New tool created to assist economic development professionals in forecasting regional growth
MANCHESTER, N.H. (November 8, 2010) FairPoint Communications today announced it is introducing a powerful economic development modeling tool to assist economic development and planning professionals in forecasting regional growth. The announcement was made today at a press conference held at the State of New Hampshire Legislative Office Building in Concord. Joining FairPoint Communications State President Teresa Rosenberger were Commissioners George Bald of the New Hampshire Department of Resources and Economic Development, Tara Reardon, Department of Employment Security, George Copadis, Department of Labor and Liz Gray, Governor Lynch’s Special Assistant for Policy.
The Connect NNE Economic Scenario Model™ is a FairPoint-sponsored Microsoft Office Excel-based software tool created to provide information on existing economic conditions and estimate potential impacts of new development and job creation scenarios in New Hampshire and across northern New England. The model allows users to estimate impact on jobs, earnings, output and gross domestic product (GDP) resulting from changing a region’s economic focus.
“In the past two years, we have heard from economic development leaders that they are looking for tools to help them understand influences on the local economies,” said Teresa Rosenberger, state president for FairPoint in New Hampshire. “This software tool will provide local communities with quantitative data to support economic development initiatives that will help the communities grow and prosper and, in turn, provide a benefit to all.”
“This model will provide economic development professionals across the state with a much needed tool that will allow us to benchmark the region’s current economic status and forecast the impact of future economic and community development strategies,” said George Bald, commissioner, New Hampshire Department of Resources and Economic Development speaking on behalf of Commissioners Copadis and Reardon as well. “With New Hampshire-specific data, we can compare public infrastructure projects competing for limited available funds as well as calculate the economic impact of a capital investment proposal.”
The model was launched in Maine and has been used by economic development professionals there to show the impact that a soon-to be-abandoned rail spur in Aroostook County would have on jobs and gross domestic product, gaining the attention of Maine’s legislature and providing data to support a bond initiative. Supporters of a charter school in northern Maine used the model to calculate the economic benefit to the area in earnings and jobs, adding quantitative data to the discussion that resulted in the school staying open at its existing location. Output from the model has also been part of discussions on the impact of various plant closures, helping benchmark equivalent job replacement strategies. Annual updates ensure that the model is using the most up-to-date data and that its functionality continues to be improved.
FairPoint is offering hands-on training sessions led by its economic development arm, Connect NNE, at six sites across New Hampshire.
November 8th (2:30-5:00 pm)
Greater Nashua Chamber of Commerce, 151 Main Street, Nashua, N.H.
November 9th (9:00-11:30 am)
Grappone Conference Center, 70 Constitution Avenue, Concord, N.H.
November 9th (2:00-4:30 pm)
Greater Manchester Chamber of Commerce, 54 Hanover Street, Manchester, N.H.
November 10th (2:30-5:00 pm)
Granite State College, 53 Technology Lane, Suite 150, Conway, N.H.
November 12th (9:00-11:30 am)
Great Bay Community College, 320 Corporate Drive, Portsmouth, N.H.
December 7th (9:00 – 11:30 am)
Courtyard by Marriott, Downtown Keene, 74 Railroad Street, Keene, N.H.
Economic development professionals interested in attending one of these sessions are asked to contact firstname.lastname@example.org.
FairPoint Communications, Inc. is an industry leading provider of communications services to communities across the country. Today, FairPoint owns and operates local exchange companies in 18 states offering advanced communications with a personal touch, including local and long distance voice, data, Internet, television and broadband services. Learn more at www.FairPoint.com.
Jill Healey Wurm