The Jobs and Economic Development Impact (JEDI) models are an input-output based model designed to provide estimates for project impacts. Due to the many variables involved with developing and analyzing projects of this type, these impact estimates are not intended to be viewed as exact impacts, but rather as reasonable estimates given the available data. To the extent users can use the detailed, local cost data and local share values, the results will be more specific to the region and project being analyzed. Please see Limitations of JEDI Models for further discussion.
Users with more experience with power generation projects and/or economic impact analysis can incorporate specific project data into the JEDI models. This may include costs and expenditures, financing and tax parameters, and local shares of spending. JEDI provides default data on land lease, sales and property tax revenues, when appropriate. Various ownership and financing structures can also be incorporated into the analysis by the user. Once modified inputs are added, results may be viewed in the Summary Impacts table (SummaryResults tab). The default (and modified) expenditure values are entered in the Purchaser Prices table (ProjectData tab). The models then automatically allocate the expenditures to the respective producer industries.
Note: If you modify the model's default values, you must enter an "N" in the designated cell on the Project Data page to have the new data incorporated in the analysis.
The default model estimates potential impacts on a statewide basis. However, the User Add-in Location feature allows users to complete analysis for a specific region of interest other than the state level. Necessary inputs include multipliers for the output categories: employment, earnings, and output (per million dollars change in final demand) as well as personal consumption expenditures (e.g., average consumer expenditures on goods and services — calculated as a percentage for each industry — totaling 1.0, 100 percent combined). All JEDI models, with the exception of the solar photovoltaic model, utilize fourteen aggregated industries. (The solar photovoltaic model utilizes 22 aggregated industries.)
Aggregated industries include:
- Electrical Equipment
- Fabricated Metals
- Finance, Insurance and Real Estate
- Other Manufacturing
- Other Services
- Professional Services
- Retail Trade
- Transportation, Communication and Public Utilities
- Wholesale Trade
The Minnesota IMPLAN Group provides a crossover for matching IMPLAN industry codes to Standard Industrial Classification (SIC) and North Atlantic Industry Commodity Sectors (NAICS) codes. Detail is available in the file JEDI Aggregation Scheme – Base for most of the models, and the file JEDI Aggregation Scheme – PV for the solar photovoltaic model. In addition, the U.S. Department of Commerce's Bureau of Economic Analysis provides data for more than 400 economic sectors. Advanced users can refer to these resources to better understand these economic sectors.
Economic multipliers contained within the model are derived using Minnesota IMPLAN Group's accounting software. Users wanting to analyze a region other than a state (or to utilize a more current state multiplier) have several options for obtaining the necessary multipliers and personal consumption expenditure (PCE) patterns to incorporate into the JEDI model. Users familiar with IMPLAN or other input output accounting software can derive new industry sector multipliers (for the respective JEDI models) and PCE patterns themselves or contact the Minnesota IMPLAN Group or MRG & Associates (model developer) to purchase the appropriate multipliers.