Southeastern Michigan Economic Data Center launched at Oakland University

Reviewing economic data and trends just got easier for new businesses and corporations looking to move to Michigan.

The newly launched the Southeastern Michigan Economic Data Center, housed in Oakland University’s School of Business Administration, offers information and analysis on economic, demographic and business trends in southeastern Michigan. Founded and led by Jonathan Silberman, professor of Economics, the site compiles data from a wealth of resources throughout the state and nation that is constantly updated with the latest and most accurate facts and figures.

“The information will never be completely static because it is continually updated and we can make adjustments as we need,” he explains. “We will continually take feedback from our constituents and users to focus on important areas of use.”

The content is available all in one convenient site with automatic updating through DataZoa, keeping the information always current. DataZoa is a web service that provides users access to national and international statistics in areas of economics, health, energy, demographics and finance. DataZoa users gather chosen data into their own personal web-based account. From there, dataZoa users view, analyze, share, download, and create vivid website embeddable charts and tabular displays with this data.

“This is information that we would originally have to track down via numerous federal government, business sites and web searches. The center places it all in one location,” he says.

“When a potential business, corporation or service is considering relocating or starting in a new area, being able to access quality information about the community and region is essential,” Silberman says. “The information on the economic center site can help business operators and investors make informed decisions regarding development, growth and markets in the community.”

He also adds that, “Accurate information regarding a community and the trends it is experiencing can help identify and develop new potential needs and opportunities.”

Categories on the site include Insights, Labor Market, Consumer Prices, Employment and Earnings, Real Estate and News. Recent posts include data ranging from venture capital trends to apartment construction.

“The audience for the site is anyone interested in the local economy. It’s a source to help them make decisions using current information,” Silberman says. “This can include economic reporters, chambers of commerce, relocating or new businesses…it’s a way to start businesses and to promote and better understand the region.”

Paul Traub, a senior business economist with the Federal Reserve Bank of Chicago-Detroit, has reviewed the site and says it has an important use also for students, writers and others who want to analyze data and trends for research projects or articles. He also says his office is impressed by its wide, yet regionalized scope.

“What’s nice is that it covers all basic sectors of the economy yet it is very regional in information and focus,” Traub says. “It is a quick one-stop place to go for data.”

Silberman says that although a few other universities across the country have such sites, Oakland’s in the only one in Michigan focusing on the region’s trends and statistics.