{"182261":{"#nid":"182261","#data":{"type":"news","title":"Students to Present Impact Analysis of $20 Million Aerospace Investment to State Legislature","body":[{"value":"\u003Cp\u003EIn February of 2011, Governor Nathan Deal announced a nearly $20 million expansion of Pratt \u0026amp; Whitney\u2019s Columbus Engine Center in Columbus, Georgia. Two economics majors have researched the impact of that expansion and will present their research to the Georgia State Legislature.\u003C\/p\u003E\u003Cp\u003EMajority Leader Larry O\u2019Neal has requested that members of the House Economic Development Committee, Special Committee on Small Business Development and Job Creation, and the Ways and Means Committee attend a presentation of research findings by \u003Cstrong\u003EMark Williams\u003C\/strong\u003E and \u003Cstrong\u003EChristopher Taylor\u003C\/strong\u003E, students in the \u003Cstrong\u003ESchool of Economics\u003C\/strong\u003E, on January 15, 2013.\u003C\/p\u003E\u003Cp\u003EWilliams and Taylor spent their Senior Capstone course under \u003Cstrong\u003EChristine Ries\u003C\/strong\u003E, professor in the \u003Cstrong\u003ESchool of Economic\u003C\/strong\u003Es, researching the Pratt \u0026amp; Whitney investment: $19.3 million spent on an expansion to retrofit a building, install new equipment, and overhaul the engine for the F177 \u2013 the power plant for the C-17 Globemaster III military cargo aircraft. Increased service capacity was projected to add about 180 new manufacturing jobs to the 300 already employed at the center, and the investment overall adds to Georgia\u2019s growing preeminence in aerospace in an increasingly competitive and profitable global engine overhaul market.\u003C\/p\u003E\u003Cp\u003EThe key first step of the students\u2019 analysis was the assignment of a NAICS code to represent the industry characteristics of the Pratt \u0026amp; Whitney expansion.\u0026nbsp; Within the economic impact program, the NAICS code determines the size and direction of each step in the path of the ripple effect.\u0026nbsp; Most economic impact analysts choose the code that seems closest to the type of business under analysis; however, the Pratt \u0026amp; Whitney expansion is really a combination of the types of codes available in the NAICS system.\u0026nbsp; It is certainly an aerospace company, but this particular operation represents a service more than a manufacturing operation.\u003C\/p\u003E\u003Cp\u003EWilliams and Taylor compared the analytical results achieved using different and various NAICS codes and compared these to their fuller understanding of the Pratt \u0026amp; Whitney business for this particular operation. In the end, their analysis is a much more accurate projection of the impact of the expansion on Georgia. Their work provides, through use of a complex and important industrial example, an important lesson in the use of economic impact analysis for public policy interpretation and use.\u003C\/p\u003E","summary":null,"format":"limited_html"}],"field_subtitle":"","field_summary":[{"value":"\u003Cp\u003EIn February of 2011, Governor Nathan Deal announced a nearly $20 million expansion of Pratt \u0026amp; Whitney\u2019s Columbus Engine Center in Columbus, Georgia. Two economics majors have researched the impact of that expansion and will present their research to the Georgia State Legislature.\u003C\/p\u003E","format":"limited_html"}],"field_summary_sentence":"","uid":"27663","created_gmt":"2013-01-10 10:49:30","changed_gmt":"2016-10-08 03:13:26","author":"Rebecca Rolfe","boilerplate_text":"","field_publication":"","field_article_url":"","dateline":{"date":"2013-01-10T00:00:00-05:00","iso_date":"2013-01-10T00:00:00-05:00","tz":"America\/New_York"},"extras":[],"hg_media":{"50863":{"id":"50863","type":"image","title":"State Capitol","body":null,"created":"1449175449","gmt_created":"2015-12-03 20:44:09","changed":"1475894473","gmt_changed":"2016-10-08 02:41:13","alt":"State Capitol","file":{"fid":"146036","name":"cap.jpg","image_path":"\/sites\/default\/files\/images\/cap_0.jpg","image_full_path":"http:\/\/www.tlwarc.hg.gatech.edu\/\/sites\/default\/files\/images\/cap_0.jpg","mime":"image\/jpeg","size":1556119,"path_740":"http:\/\/www.tlwarc.hg.gatech.edu\/sites\/default\/files\/styles\/740xx_scale\/public\/images\/cap_0.jpg?itok=2skrZo10"}}},"media_ids":["50863"],"groups":[{"id":"1281","name":"Ivan Allen College of Liberal Arts"}],"categories":[],"keywords":[{"id":"290","name":"Economy"},{"id":"54741","name":"impact analysis"},{"id":"54731","name":"Pratt \u0026 Whitney"}],"core_research_areas":[],"news_room_topics":[],"event_categories":[],"invited_audience":[],"affiliations":[],"classification":[],"areas_of_expertise":[],"news_and_recent_appearances":[],"phone":[],"contact":[{"value":"\u003Cp\u003ERebecca Keane\u003Cbr \/\u003E404-894-1720\u003C\/p\u003E","format":"limited_html"}],"email":[],"slides":[],"orientation":[],"userdata":""}}}