Buying Local: Incorporating IMPLAN Multipliers in Procurement Decisions - IMPLAN Webinars

April 2026 - Economic development policies often aim to "buy local," but traditional procurement processes are almost exclusively driven by the lowest gross bid. This webinar introduces a revolutionary, data-driven alternative: the Net Cost Approach. By utilizing IMPLAN’s sophisticated multiplier effects and tax revenue coefficients, public agencies can move beyond arbitrary percentage preferences and make procurement decisions based on the true economic value returned to their state. Join Bjorn Markeson, Academic Divisional Director at IMPLAN, and Dr. Todd Schmit, Professor at Cornell University’s Dyson School, as they unveil a practical Excel-based tool designed for school food authorities and public agencies. This session explores how to quantify the "hidden" tax revenues generated by local linkages, providing a transparent and legally defensible method to support regional producers while optimizing government spending. TIMESTAMPS / CHAPTERS: 0:00 - Introduction & Speaker Welcomes 5:10 - Bridging Academic Research with Extension Stakeholder Needs 7:45 - The Scale of Public Procurement: New York’s $1B Food Market 10:35 - Beyond "Lowest Cost": Externalities and Non-Market Value 12:30 - Defining "Local": New York’s 30% Initiative & Executive Order 32 15:55 - The Net Cost Approach: Deducting Tax Revenues from Gross Bids 17:25 - Methodology: Building Customized Multipliers in IMPLAN 20:50 - Practical Implementation: Mapping Products to IMPLAN Sectors 23:45 - The Vendor "Ask": Transparency in Sourcing and RPCs 26:30 - Breaking Down Margins: Food vs. Non-Food Intermediate Inputs 36:30 - LIVE DEMO: Navigating the Net Cost Procurement Tool 43:20 - Case Study: Analyzing Real-World Geo-Preference Bids 49:30 - Incentivizing Local Participation: The 51% Threshold vs. Incremental Credit 55:00 - Live Q&A: Legal Hurdles, Interstate Trade, and Vendor-Led Analysis WHAT YOU'LL LEARN: The Flaws of Arbitrary Preferences: Why a flat 10% local preference often fails to reflect true economic impact compared to sector-specific multipliers. The Net Cost Formula: How to calculate the "B-Star" (net cost) by accounting for backwards linkages and tax revenue generation. IMPLAN Margining Techniques: How to disaggregate a processed food product into its raw farm ingredients to capture local impact accurately. Public Policy Application: Understanding how New York’s 30% local food mandate can be optimized through better economic modeling. The Procurement Tool: A walkthrough of the Excel interface that allows agencies to compare up to 10 bidders based on net economic return. ABOUT IMPLAN: IMPLAN provides the most trusted economic data, software, and consulting services in the U.S. Our platform allows economists, planners, and analysts to quantify the economic impact of any project or policy. Learn more about IMPLAN: https://implan.com/ Request a Demo: https://implan.com/demo-request/ Subscribe for more expert insights:    / @implancloud   #IMPLAN #EconomicImpact #BuyLocal #Procurement #EconomicMultipliers #PublicPolicy #AgEcon