Tag Archives: Data

New Economic Modelling Tool

Analyst Input-Output Tool

The Ontario Ministry of Agriculture, Food, and Rural Affairs – in partnership with Economic Modeling Specialists International (EMSI) – is excited to announce the addition of a Canadian version of their Input-Output Modelling tool in Analyst.

Input-Output models map out linkages within an economy by tracing the connections between industries, households and government. This is done by tracking the flow of money between those entities within a geographic area (for more background on input-output modelling). Continue reading New Economic Modelling Tool

Let Analyst Data Help Make Your Economic Development Decisions Easier

I’m finding that with the Olympics taking place, there is a lot of talk about global economic trends and the potential financial impacts making the rounds at the local coffee shop.  Will your community be affected?  You might be thinking “How can I get started on answering this question and still get away from the office?” Simple, book an appointment and ask Analyst, EMSI Analyst.

Continue reading Let Analyst Data Help Make Your Economic Development Decisions Easier

Improving the Analyst User Experience

Data plays a number of roles in effective economic development. The Ontario Ministry of Agriculture, Food, and Rural Affairs – in partnership with Economic Modeling Specialists International (EMSI) – has offered Ontario’s economic development community access to a full range of data to support regional analysis, strategic planning, and monitoring in a free, user-friendly tool called ‘Analyst’ since 2013. EMSI has recently developed a new version of that flagship tool to improve the user’s ability to find, assess, and report on regional economic data. Improvements focus on five key areas: Continue reading Improving the Analyst User Experience

How Infographics Support Business Retention + Expansion Projects

One of the challenges with Business Retention and Expansion (BR+E) projects is effectively communicating the vast amount of information that is collected. As part of the BR+E program, it is important to develop a final report and action plan. This plan will act as a full and complete record of the project. Its also recommend that Coordinators consider writing a short summary that can be shared with businesses and the broader community. One of the ways to achieve this is by using Infographics. Continue reading How Infographics Support Business Retention + Expansion Projects

Population changes in Rural Ontario

According to a recent factsheet prepared by the Rural Ontario Institute entitled “Change in non-metro population 2014” less than half of the rural counties in Ontario had population increases over the last three years.  Over the same period, however,  all urban counties experienced population increases.

Ray Bollman the author of the factsheet highlights the long term importance of population change to a community:

“Population growth or decline impacts housing demand, labour markets, consumer spending levels and the need for public services such as hospitals and schools. Population growth is considered by many as an indicator of economic vitality – i.e. jobs are being created and/or that it is a desirable place to live.”

Continue reading Population changes in Rural Ontario

3 Ways Data can Support Economic Development

As I stated in my last blog post “Effective Economic Development Requires Data”, data is critical to understanding the local and regional economy. Expanding on that point, there are three main areas where data supports economic development.


Use data to inform economic development strate
gies

hastings county
Hastings County 2014 Situation Analysis Report

Data can help identify a region’s most important economic assets and conditions. The ability to identify these is important for making informed decisions about what industries to focus on for retention, recruitment, or start-up. This can also help get diverse stakeholder groups onto the same page. As a result, strategies built on data are more likely to stand the test of time because they are designed based on a commonly held set of facts, rather than being based on perception. Continue reading 3 Ways Data can Support Economic Development

Effective economic development requires data

Effective economic development requires an understanding of the local and regional economy. No one I know would argue this (especially not economic development practitioners). Data is critical to understanding the local and regional economy.

For example: Norfolk County is where I grew up and still frequently visit. Norfolk  is a single tier municipality located on the north shore of Lake Erie (famous for its Friday the 13th biker rallies). Today Norfolk has a population of approximately 65,000 people. Continue reading Effective economic development requires data