NorthWestern Energy has contracted with Circle Analytics, Inc. to provide free impact studies for up to 100 projects within our service area in Montana and South Dakota. NorthWestern Energy will provide the grants valued at approximately $2000 each to fund eligible studies that are conducted by Circle Analytics.
The program application involves a one-page form with funding decisions typically made within 48 hours. Eligible applicants include Cities, Counties and Economic Development Organizations and NorthWestern Energy Key Accounts within the Montana and South Dakota service area. Non-profit organizations are eligible to apply for a $1500 grant. The studies will help applicants measure the economic impacts of existing businesses or local development projects.
Circle Analytics will use proprietary software tools and historical data to measure the economic ‘footprint’ of select projects. The report will help predict the flow of dollars as they multiply through the community and include both direct and indirect jobs.
Typically reports are based on IMPLAN datasets and measure impacts across six categories as follows:
- Gross Economic Output: The aggregated market value of goods and services produced by firms and government enterprises in the economy.
- Gross County Product: The total of value-added created by the product of goods and services in the economy.
- Total Labor Income: The compensation to employees and self-employed proprietors including both wages and indirect payments such as retirement benefits, health insurance and other similar fringe benefits.
- Total Employment: The number of jobs generated within the impact area including full-time and part-time positions, salaried workers and sole proprietors.
- Capital Income: The sum of income such as business profits, interest and rental income.
- Indirect Business Tax: Taxes and fees not based in the businesses’ income. It may represent sales taxes (if any) levied by the state and county and also property taxes levied against businesses as well as federal, state and local fees.
Click here to download the program application.
 The data sets are provided by Minnesota IMPLAN Group, Inc (MIG, Inc), the developers of the IMPLAN® economic impact modeling system. IMPLAN® is used to create complete, extremely detailed Social Accounting Matrices and multiplier models of local economies. Implan enables users to make in-depth examinations of state, multi-county, county or sub-county and metropolitan regional economies. Implan is used by more than 1,000 public and private institutions. MIG, Inc. has been developing complex localized databases and serving public and private organizations since 1993.