic impact, the productive output of GE s supply chain, or the indirect impact of GE s presence in the state, contributed 57.1% of the total economic impact, and the economic output contribution of the local businesses that serves GE employee household personal consumption needs contributed 11.3% of total economic output induced by GE s presence in the state of Wisconsin. GE s economic output within the state of Wisconsin is shown below in both absolute and relative terms. Total Economic Output Attributed to GE s Presence in the State of Wisconsin (Total Direct, Indirect, and Induced), USD, 2016 PER YEAR $8.13B Induced 11.3% Direct 31.5% $8.13 B PER DAY $22.25M Relative Economic Output attributed to GE s Presence in the State of Wisconsin by Impact Type (Direct, Indirect, and Induced), 2016 PER HOUR $927K PER SECOND $258 Economic Output Attributed to GE s Presence in the State of Wisconsin per $1 Spent on GE Employee Compensation, USD, 2016 $1 Spent on GE Compensation leads to GE's Impact on the U.S. State of Wisconsin Total Economic Output, USD Million, 2016 Metrics Indirect 57.1% Total Economic Impact Direct $2,564.4 Indirect $4,643.6 Total Direct and Indirect Impact $7,208.0 Induced Impact $920.4 Total $8,128.4 $8.68 Total Economic Output Source: Frost & Sullivan Source: Frost & Sullivan 4 4
7 EMPLOYMENT GE s economic presence in the state of Wisconsin supports 24,967 direct, indirect, and induced fulltime equivalent jobs. This is more than enough people to fill the BMO Harris Bradley Center in Milwaukee, Wisconsin. In all, one GE job in the state of Wisconsin supports an additional 2.67 fulltime equivalent jobs in Wisconsin, independent of the industry sector. GE employs 6,810 fulltime manufacturing and professional jobs in the state of Wisconsin and GE s supply chain supports 5,393 fulltime equivalent jobs in order to address GE s business activity needs. Furthermore, 12,764 fulltime equivalent jobs are induced to serve the personal consumption needs of GE employee households. Specifically, for every 100 direct fulltime equivalent GE jobs employed in the state of Wisconsin, 74 retail trade jobs (5,034 total FTE jobs) and 37 health care and social assistance jobs (2,527 total FTE jobs) are supported. In addition, for every 100 GE jobs, 23 fulltime equivalent accommodation and food service jobs (1,546 total FTE jobs) and 13 education services including teachers (919 total FTE jobs) are also supported by the presence of GE and its supply chain partners in the state of Wisconsin. Every GE job in Wisconsin creates 2.67 additional jobs within the state. This positive feedback helps to create jobs in a wider variety of industry sectors. GE's Impact on the U.S. State of Wisconsin # of Additional Jobs Supported per 100 GE Jobs Employed, USD Million, 2016 Industry Sector Measure Retail trade 74 Health care and social assistance 37 Professional and business services 24 Manufacturing 23 Accommodation and food services 23 Educational services 13 All Others 73 Total Jobs Supported per 100 GE Jobs Employed 267 GE's Impact on the U.S. State of Wisconsin Total Jobs Supported, Fulltime Equivalent Jobs, 2016 Accommodation and food services 1,546 Health care and social assistance 2,527 Educational services 919 All Others 4,954 Professional and business services 6,186 Manufacturing 3,801 Retail trade 5,034 Source: Frost & Sullivan 5
8 General Electric's Impact on the State of Wisconsin s Economy GE compensates its average employee 2.59 times more than the state s average compensation rate. LABOR COMPENSATION GE s economic presence in the state of Wisconsin has contributed to the generation of $3.102 billion in total direct, indirect, and induced compensation in Furthermore, GE compensates its direct employees significantly more than the average Wisconsinite business. Specifically, GE compensates its average employee 2.59 times more than the state s average compensation rate. This increased compensation rate leads to a significantly greater economic output potential; $8.68 of total direct, indirect, and induced economic output was created for every $1 of GE compensation expended in Total GE Attributed Direct, Indirect, and Induced Employee Compensation, Wisconsin, 2016 Average GE Compensation Relative to State Average per State, Wisconsin, 2016 $3.102B 2.59x GE contributed $7.34 million in total charitable contributions and provided 30,205 hours of pro bono volunteer hours to local charities in Wisconsin. CHARITABLE IMPACT The benefits of GE s presence in the state of Wisconsin go beyond the economy as indicated in its direct contributions to the communities of Wisconsin. In 2016, GE corporate, GE s employees, and the GE Foundation contributed $7.34 million in total charitable contributions (equivalent to $1,078 per GE employee) and provided 30,205 hours of pro bono volunteer hours to local charities in Wisconsin. Overall, General Electric has clearly demonstrated its commitment to the state of Wisconsin s overall economy and its communities through its continued investment and rock-solid presence today and tomorrow. GE's Charitable Impact Monetary Donations and Volunteer Hours, Wisconsin, 2016 Metric Unit of Measure Measure GE Monetary Donations USD $7,340,734 GE Monetary Donations per GE Employee USD/person $1,078 Volunteer Hours Pro Bono Hours 30,205 Source: Frost & Sullivan 6 6
9 INVESTMENT This report s economic analysis only includes the impact of GE s current operations in the state of Wisconsin and does not include the additional economic benefits that GE brings to the state through capital investments. These investments lead to additional construction and infrastructure jobs and economic activity which is not covered in the report s analysis. In March 2017, GE Healthcare celebrated the grand opening of its new Repair Operations Center, a 280,000-square foot facility in Oak Creek. Formerly a Staples warehouse, updating the center created additional infrastructure and construction jobs and bolstered the local economy. Additionally, GE Healthcare plans to add roughly 170 jobs in Wisconsin over the next 18 months, spread among Wauwatosa, Oak Creek and Madison. 7
10 General Electric's Impact on the State of Wisconsin s Economy RESEARCH METHODOLOGY There are a number of approaches in measuring the economic impact of a given company s operational presence, but the most common and acceptable economic model is the input-output (I/O) method, invented by Nobel Prize-winner Wassily Leontief. The Leontief I/O model is based on using matrices that report the value of inputs (in producer prices) delivered at the national and regional level by a set of industry sectors used by the same set of industry sectors producing output at the national and regional level (and also measured in producer prices). These matrices, known as national input-output tables, are produced and published in the United States by the Department of Commerce s Bureau of Economic Analysis (BEA). There are 3 types of economic impacts direct, indirect, and induced that are generally recognized by economic practitioners of the I/O model: Direct Impact the total number of jobs created and its associated valueadd to the local economy, paid wages, and associated federal, state, and local income taxes generated from the primary economic entity of importance. The primary economic entity of importance can be a given company/corporation, industry sector, project, or organization. Indirect Impact the number of indirect jobs created, its associated wages, and generated federal, state, and local income taxes related to primary economic entity of importance s direct expenditures on goods and services within its supply chain and from each region s local economy. This is the economic activity generated by primary economic entity of importance s supply chain in order to serve primary economic entity of importance s operational needs. Induced Impact the economic impact created as a result of local spending by the households of employees of the primary economic entity of importance. These expended wages are used to create new wages, new GDP, and new federal, state, and local income taxes generated in order to deliver goods and services to the households of employees of the primary economic entity of importance. This is the economic activity generated by the household expenditures of the employees of primary economic entity of importance in the local economy. 8 8
11 I/O matrix tables are used to calculate economic impact multipliers used in the EIA model. Multipliers are parameters that are used for calculating the total impact on all industry sectors in an economy (including cascading effects derived from the entire value chain) of changes in the demand for the output of any given industry sector. These multipliers describe the expected, or average, effects and not marginal effects. Thus, these multiples do not take into consideration economies of scale, unused production capacity or technological change but they still provide a good picture of the inter-relationships between industry sectors that supply valuable inputs and industry sectors that use these inputs to make more valuable products. Specifically, these multipliers can be used to calculate the direct and indirect economic impacts of a new investment in an economy or the size of the economic importance of a company, product, project, etc. in terms of the value of total production output (in producer prices), gross value added (which is also a proxy for gross domestic product), the total employment (in terms of the number of full time equivalent jobs created), total expenditures on labor compensation, tax revenue generation, and shareholder profits. An I/O matrix table models the organization of the United States entire industrial production system in a given year. The row of an I/O table reports the value of inputs sold to each industry sector for a given industry sector and the sum of a row report s the total value of sold inputs across all industry sectors. The column of an I/O table reports the value of the inputs used and paid for by a given industry sector. It is similar to a bill of material s used by a given industry sector and the sum of a given column equals the total expenditure on inputs used to create the given industry s output. Thus, I/O matrix tables show the relationships that exist between industrial sectors in a given region. An I/O table also includes expenditures paid out to various stakeholders for each of the industry sectors, including total compensation paid out to labor for their help in transforming the acquired inputs into valuable industrial output, expenditure to federal, State, and local governments in the form of production and import taxes, and payments to shareholders and creditors. The sum of all payments to the value chain for inputs and all other stakeholders for their contributions in transforming the inputs into valuable production output equals the total economic impact of the given industry sector s activity in the given region. 9
12 General Electric's Impact on the State of Wisconsin s Economy As stated previously, the BEA provides national I/O tables that must be adjusted for regional scale and variance since the size and mix of industrial sectors participating in each region clearly varies from the aggregated national reporting. In order to control for this variance, location quotient (LQ) weights can be applied to the national table in order to scale and adjust the table. The LQ weight is calculated by taking the ratio of a given industry sector s share of regional earnings and the given industry sector s share of national earnings. If the LQ ratio is less than one, then the ratio is multiplied by the regional share of the industry sector s earnings relative to the national earnings. If the LQ ratio is greater than one, then only the regional share of the industry sector s earnings relative to the national earnings is used as the weight. In addition, primary research and expert judgment must be applied to check to make sure that the weighted I/O table is truly representative of each state s economic interactivity between industry sectors supplying inputs and industry sectors producing output. In other words, each intersection within the I/O table must be reviewed and adjusted accordingly if newer or better information is available. The following inputs were utilized in this economic analysis: o Total Production Output and Gross Value-Added of GE s operations and the U.S. State in general per U.S. state o GE provided inputs, including the number of production-related and professional jobs created per U.S. state and expenditures on goods and services for local operations from the local economy o Local employment trends per U.S. state o Average compensation and wages per laborer in each U.S. state o Number of employees per industry sector per U.S. state o Production, Import, and other taxes paid per U.S. state o Average household/personal expenditures on local goods and services o Expenditure on local charities by GE and each U.S. state in general 10 10
13 DEFINITIONS This analysis looks at various measures of economic impact of GE s presence in each of the states under investigation in this report. The list below of economic impacts shows the specific economic impacts measured for the purposes of this analysis. Total Economic Output Also called Total Value of Production Output, this metric reflects the total value of all production activity of a given primary economic entity of importance. A primary economic entity of importance can be a single corporation like GE, a set of companies, or an entire industry sector. Specifically, this measure is basically the value of all production activity, in producer prices, related to presence of GE in the state and includes the value of production of GE (direct impact), the suppliers of GE (indirect impact), and the businesses that serves GE employee household personal expenditure (induced impact). The Total Economic Output is also equal to the sum of all payments to all of GE s stakeholders including the raw material/input suppliers (payments for raw materials), direct employees (compensation payments), and payments to other stakeholders including governments (taxation), creditors (interest payments on debt), and profits (payments to owners). In other words, this metric can be thought of as a proxy for TOTAL REVENUE generated by GE plus TOTAL REVENUE generated by GE s supply chain plus TOTAL REVENUE generated by companies servicing GE and its employee s households. Total economic production output per time period can be easily deduced. Gross Value Added This metric is the total value created by GE due to the transformation of the sourced raw materials/inputs into something more valuable. This metric is equal to the sum of all payments to employees (compensation payments) and payments to other stakeholders including governments (taxation), creditors (interest payments on debt), and profits (payments to owners). This metric excludes payments to input suppliers. Labor Compensation This metric is the total wages and benefits created and paid out directly by GE (direct impact), the indirect labor payments of GE s supply chain, and any wages and benefits created and paid out by the local companies servicing the needs of GE employee households (induced impact). This is a component of Gross Value Added. Using the results of the I/O model developed for this report, the average GE labor compensation relative to the given state s average labor compensation (ratio of GE compensation relative to average state compensation; $GE wage/$ average state wage). Employment This metric is the total number of fulltime equivalent jobs created by GE (direct impact), the total number of fulltime equivalent jobs created by GE s supply chain as a consequence of servicing the raw material needs of GE (indirect impact), and the total number of fulltime equivalent jobs created by local companies 11
14 General Electric's Impact on the State of Wisconsin s Economy servicing the needs of GE employee households (induced impact). All employment findings reported in this analysis are measured in fulltime equivalent jobs. Using multiples derived from the I/O model, types of jobs created by industry sector can be deduced. In addition, the number of indirect and induced jobs created due to GE s presence per one GE job created and total direct, indirect, and induced jobs created relative to total state jobs can be deduced. Charitable Impact This metric measures the total direct charitable expenditure by GE and its employees in the form of payments to local charities (monentary donations) or through donated time (charitable pro bono hours). Charitable Impact can be measured per GE employee and in total terms
15 APPENDIX General Electric's Impact on the U.S. State of Wisconsin Economic Impact Summary Table, USD Million, 2016 Metrics Total Economic Impact Gross Valued Added Rest of Value Added* Labor Compensation Employees (People) Direct $2,564.4 $1,378.7 $442.4 $ ,810 Indirect $4,643.6 $2,491.8 $816.1 $1, ,393 Total Direct and Indirect Impact^ $7,208.0 $3,870.5 $1,258.5 $2, ,203 Induced $920.4 $831.6 $341.7 $ ,764 Total $8,128.4 $4,702.0 $1,600.2 $3, ,967 * Includes estimated government tax types (Federal, State, and Local; Corporate, Income, Property, Sales, and Others), payments to creditors, and payments to owners (profits) ^ Excludes Second-order Induced Wholesale Trade and Construction Jobs. All Jobs are Full-Time GE + Upstream Value Chain Partners General Electric's Impact on the U.S. State of Wisconsin Number of Jobs Supported by Industry Sector, # of Employees, 2016 Industry Sector Direct Jobs Indirect Jobs Induced Jobs Total Jobs Manufacturing 2,228 1, ,801 Retail trade ,983 5,034 Professional and business services 4,583 1, ,186 Educational services Health care and social assistance ,524 2,527 Accommodation and food services ,291 1,546 All Others -- 1,904 3,051 4,954 Total 6,810 5,393 12,764 24,967 Note: Excludes Second-order Induced Wholesale Trade and Construction Jobs. All Jobs are Full-Time Equivalent. Source: Frost & Sullivan Analysis General Electric's Impact on the U.S. State of Wisconsin Charitable Impact, USD Million, 2016 Metrics Grand Total Volunteer Hours Wisconsin $7,340,734 30,205 Note: NPISH = Nonprofit Institutions Serving Households 13
16 General Electric's Impact on the State of Wisconsin s Economy REFERENCES Angelos Pagulatos and Kurt R. Anschel. (October 1981). An I-O Study of the Economic Structure of Appalachian Kentucky. Growth & Change. Wiley-Blackwell Dan S. Rickman. (April 2001) Using Input-Output Information for Bayesian Forecasting of Industry Employment in a Regional Econometric Model. International Regional Science Review 24, 2: Information Sources: Bureau of Economic Analysis; U.S. Department of Commerce. Retrieved at Miller, Ronald E.; Blair, Peter D. (2009). Input-Output Analysis: Foundations and Extensions. Cambridge, GBR: Cambridge University Press 10. Retrieved at Rebecca Bess and Zoë O. Ambargis (2011) Input-Output Models for Impact Analysis: Suggestions for Practitioners Using RIMS II Multipliers. Presented at the 50th Southern Regional Science Association Conference. March 23-27, 2011, New Orleans, Louisiana U.S. Department of Commerce (1997) Regional Multipliers. A User Handbook for the Regional Input-Output Modeling System (RIMS II). Third Edition. March
17 2017 Frost & Sullivan All rights reserved. Selected passages and figures may be reproduced for the purposes of research, media reporting, and review given acknowledgement of the source is included. For information regarding use permission, write to: Frost & Sullivan 7550 IH 10 West, Suite 400 San Antonio, TX About Frost & Sullivan Frost & Sullivan is a growth partnership company focused on helping our clients achieve transformational growth as they are impacted by an economic environment dominated by accelerating change, driven by disruptive technologies, mega trends, and new business models. For more than 55 years, we have been developing economic and business growth strategies for the Global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity? Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies? Contact us to start the discussion. 15
18 ct on the State of Wisconsin s Economy
The Economic Impact of the Ophthalmic Goods Manufacturing Industry on the Southern California Economy
The Economic Impact of the Ophthalmic Goods Manufacturing Industry on the Southern California Economy March 2017 Introduction and Study Objectives The goal of this research overview is to quantify how
More informationUSING IMPLAN TO ASSESS LOCAL ECONOMIC IMPACTS. David Mulkey and Alan W. Hodges. Introduction 1
USING IMPLAN TO ASSESS LOCAL ECONOMIC IMPACTS David Mulkey and Alan W. Hodges Introduction 1 Policymakers, industry officials, and others often need information on the total economic impacts of specific
More informationBank of America Corporation Estimated economic benefits of the Environmental Business Initiative September 2017
Bank of America Corporation Estimated economic benefits of the Environmental Business Initiative 2013-2016 September 2017 Contents Executive summary... 1 1. Bank of America Environmental Business Initiative...
More informationEconomic Impacts. Refineries in Skagit County
Economic Impacts of the Refineries in Skagit County February 13, 2015 Center for Economic and Business Research Prepared for the Economic Development Association of Skagit County Table of Contents Executive
More informationExpected Occupation Growth in El Paso and Doña Ana Counties
Expected Occupation Growth in El Paso and Doña Ana Counties INTRODUCTION The Paso del Norte comprises a region on the U.S. and Mexico border where the state boundaries between Texas, New Mexico and Chihuahua
More informationThe Importance of the Petroleum Industry to the Economy of the Western States
The Importance of the Petroleum Industry to the Economy of the Western States The Importance of the Petroleum Industry to the Economy of the Western States José Alberro, Ph.D. Director, LECG April 2007
More informationEconomic Impact of a Second Generation Biofuels Facility
EXTENSION CENTER FOR COMMUNITY VITALITY Economic Impact of a Second Generation Biofuels Facility A Report of the Economic Impact Analysis Program Authored by Brigid Tuck and William Lazarus Economic Impact
More informationTHE POSTMATES ECONOMIC IMPACT REPORT: How On-Demand Technologies are Fueling the Future of Retail & Commerce in Cities
THE POSTMATES ECONOMIC IMPACT REPORT: How On-Demand Technologies are Fueling the Future of Retail & Commerce in Cities 2018 Commerce in cities is transforming. Some e-commerce companies build a wholesale
More informationPRINCIPLES OF ECONOMICS IN CONTEXT CONTENTS
PRINCIPLES OF ECONOMICS IN CONTEXT By Neva Goodwin, Jonathan M. Harris, Julie A. Nelson, Brian Roach, and Mariano Torras CONTENTS PART ONE The Context for Economic Analysis Chapter 0: Economics and Well-Being
More informationThe Iowa Pork Industry 2008: Patterns and Economic Importance by Daniel Otto and John Lawrence 1
The Iowa Pork Industry 2008: Patterns and Economic Importance by Daniel Otto and John Lawrence 1 Introduction The Iowa pork industry represents a significant value-added activity in the agricultural economy
More informationEconomic Impact of the Investments and Operations of Catholic Health Partners on the State of Ohio
Economic Impact of the Investments and Operations of Catholic Health Partners on the State of Ohio Overview of the Economic Impact of the Investments and Operations of Catholic Health Partners on the State
More informationEconomic Impacts of Greyhound Bus Passengers Visiting New York City
Economic Impacts of Greyhound Bus Passengers Visiting New York City SUBMITTED TO Greyhound Lines, Inc. SUBMITTED BY Nathan Associates Inc. Arlington, Virginia August 2, 2004 www.nathaninc.com Economic
More informationAustralian Online Search and Directories Advertising Market
Australian Online Search and Directories Advertising Market 2009-2013 1 About this report 1.1 Introduction This report is a multi-client study produced by Frost & Sullivan s ICT Practice in Australia during
More informationContribution of the arts and culture industry to the UK economy
Contribution of the arts and culture industry to the UK economy An updated assessment of the macroeconomic contributions of the arts and culture industry to the national and regional economies of the UK
More informationJuno Awards, Calgary An Economic Impact Analysis. August 2008
Juno Awards, Calgary An Economic Impact Analysis August 2008 Introduction For a metropolitan area like Calgary, hosting the Juno Awards is not only a chance to showcase the city to the rest of Canada,
More informationE-TRAINING ON COMPILATION OF SUT
E-TRAINING ON COMPILATION OF SUT IN AFRICA ACS/ESNA 2017 Session 3: Steps for compilation of SUTs Outline of presentation 1. Outline of Steps to compile SUTs 2. Establishing five tables (unbalanced) Table
More informationCorporate Giving and Employee Engagement
Corporate Giving and Employee Engagement When we think about corporate giving, the first thought typically goes to giving dollars. In reality though there are many different ways to give back to the community.
More informationHandbook On Measuring Employment from Extractive Industry Investments
Handbook On Measuring Employment from Extractive Industry Investments Developed by: Beatrice Troiano, Perrine Toledano and Nicolas Maennling 1 August 2017 1 The authors thank Garrett Markley for his thorough
More informationEconomics Challenge Online State Qualification Practice Test. 1. An increase in aggregate demand would tend to result from
1. An increase in aggregate demand would tend to result from A. an increase in tax rates. B. a decrease in consumer spending. C. a decrease in net export spending. D. an increase in business investment.
More informationThe Economic Contributions of Agriculture in New York State (2014)
August 2016 EB 2016-09 The Economic Contributions of Agriculture in New York State (2014) Todd M. Schmit Dyson School of Applied Economics and Management College of Agriculture and Life Sciences Cornell
More information2016 Global Marketing Automation Software Company of the Year Award
2016 Global Marketing Automation Software Company of the Year Award 2016 Contents Background and Company Performance... 3 Industry Challenges... 3 Conclusion... 6 Understanding Company of the Year... 7
More information2015 FLORIDA STRAWBERRY FESTIVAL ECONOMIC IMPACT STUDY. Tampa Bay Regional Planning Council, Regional Economic Analysis Program
2015 FLORIDA STRAWBERRY FESTIVAL ECONOMIC IMPACT STUDY Tampa Bay Regional Planning Council, Regional Economic Analysis Program Authors Randy Deshazo Principal Economic Planner Avera Wynne Planning Director
More informationMeasuring the contribution of coal to Indiana s economy
Measuring the contribution of coal to Indiana s economy F.T. Sparrow F.T. Sparrow & Associates West Lafayette IN CCTR Briefing: Coal, Steel and the Industrial Economy Hammond IN December 12, 2008 1 Two
More informationThe Economic Impact of Music 2016 UPDATE. TXP, Inc South 1st Street; Suite 105 Austin, Texas
The Economic Impact of Music 2016 UPDATE TXP, Inc. 1310 South 1st Street; Suite 105 Austin, Texas 78704 www.txp.com Overview Music and its prospects are a subject of much conversation in Austin these days,
More informationChapter 3 Political and Economic Analysis
Graphic Organizer Answer Key Section 3.1 What Is an Economy? Graphic Organizer Answer Directions In this diagram, record similarities and differences among market and command economies. Market Economy
More informationCERTIFIED MEDICAL OFFICE MANAGER
CERTIFIED MEDICAL OFFICE MANAGER CANDIDATE PREPARATION HANDBOOK About the Exam Exam Tips Exam Study List Sample Exam Questions Sample Exam Answer Key Copyright 2017, by Assistex, Inc., San Antonio, TX,
More informationAEP Economic & Business Development: Research Services
AEP Economic & Business Development: Research Services Guide to Information Tools & Resources September 2017 www.aeped.com 1 Information Tools & Resources Guide Business, demographic and economic data
More informationChevron Corporation (CVX) Analyst: Ryan Henderson Spring 2015
Recommendation: HOLD Target Price until (12/31/2016): $118.00 1. Reasons for Recommendation The driving factor behind my hold recommendation for Chevron is due to the state of the oil production industry
More informationCONTRIBUTION OF THE ETHANOL INDUSTRY TO THE ECONOMY OF THE UNITED STATES
CONTRIBUTION OF THE ETHANOL INDUSTRY TO THE ECONOMY OF THE UNITED STATES Prepared for the Renewable Fuels Association by John M. Urbanchuk Technical Director Environmental Economics Updated January 31,
More information2.2 Aggregate Demand and Aggregate Supply
2.2 Aggregate Demand and Aggregate Supply Aggregate Demand (AD): the total spending on all goods and services in an economy at a given price level over a period of time. The macroeconomic concept of aggregate
More informationThird quarter and first nine months 2017 Results Release. October 19 th, 2017
Third quarter and first nine months 2017 Results Release October 19 th, 2017 Safe harbor statement Any statements contained in this document that are not historical facts are forward-looking statements
More informationThe impact of broadband on jobs and the German economy
The impact of broadband on jobs and the German economy Bundesverband der Deutschen Industrie e.v. Berlin 17 June 2009 Study Director: Dr. Raúl L. Katz, Adjunct Professor, Division of Finance and Economics,
More information2017 North American Physical Security Intelligence Solutions Company of the Year Award
2017 North American Physical Security Intelligence Solutions Company of the Year Award 2017 NORTH AMERICAN PHYSICAL SECURITY INTELLIGENCE SOLUTIONS COMPANY OF THE YEAR AWARD Contents Background and Company
More informationFOCUS ON ENERGY ECONOMIC IMPAC TS
usinesses of Wisconsin to make ing economic benefits. every dollar invested in iency, Focus on Energy 3.33 in benefits. BILLION t economic m 2012 programs. OVER 300,000 PARTICIPANTS IN 15 STATEWIDE PROGRAMS
More informationSport and Recreation Organizations in Canada
Sport and Recreation Organizations in Canada Learning objectives Explain the differences between the three types of organizations; public, private and non-profit organizations How are they managed differently?
More informationEFFECTS OF UNILATERAL TRADE LIBERALIZATION IN SOUTH ASIAN COUNTRIES: Applications of CGE Models of Bangladesh, India, Nepal, Pakistan and Sri Lanka
ESCAP SOUTH AND SOUTH-WEST ASIA OFFICE EFFECTS OF UNILATERAL TRADE LIBERALIZATION IN SOUTH ASIAN COUNTRIES: Applications of CGE Models of Bangladesh, India, Nepal, Pakistan and Sri Lanka Selim Raihan DEVELOPMENT
More informationDEMAND FORECASTING FOR WHOLESALE BUSINESSES
Page 1 of 7 DEMAND FORECASTING FOR WHOLESALE BUSINESSES John B. Vinturella, Tammany Supply, Inc., Covington LA Ernest R. Nordtvedt, Loyola University, New Orleans LA ABSTRACT A model for forecasting demand
More informationBusiness Studies Managing 2
Leaving Certificate Business Studies Managing 2 Please see Teachers Notes for explanations, additional activities, and tips and suggestions. Learning Support Vocabulary, key terms working with text and
More informationTypes of Ownership. Creating a Pro Forma. Sole Proprietorship (or Partnership) Corporation. Limited Liability Corporation (LLC)
Regional Micro- Enterprise Credential Key Financial Concepts Student Handout (Updated: June 12, 2017) Types of Ownership Sole Proprietorship (or Partnership) An individual (or group of individuals) owns
More informationVALUING RADIO. How commercial radio drives economic value for the UK
VALUING RADIO How commercial radio drives economic value for the UK Foreword Rt Hon John Whittingdale OBE MP Secretary of State for Culture, Media & Sport It is hugely impressive to see the positive impact
More informationThe economic impact of Blount Island Command
ABSTRACT The economic impact of Blount Island Command Hassan Pordeli, Jacksonville University Peter Wynkoop The HPW Group, LLC This report provides a detailed analysis of the economic impact of the U.S.
More informationEconomic Impact Statement Premier Inn, Custom House, Cardiff. May 2017
Economic Impact Statement Premier Inn, Custom House, Cardiff May 2017 Contents 1. Introduction 3 2. Construction Phase Impacts 5 3. Operational Phase Impacts 8 4. Conclusion 12 Appendix 1: Infographic
More informationAgenda Overview for Emerging Marketing Technology and Trends, 2015
G00270688 Agenda Overview for Emerging Marketing Technology and Trends, 2015 Published: 18 December 2014 Analyst(s): Andrew Frank The best digital marketers exploit emerging trends and technologies to
More informationPROMOTING EMPLOYMENT ACROSS KANSAS (PEAK)
PROMOTING EMPLOYMENT ACROSS KANSAS (PEAK) PEAK Quarterly Reporting Instructions This manual helps guide Qualified Companies through the quarterly reporting requirements of the PEAK Program. Individuals
More informationInput-Output Tables and Multipliers for Scotland 1998
Input-Output Tables and Multipliers for Scotland 1998 Contents Preface 4 Page Section A - Use of the Scottish Input-Output Tables and Multipliers 7 A1 - Output and Supply (including 10-industry Supply
More informationHuman capital development and the net worth of government: A review
Human capital development and the net worth of government: A review Philippe Burger University of the Free State, South Africa Seminar presented at the University of Bremen and IAW, 15 November 2004 Several
More informationThe CEO Guide to Volunteer Engagement. Building Relationships, Generating Revenue, Driving Impact
The CEO Guide to Volunteer Engagement Building Relationships, Generating Revenue, Driving Impact INTRODUCTION BENEFITS 1. BUILDS RELATIONSHIPS 2. GROWS REVENUE 3. DRIVES IMPACT 4. MEETS CORPORATE DEMAND
More informationLucintel. Publisher Sample
Lucintel http://www.marketresearch.com/lucintel-v2747/ Publisher Sample Phone: 800.298.5699 (US) or +1.240.747.3093 or +1.240.747.3093 (Int'l) Hours: Monday - Thursday: 5:30am - 6:30pm EST Fridays: 5:30am
More informationCost Breakdown Analysis The Final Frontier in Cost Cutting
The Final Frontier in Cutting Rising input costs, coupled with increasing global competition, often adversely impact profits. Intense global competition leaves little or no room to raise prices of goods
More informationEconomic Impacts of Riverdale
Economic Impacts of Riverdale Prepared for the Motion Picture Association Canada September 2017 TABLE OF CONTENTS Introduction... 2 Study Purpose... 2 Season One Production Spending... 3 Economic Impacts
More informationMANUFACTURING IN IOWA
MANUFACTURING IN IOWA NOVEMBER 2011 INSIDE: SECTOR SIZE 2 KEY INDUSTRIES EARNINGS 4 EXPORTS 5 JOB TRENDS 6 GDP TRENDS 7 COUNTY DEPENDENCE 3 8 OVERVIEW Iowa s competitive strengths in manufacturing emerged
More informationStericycle, Inc. Q NASDAQ: SRCL
Stericycle, Inc. Q1 2015 NASDAQ: SRCL Forward - Looking Statements This presentation may contain forward-looking statements that involve a number of risks and uncertainties and our actual results could
More informationMEG4C: A Computable General Equilibrium Model for Colombia
MEG4C: A Computable General Equilibrium Model for Colombia LAMP Second Meeting San José - Costa Rica October 2 4, 2012 Ana María Loboguerrero Sustainable Environmental Development Deputy Directorate National
More information1. The cost of an item is the sacrifice of resources made to acquire it. 2. An expense is a cost charged against revenue in an accounting period.
Chapter 02 Cost Concepts and Behavior True / False Questions 1. The cost of an item is the sacrifice of resources made to acquire it. True False 2. An expense is a cost charged against revenue in an accounting
More informationManage Your Own Company Business Game LIUC Cattaneo University
Manage Your Own Company Business Game LIUC Cattaneo University Player s Guide Initiative promoted by the University Carlo Cattaneo - LIUC in collaboration with the Regional School Office for Lombardy Versione
More informationGlobal Tulip Market Research Report 2017
Published on Market Research Reports Inc. (https://www.marketresearchreports.com) Home > Global Tulip Market Research Report 2017 Global Tulip Market Research Report 2017 Publication ID: QYR021728708 Publication
More informationCashless Cities and Digital Payments Opportunities and Challenges in Supporting the Shift to Digital Commerce
Visa Inc. Cashless Cities and Digital Payments Opportunities and Challenges in Supporting the Shift to Digital Commerce Eduardo Perez Senior Vice President, Regional Risk Officer, Latin America and Caribbean
More informationCambridge International Examinations Cambridge International Advanced Subsidiary and Advanced Level
*49674314* ambridge International Examinations ambridge International dvanced Subsidiary and dvanced Level EONOMIS 978/11 Paper 1 Multiple hoice May/June 217 dditional Materials: Multiple hoice nswer Sheet
More informationAn Assessment of the Economic Impacts of the Pennsylvania Dairy Industry 1
An Assessment of the Economic Impacts of the Pennsylvania Dairy Industry 1 Executive Summary Steven Deller, Mark Stephenson and Chuck Nicholson 2 To assess the contribution of dairy to the Pennsylvania
More informationBusiness Plan. (Not required if you have already prepared a formal business plan using another format)
(Not required if you have already prepared a formal business plan using another format) IF SPACE PROVIDED IS INSUFFICIENT PLEASE ATTACH A SEPARATE SHEET. 1. Business Profile Company Name Company Telephone
More informationImplementing the North American Industry Classification System: The Canadian Experience
Implementing the North American Industry Classification System: The Canadian Experience Prepared by: Michel Girard Andreas Trau Senior Classification Director Analyst Input-Output Division System of National
More informationCase Study Economic Impacts of M ohawk Girls
Case Study Economic Impacts of M ohawk Girls Prepared for The Canadian Media Producers Association (CMPA) in partnership with The Quebec English-Language Production Council (QEPC) November 2017 Mohawk
More informationTHE ECONOMIC IMPACT OF CLIMATE CHANGE ON THE NEW ENGLAND REGION
CHAPTER 8 THE ECONOMIC IMPACT OF CLIMATE CHANGE ON THE NEW ENGLAND REGION By Greg A. Norris This chapter describes an initial effort to evaluate the nature of cause and effect impacts of climate change
More informationGap Analysis. Regional Overview. Economic Modeling Specialists, Inc. CCbenefits, Inc. Prepared for: Gavilan Community College
Economic Modeling Specialists, Inc. CCbenefits, Inc. Gap Analysis Regional Overview Regional Demographics, Educational Attainment, and Top Industry & Occupation Analysis Prepared for: Gavilan Community
More informationJPMORGAN HOMEBUILDING AND BUILDING PRODUCTS CONFERENCE
JPMORGAN HOMEBUILDING AND BUILDING PRODUCTS CONFERENCE November 28, 2007 Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation
More information2. Why is a firm in a purely competitive labor market a wage taker? What would happen if it decided to pay less than the going market wage rate?
Chapter Wage Determination QUESTIONS. Explain why the general level of wages is high in the United States and other industrially advanced countries. What is the single most important factor underlying
More information2017 INDEPENDENT GROCERS FINANCIAL SURVEY
2017 INDEPENDENT GROCERS FINANCIAL SURVEY Sponsored by for being home to doers. People. Community. Doers. Because we know that inspiration begins at home. pnc.com 2014 The PNC Financial Services Group,
More informationHR Metrics: ROI for HR Initiatives
www.mranet.org HR Metrics: ROI for HR Initiatives MRA-The Management Association By Lynell Meeth, MSHR, SPHR WI SHRM Conference 2014 Conducted by: Lynell Meeth, HR Director 262.696.3446 lynell.meeth@mranet.org
More information2017 United States B2B ecommerce Platform New Product Innovation Award
2017 United States B2B ecommerce Platform New Product Innovation Award 2017 UNITED STATES B2B ECOMMERCE PLATFORM NEW PRODUCT INNOVATION AWARD Contents Background and Company Performance... 3 Industry Challenges...
More informationSupply Chain Location Decisions Chapter 11
Supply Chain Location Decisions Chapter 11 11-01 What is a Facility Location? Facility Location The process of determining geographic sites for a firm s operations. Distribution center (DC) A warehouse
More informationField 048: Social Studies Economics Assessment Blueprint
Field 048: Social Studies Economics Assessment Blueprint Domain I Economic Concepts and Research Skills 0001 Economic Concepts and Systems (Standard 1) 0002 Economic Research Skills (Standard 7) Domain
More informationSimplify Video Conferencing Meeting Management to Deliver Better User Experiences
Simplify Video Conferencing Meeting Management to Deliver Better User Experiences A Frost & Sullivan Market Insight www.frost.com 50 Years of Growth, Innovation and Leadership Video conferencing is becoming
More informationLIQUID APPLIED ROOFING The building materials and construction industry s most trusted source for market information and insights
LIQUID APPLIED ROOFING 2016 The building materials and construction industry s most trusted source for market information and insights Liquid Applied Roofing 2016 Liquid applied roofing is a fast-growing
More informationCONTRIBUTION OF THE ETHANOL INDUSTRY TO THE ECONOMY OF THE UNITED STATES IN 2016
CONTRIBUTION OF THE ETHANOL INDUSTRY TO THE ECONOMY OF THE UNITED STATES IN 2016 Prepared for the Renewable Fuels Association by John M. Urbanchuk Managing Partner January 30, 2017 The U.S. ethanol industry
More informationAGS Economics Michigan High School Content Expectations for Economics
AGS 2005 Correlated to Michigan High School Content Expectations for 5910 Rice Creek Pkwy, Suite 1000 Shoreview, MN 55126 Copyright 2007 Pearson Education, Inc. or its affiliate(s). All rights reserved.
More informationSocial Accounting Matrices The development and application of SAMs at the local level
Social Accounting Matrices The development and application of SAMs at the local level Eveline S. van LEEUWEN and Peter NIJKAMP VU University Amsterdam, department of spatial economics Abstract This contribution
More information2012 North American Clinical Laboratory Competitive Strategy Leadership Award
2012 2012 North American Clinical Laboratory Competitive Strategy Leadership Award 2012 Frost & Sullivan 1 We Accelerate Growth Competitive Strategy Leadership Award Clinical Laboratory, North America,
More informationCHAPTER 3. Economic Challenges Facing Contemporary Business
CHAPTER 3 Economic Challenges Facing Contemporary Business Chapter Summary: Key Concepts Opening Overview Economics Microeconomics Macroeconomics A social science that analyzes the choices people and governments
More informationOperating revenues of businesses in the Employment Services Industry decreased 7.1% in 2009, dropping to $8.7 billion from a year earlier.
Catalogue no. 63-252-X. Service bulletin Employment Services 2009. Highlights Operating revenues of businesses in the Employment Services Industry decreased 7.1% in 2009, dropping to $8.7 billion from
More informationEnergy Supply Costs Information Paper
An Coimisiún um Rialáil Fóntas Commission for Regulation of Utilities Energy Supply Costs Information Paper 0 Information Paper Reference: CRU17291 Date Published: 11 th October 2017 www.cru.ie Public/
More informationCHAPTER 5:2: Costs of Production:
CHAPTER 5:2: Costs of Production: Objectives We will analyze how firms decide how much labor to hire in order to produce a certain level of output. We will analyze the production costs of a firm and explain
More informationTHE AMA HANDBOOK OF DUE DILIGENCE
This is a complete list of the nearly-400 ready-to-use forms you ll find in The AMA Handbook of Due Diligence, the most exhaustive guide available on how to properly perform a due dilgence investigation
More information1. If the per unit cost of production falls, then... A.) the supply curve shifts right (or down)
1. If the per unit cost of production falls, then... A.) the supply curve shifts right (or down) B.) there is a downward movement along the existing supply curve which does not shift C.) the supply curve
More informationQ1 Fiscal 2016 Statistics
Q1 Fiscal 2016 Statistics FedEx Corporation Financial and Operating Statistics First Quarter Fiscal 2016 September 16, 2015 This report is a statistical supplement to FedEx s interim financial reports
More informationEnergy Savings by replacing old facility o Energy savings o Emissions
Dubuque Intermodal Transportation Center Cost / Benefit Analysis Input values used in this analysis are taken from the U.S. Department of Transportation (USDOT) guidance on the preparation of Cost Benefit
More informationEconomic Benefits of PPL Susquehanna Nuclear Power Plant
Economic Benefits of PPL Susquehanna Nuclear Power Plant An Economic Impact Study by the Nuclear Energy Institute In Cooperation With PPL Corporation Economic Benefits of PPL Susquehanna Nuclear Power
More informationPermanent Modular Construction. Annual Report. Modular Construction Market Share Steadily Expands Permanent Modular Industry Continues to Make Inroads
Permanent Modular Construction Annual Report Modular Construction Market Share Steadily Expands Permanent Modular Industry Continues to Make Inroads 2 This Sage Policy Group, Inc. (Sage) report analyzes
More informationGACE Economics Assessment Test at a Glance
GACE Economics Assessment Test at a Glance Updated June 2017 See the GACE Economics Assessment Study Companion for practice questions and preparation resources. Assessment Name Economics Grade Level 6
More informationGlobal ERCP Market Research Report 2016
Report Information More information from: https://www.wiseguyreports.com/reports/627859-global-ercp-market-research-report-2016 Global ERCP Market Research Report 2016 Report / Search Code: WGR627859 Publish
More informationUnit 3 Business and Society. Chapter 5 The Free Enterprise System Chapter 6 Legal and Ethical Issues
Unit 3 Business and Society Chapter 5 The Free Enterprise System Chapter 6 Legal and Ethical Issues Chapter 5 The Free Enterprise System Section 5.1 Market-Oriented Economic Systems Section 5.2 Business
More informationEconomic Impacts from Agricultural Production in Arizona
Economic Impacts from Agricultural Production in Arizona Jorgen R. Mortensen Department of Agricultural and Resource Economics The Cardon Endowment for Agricultural Economics and Policy The College of
More informationUser Handbook February 2017
Economic & Fiscal Impact Model User Handbook February 2017 Prepared by: 7505 E. McClintock Dr. Scottsdale, AZ 85251 Copyright Elliott D. Pollack & Co. All Rights Reserved GOODWILL ECONOMIC & FISCAL IMPACT
More informationMRI Systems Market to 2018
MRI Systems Market to 2018 Technological advancements, Increasing Number of Applications and Advent of MRI Compatible Pacemakers to Drive Future Growth GBI Research Report Guidance GBI Research Report
More informationWholesale Distribution Economic Trends: Headwinds Slow Revenue Growth. in partnership with:
2016 Wholesale Distribution Economic Trends: Headwinds Slow Revenue Growth from: in partnership with: Total revenues of wholesale distributors in 2015 fell by 4.3 percent to $5.3 trillion, reflecting a
More informationThe Effect of CO2 Emissions Reduction on the U.S. Electricity Sector
The Effect of CO2 Emissions Reduction on the U.S. Electricity Sector Jeffrey Anspacher, Stefan Osborne, Julian Richards 1 Office of Competition and Economic Analysis International Trade Administration
More informationLA-Z-BOY INCORPORATED
LA-Z-BOY INCORPORATED November 2017 Providing comfort to America for 90 years FORWARD-LOOKING DISCLAIMER This presentation contains forward-looking statements that involve uncertainties and risks as detailed
More informationChapter 15 (Includes Review of Chapter 14, Part B, Section 3)
Dr. Reisman Short-Answer Questions, Chapter 15 1 Chapter 15 (Includes Review of Chapter 14, Part B, Section 3) 1. The volume of spending in the economic system is a measure of the quantity of money that
More information2014 FROST & SULLIVAN ASIA PACIFIC M2M SERVICE PROVIDER OF THE YEAR TELSTRA
ASIA PACIFIC M2M SERVICE PROVIDER OF THE YEAR TELSTRA SIGNIFICANCE OF THE AWARD Asia Pacific IoT Market Overview For 2013, total IoT spending in APAC is estimated to be $4.6 billion, and is forecasted
More information