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Understanding the Impact of Potential Defense Industry Cuts: Virginia Economy

Understanding the Impact of Potential Defense Industry Cuts: Virginia Economy. June 13, 2013. Understanding Potential Economic Impact of DoD Cuts. Obtain data - download prime and subprime contract awards Scrub the data Identify risk to regions based on industries Sales Jobs

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Understanding the Impact of Potential Defense Industry Cuts: Virginia Economy

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  1. Understanding the Impact of Potential Defense Industry Cuts: Virginia Economy June 13, 2013

  2. Understanding Potential Economic Impact of DoD Cuts • Obtain data - download prime and subprime contract awards • Scrub the data • Identify risk to regions based on industries • Sales • Jobs • Occupations • Based on current awards • Based on a projection of awards 5 years from now

  3. Create a Database Determine Current Risks Based on Total Award • USASpending.gov: • Prime Contracts and Subprimes • By place of performance

  4. Scrub the Data Need to correct when nonDoD agencies procure what ends up in DoD Subprime awards need to be associated with the correct county (place of performance) Subprime awards need to be checked for the correct NAICS code Surveys can be used to add subprime awards not in USASpending database

  5. Big Data Supporting Bold Decisions Occupation Impact Note: Subcontractors are subtracted from prime location and added to correct location as needed, Subcontractors are given the correct NAICS. JobsEQ is a proprietary model of Chmura Economics & Analytics.

  6. Additional Questions? • www.chmuraecon.com • Chris Chmura • 804-649-3640 • Chris@chmuraecon.com • Leslie Peterson • 804-649-1107 • Leslie@chmuraecon.com • Sign up for our newsletter • http://www.chmuraecon.com/newsletter.aspx

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