Making the Most of It -- The 1997 Economic Census
| Bruce Storm, Editor | December 1997 |
Making the Most of It -- The 1997 Economic Census
For most businesses, this December's 1997 Economic Census represents a great business opportunity.
If your business receives a form, think about this: the information you provide gets turned into the facts and figures that federal, state and local organizations -- and businesses like yours -- rely on for sound decisions and sensible economic planning.
There is no other source of comprehensive, authoritative business statistics.
Have you ever needed to: Compare locations? Spot industry trends? Identify emerging markets? Assess spending and productivity? Then you know the valuable information that Economic Census data provides: essential information for making strategic and long-term business plans.
Even business people who don't use statistics on a daily basis will realize it's easier to obtain a business loan with good government data like the Economic Census provides. What's more, economic indicators we use every day -- like Gross Domestic Product, Monthly Retail Sales and Producer Price Index -- depend on the Economic Census for continued accuracy.
Census facts are the grist for your local planners, too for economic development, infrastructure projections and disaster recovery, to name just a few. Information available only in the Economic Census will guide communities as they work to maintain their economic base and attract new investments.
So, if you are among those called upon to participate in this year's Economic Census, remember: it's an opportunity. This is your chance to help develop the data that all businesses -- including yours -- will use in years to come.
Make sure your business is counted.
HHIC Hosts Chamber Luncheon
On Tuesday, November 18 (Organization Day for the Indiana General Assembly), the Hoosier Heartland Industrial Corridor, Inc. hosted a luncheon for several legislators. The purpose of the luncheon was really twofold: First, to thank those legislators who have supported the U.S. 24 project to this point and, secondly, to remind them that the highway isn't completed yet, so, let's not stop until the concrete is on the ground.
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For Your Information
Monthly Web Site Traffic Report: During the month of October we experienced 1,413 "accesses", bringing our cumulative total to 14,504 potential customers for you, the Chamber Member. This is yet another example of what your Chamber membership has done for you lately.
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Did You Know?
That Chamber member businesses have the opportunity to distribute inserts in the printed newsletter? Yes, and very inexpensively. For only $25.00 for the first sheet (pre-folded) and $10.00 for each subsequent sheet, per mailing, you can reach the entire membership mailing list with information about your products or services. This benefit is for Chamber members only.
That you can also buy mailing labels for a variety of lists and directories at 5 cents per label for Chamber members and 10 cents per label for nonmembers. Call the office with questions.
www.census.gov/econ97 -- to get more information, to preview sample census forms online, and to review key results from the last Economic Census.U.S. to Count Millions of Businesses in CensusMore than 5 million American businesses (630 in Wabash County alone) will receive 1997 Economic Census questionnaire in December. Completed forms are due February 12, 1998. Businesses receiving a form are required to respond.
Taken every five years, the Economic Census identifies national and local business trends that are essential to measuring and encouraging economic growth. Census figures help update such widely used figures as the gross domestic product (GDP) and monthly retail sales.
"The Economic Census is indispensable to understanding America's economy," said Alan Greenspan, Chairman of the Federal Reserve Board of Governors. "It assures the accuracy of the statistics we rely on for sound economic policy and for successful business planning."
This is the most ambitious Economic Census ever. It will be the first published entirely on the Internet. Early in 1999, a new "advance" report will present totals for the total economy. All data will be available on CD-ROMs, with highlights in printed reports.
This also will be the first major statistical report based on the North American Industry Classification System (NAICS). Developed cooperatively by the U.S., Canada and Mexico, NAICS replaces the Standard Industrial Classification (SIC) system to provide greater comparability with international statistics. NAICS more accurately portrays the way our economy is now structured. The new system reflects the profound changes in technology and the growth of services that have marked recent decades.
Business people receiving forms should realize that the Economic Census helps them, too. The results provide vital information for strategic planning and many of the of ficial statistics that investors expect in a business plan.
"Businesses make decisions about where they locate and how much to produce based on what they learn in the census," said Maureen Haver, former President of the National Association of Business Economics. "We rely on the census to understand market trends, monitor trade, keep our surveys accurate, and keep our members informed," added Herman Cain, President of the National Restaurant Association.
State and local governments, chambers of commerce, economic development organizations and others concerned with economic development also rely on Economic Census data.
"We need to understand our business climate ... and how it has changed over time ... before we can effectively work toward new business growth," said J. R. Wilhite, President, Kentucky Industrial Development Foundation.
Information collected in the Economic Census includes the number of employees, payroll and the types and value of goods and services provided during 1997. Most businesses can complete their form in about an hour. In fact, many very small businesses will not even get a form.
"To simplify reporting, we have tailored each of our forms to a business's primary activities," said Thomas L. Mesenbourg, the Census Bureau's Assistant Director for Economic Programs. "We have designed over 500 versions of the basicform."
The census is absolutely confidential. By law, only sworn Census Bureau employees may see individual responses. Business responses are exempt from the Freedom of Information Act, and no business competitors can obtain the data.
Business people can use the Internet --
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hapdragoo@aol.comWelcome New Members
Community Graphics, Inc.
PO Box 257, 519 E. Main St.
Gas City, Indiana 46933
765-677-9394, Fax 765-674-9192
Publishing of maps, community profile books, etc.Scott's Food Stores
1425 N. Cass St.
Wabash, Indiana 46992
219-563-2241
Grocery storeJohn R. Dragoo
1021 St. James Court
Wabash, Indiana 46992
219-563-3020
E-Mail:
Kaylee Leasing Rental & Sales
808 Manchester Ave.
Wabash, Indiana 46992
219-563-3970, Fax 219-563-9093
E-Mail: kaylee@ctlnet.com
Renting, leasing and selling of all makes of cars, trucks and vans. Specializing
in replacement vehilces for the insurance industry.
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February EventsBusiness Before Hours on February 11 will be sponsored by Adko Travel and Pulley Financial Services. Community sponsor is Education for Conflict Resolution. Emcee is Bill Barrows, Sports Unlimited.
Brown Bag Seminar on February 12 is on "Overcoming the 90:10 Wall of Customer Service presented by Jim Pattison, Lattis Management Consultants. Lunch is sponsored by Wabash Economic Development Corporation.
|
September 1997 From Manchester College Department of Economics and Business | |
| Economic Index (1985 = 100) |
118.9 |
| Total Deposits |
$553,562 |
| Employment |
16,490 |
| Industrical Electrical Sales (000 kwhr.) |
21,449 |
| Residential Building Permits |
18 |