Data can have incredible impact, especially for economic-development professionals. It can uncover trends you weren’t aware of, explain what’s happening in your region and measure the success of growth strategies.
YE enables you to see business activity at the national and state level, but most important, to view data about your own turf and get fast answers to questions like:
- How does my local economy compare to the entire state or communities in other regions with similar demographics?
- What kind of companies are growing the fastest?
- What how many jobs are generated by resident establishment? (This is important because, as YE shows, jobs generated by resident companies are less vulnerable during economic downturns.)
Instead of relying on anecdotal evidence, YE provides the hard facts you need to:
- Target programs and initiatives more effectively.
- Track the success of programs and communicate their impact to stakeholders and policymakers.
- Connect workforce-development programs with economic-growth initiatives.
- Improve regional planning.
In a nutshell, YE lets you take a data-driven approach to economic-development efforts. Otherwise, you’re operating on opinion. For more information about how to use YE, contact the University of Wisconsin-Extension at IEGCinfo@uwex.edu.