economic studies are "tools" which communities
use to build stronger local economies. Written in an understandable
community and business leaders can immediately fully understand the
condition of their local economy and follow a logical path to improve the
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.
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.
- Comparative Economic
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.
Economic Development Goal
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.
Historical - Comparative
completed, this study creates economic projections for the area under the
assumption "nothing is done" by the community to influence its economic
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.
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
Community Economic Development
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
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.