The 2018 data is now the default year in IMPLAN! The data release this year is especially exciting because we have a brand new Industry scheme with 546 Industries based on the updated BEA Benchmark and Census of Agriculture.
The new Industry scheme obviously has some changes from the 536 Industry scheme. We only lost three Industries due to disaggregation. Notably, wholesale trade has been split into 10 different wholesale Industries. Insurance carriers is now split into direct life and all others. Real estate is now split into tenant-occupied and other real estate. Finally, at both the local and state levels, the non-education spending pattern will be split into hospitals and health services and other services. Details on the changes can be found in the article BEA Benchmark & The New 546 Industry Scheme.
COMPARING DATA ACROSS TIME:
Sometimes you may want to compare data across time using IMPLAN. However, when there are significant changes to the underlying data, there is no longer an apples to apples comparison. Therefore, you will not be able to compare the 536 Industry scheme with the new 546 Industry scheme with previous projects or Event Templates. You also won't be able to quickly switch back and forth between the 2018 data and previous years due to this change. You cannot select different Data Years within the same project.
In fact, you may see cases where an Industry will seem smaller in 2018 than it was in 2017 even though this is not what the economy really looks like. This is due to the changes in the methodology, Industry scheme, and ratios that are used in IMPLAN.
Do not worry! IMPLAN has two options to smooth the transition. First, we have a bridge across the Industry schemes that should help in most instances. Second, IMPLAN also has panel data available that allows for a more detailed analysis.
FINDING OLDER DATA:
The 2018 data and the 546 Industry Scheme is the default on your Regions screen. But the older data isn't gone, it just moved. To find the older data years (2012-2017), navigate from your home screen to the Projects screen. On the Projects screen, click the NEW PROJECT button in the upper right.
In the pop-up box, give your new Project a title and then in Industry Set, choose "US - 536 Sectors." Then ensure that your Household Set is "Set 1 - (2015 Datasets or later)." This will give you the choice on your Regions screen between 2015, 2016, and 2017 datasets. To find data from 2012-2014, choose “Set 2 - (2014 Datasets or earlier)."
Click CREATE PROJECT and you will be taken to your Regions screen to set up as always!
Written January 7, 2020