FSU InSPIRE Taps CEFA to Measure Impact on Strategic Initiatives

Renowned for applying advanced, computer-based models and techniques to perform comprehensive economic analyses, CEFA (Center for Economic Forecasting and Analysis) has been tasked with measuring the overall economic impact of FSU InSPIRE (Institute for Strategic Partnerships, Innovation, Research, & Education). Currently, CEFA is establishing measurable variables in mentorship, education, business, and industry impact and quantifying economic growth.

Due to the long-term vision of InSPIRE, CEFA is building its analysis on a zero baseline, with incremental, two-year growth targets over the next ten+ years. Collecting measurable statistics early on establishes powerful data analytics that can demonstrate value, effectiveness, and efficacy.

Both short- and long-term data-driven methodologies help illustrate impact and value

“This collaborative effort with FSU InSPIRE is designed to translate real-world data into justifiable impact, showcasing InSPIRE’s strengths in delivering results that create lasting, long-term positive influence,” said CEFA Director, Julie Harrington. “CEFA’s economic analyses are also often used to assist in framing policy decisions and furthering economic research.”

Staffed with senior PhD researchers and graduate students with expertise in applied economics, business, finance, and mathematics, CEFA is starting to track and populate data on InSPIRE’s education and talent development initiatives. Their methodologies will eventually align with the four key focus areas within InSPIRE: advanced manufacturing, developmental testing and evaluation, future technologies, and workforce development.

“The methodologies we create can be replicated to help other companies pursue funding opportunities and spin off other applications,” added Harrington. “We’re really excited to partner with FSU InSPIRE and measure how high-tech developments can truly transform rural and semi-rural communities into places where students and professionals can stay and prosper.”

Learn more about CEFA’s current and past projects.

Category