Economic and demographic statistics are a key tool for making informed, data-driven decisions. But these statistics can be difficult to access, difficult to understand, and easy to misinterpret. Their incorrect use can yield misleading results. Regionomics offers more than 30 years of experience of obtaining and interpreting economic and demographic statistics. Because these analyses are based on consistent federal government statistics, they can be undertaken anywhere in the U.S.
A key application of these analyses is in long-run projections – 10 to 25 years. These can be valuable in preparing for potential changes in demographics, housing, economic growth, workforce availability, and more.
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Case Studies
Fostering greater understanding of a local community. Regionomics conducted a comprehensive economic and demographic analysis for Marion CAN DO!, the economic development organization for Marion County, Ohio. The resulting report and subsequent update included analyses of the county’s population characteristics and change, households and housing, income, education, labor force, industry and employment, and small business and entrepreneurship. One challenge was the presence of two state penitentiaries in the county, which distorted the comparisons to regional, state, and national benchmarks and resulted in the understatement of income and labor force participation, among other metrics. Most of the statistics could be adjusted for the presence of the penitentiaries.
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Projecting long-term social and economic conditions. Along with central Ohio’s rapid population growth, human needs will increase and new needs will emerge. Aware of this, the Human Service Chamber of Franklin County and Columbus City Council hired Regionomics to analyze current human needs and project those needs over the next 25 years. This study drew from a broad range of economic, demographic, and health statistical sources and included chapters on population growth and demographic changes; labor force and employment; income, poverty, and food insecurity; housing and homelessness; and healthcare worker needs, illness, and disabilities. These findings spotlight emerging needs and will help the community better prepare to meet those needs. The report is available on the Publications and Studies page.