Transcript Scott Ford Rural Broadband Conference 06102014 _LNBs

Location Neutral Employee/Business Influence
Assessing the Economic Impact
June 10, 2014
Scott L. Ford
Pinnacle Economic Research Group
[email protected]
970.819.9630
Gain An Understanding Of
The Magnitude Of The Most Significant Trend
In Mountain Town Economies
 What Is A Location Neutral Business?
 A Method To Assess Their Size In The Local Economy.
 What LNBs Need/Want & How To Provide It.
What Have LNBs It Been Worth To
Steamboat Springs?
Location Neutral Business (LNBs)
&
Location Neutral Employees (LNEs)
Any Individual / Business that derives 80% or more of
their Labor Source Income from activity outside the
area where they live.
Typically “one-man (woman)”bands
Not Industry Sector Specific
Avoid using the term “Lone Eagle” / They are not “Hermits” / They are your neighbor.
Steamboat Springs/ Routt County LNB Story
2003
Outputs
Inputs
Peter the Micro Chip Designer & His Dog Mattie
Economic Impact Of An Individual Is Where They Live
Assessing the Magnitude of LNBs
Data & The “Root” Sources:
Bureau of Labor Statistics
 Where One Works
 Unemployment Insurance
IRS-Bureau of Economic Analysis – Census – ACS
 Where One Lives
 Annual Tax Return
Brave New World of Mega-Data
Data Indicators
Magnitude vs. Precision
Establishing a Baseline of “Work From Home”
1980 = 4.5%
Delta = 6.9%
2012 = 11.5%
This Data Recipe Card is Available
Characterizations of
The Economy Of Steamboat Springs?
 Tourism
 Mining
 Agriculture
LNBs As A Source Of Household Income >
Arts, Entertainment, And Recreation, &
Accommodation And Food Services (Tourism)
Size of the Support Infrastructure
Magnitude
Physical Infrastructure Needs of LNBs
Broadband is the Equivalent of the Railroad
Speed and Cost Matters:
 Benchmark against the Metro Area Residential
Services.
Choice Where One Lives Cannot Inconvenience
Clients or Employer.
Social Infrastructure Needs of LNBs:
LNBs are Social Creatures
BE A GREAT PLACE TO LIVE!!
Access to Recreation
Natural Beauty
Schools (PK – College)
Health Care
Arts/Culture
What LNBs have Been Worth to Steamboat
Springs / Routt County?
Equivalent To Attracting A New Business To Town
EVERY YEAR
(Since 2003)
That Has between 50 & 75 Employees
That Pay An Average Of $100K Per Job
Questions/Comments