Economic Impact Studies: Practical Economic Impact Studies: Practical Tips & Examples Tips & Examples 9:00 Estimating the Number of Great Lakes Jobs Lynn Vaccaro Michigan Sea Grant 9:15 9:15 Quasi-Experiments in Empirical Economics: An Application to Extreme Levels of Lake Michigan Michael Moore University of Michigan 9:30 9:30 Recreational Fisheries: Using Customer Surveys to Assess Economic Impacts Dan O’Keefe Michigan Sea Grant Extension 9:45 9:45 Estimating the Benefits of Great Lakes Restoration Jennifer Read Michigan Sea Grant 10:0 10:0 0 0 Words of Advice, Discussion Chi-Ok Oh Michigan State University
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Quasi-Experiments in Empirical Economics: An Application to Extreme Levels of Lake Michigan
Michael MooreUniversity of Michigan
9:309:30Recreational Fisheries: Using Customer Surveys to Assess Economic Impacts
Dan O’KeefeMichigan Sea Grant Extension
9:459:45 Estimating the Benefits of Great Lakes Restoration
Jennifer ReadMichigan Sea Grant
10:0010:00 Words of Advice, DiscussionChi-Ok OhMichigan State University
Estimating the Number of Great Estimating the Number of Great Lakes JobsLakes Jobs
Lynn VaccaroLynn VaccaroCoastal Research SpecialistCoastal Research Specialist
Jennifer ReadJennifer ReadAssistant Director and Research CoordinatorAssistant Director and Research Coordinator
How many jobs do the How many jobs do the Great Lakes support?Great Lakes support?
The Great Lakes Shaped the Development of Our Economy
Great Lakes Maritime History
U.S. Army Corp
Historically:• Passage for exploration and development• Water Highway for fur, lumber, iron ore, coal, steel, machinery• Enabled the region to become a manufacturing hub
Randy Schaetzl
Jobs in industries that:– Rely on the lakes for key inputs– Receive an economic advantage from the lakes– Are significantly influenced by the lakes
These industries would either not exist or not have developed to the extent that they have reached today without reliance upon the Great Lakes.
Defining Great Lakes JobsDefining Great Lakes Jobs
• Coastal counties for most industries• In Michigan, statewide for manufacturing, mining and science
Where can we find Great Lakes Jobs?Where can we find Great Lakes Jobs?
U. S. Bureau of Labor Statistics– Quarterly Census of Employment and Wages; Occupational
Employment Statistics– Publicly available– Consistent geographically and historically– County level employment for 1000 different industry categories
Data SourcesData Sources
• Manufacturing• Tourism and recreation• Shipping , including freight transport and warehousing• Agriculture, fishing and food production• Science and engineering• Utilities• Mining
67 Great Lakes Industry Categories, 67 Great Lakes Industry Categories, Grouped into 7 Sectors:Grouped into 7 Sectors:
Industries: Industries: chemical, durable and non-durable goodschemical, durable and non-durable goods
Exclusions: Exclusions: natural gas natural gas distributiondistribution
Jobs: 10,980Jobs: 10,980Wages: $880 millionWages: $880 million
UtilitiesUtilities
Industries: coal, metal
Exclusions: oil, gas
Jobs: 10,003Wages: $630 million
MiningMining
Taconite Processing , PolyMet
Iron ore
The Great Lakes Support: 1.51 million jobs, $6.2 billion in wagesThe Great Lakes Support: 1.51 million jobs, $6.2 billion in wages
Factors that could lead to an Underestimate– Does not include: Coast Guard, Army Corp of Engineers, railroad
workers, self employed and proprietors, domestic workers, farm labor– Suppressed data due to confidentiality– Does not consider indirect or induced employment
Factors that could lead to an Overestimate– Part time, seasonal and full time jobs counted equally– Lakes might not influence entire coastal county
Other Approaches– Economic Lake Effect?
How accurate is this estimate?How accurate is this estimate?
Estimating the Number of Estimating the Number of Great Lakes JobsGreat Lakes Jobs