WEDI Update: September 2016
Friday, September 23, 2016
Economic Development News and Views
September 26, 2016
Information you can use:
Is Your Community Prepared to Address New Disclosure Rules for Tax Incentives? “New federal rules requiring disclosure of the costs of tax incentives will take effect in January 2017 and could have a significant impact on community record keeping and reporting. Government Accounting Standards Board (GASB) approved Statement #77 in August 2015 requiring governments to adhere to the GASB standards to disclose the costs of tax abatements. The new reporting requirements must be reported starting in 2016 and be published in 2017.”
Nearly 1 in 10 businesses with employees are new. According to inaugural Annual Survey of Entrepreneurs, nearly nine percent of U.S. businesses with employees have been in business less than two years.
Economic Development News:
A Building Boom Is Driving Economic Growth in Most States. In 43 states, construction now contributes more to the economy than it did in 2010. Overall, the construction industry’s impact on U.S. gross domestic product has grown by more than 21 percent since its low point in 2011
Connecting Degrees to Dollars. What major — and type of degree — leads to the highest salary two years after graduation? Colleges and tech schools are providing information: How Community Colleges Use Job-Market Data, Helping High Schoolers Connect Degrees to Dollars. Related: The 2016-17 Occupational Outlook Handbook (OOH) was just released by the U.S. Bureau of Labor Statistics.
Training Programs Cost Far Less Per Job than "Megadeals." States and localities are spending an average of more than $658,000 per job on economic development “megadeals.” By contrast, most workforce development programs cost only a few thousand dollars per job.
Do you have any major data, policy information how-to-do needs? If you do, please contact WEDI, maybe we can help.
Visit ForwardWI.org for your current economic development marketing data needs. The “Fourteen State Business Cost Comparison”, “Fact Sheets” and Small Business Development “Tool Box” have been updated to 2016.