Local Economic Indicator Project "LEIPs" to the
Forefront Thanks to Supporters

In the Coggin College of Business at UNF, students and faculty are working together to produce important economic data and forecasting in our community via the Local Economic Indicator Project (LEIP).

"Our data analysis could not happen without the generous support of our supporters," noted Dr. Paul M. Mason, Director of LEIP and Chair of the Department of Economics & Geography in the Coggin College. "Longtime supporters like Heritage Capital Group and The Florida Times-Union were joined by new supporter American Enterprise Bank this past year."

Founded by Dr. Mason in 2001, LEIP's main function is the collection and analysis of data from all over the Jacksonville Metropolitan Statistical Area. These data allow the students and faculty to analyze price changes in order to measure inflation, adjust unemployment rates for seasonality, report stock price changes, and produce an index of leading indicators (LEI); to facilitate comparing the local numbers with similar numbers nationwide.

"American Enterprise Bank of Florida is a new full-service community bank based in Jacksonville," said Bennett Brown, President of American Enterprise Bank. "However, our board and staff have lived in the First Coast area for decades. That's why supporting the work of the LEIP project makes sense not only to our banking model, but also for the First Coast community to track how we are doing economically in a variety of areas."

"We have a real passion to serve our small business customers and providing data from the LEIP project helps us accomplish this goal," said Mr. Brown. "A partnership like this provides the insight and statistical information essential to the bank's success and our ability to deliver excellent service to our customers. We're proud of our relationship with the Coggin College."

The supporters of the LEIP project allow for data and methodology development, reporting standards, data acquisition and compensation for the roughly 10 students per year who are selected to work with Dr. Mason on the project.

Additionally, Dr. Mason and the students provide data to Mark Basch at the Florida Times Union monthly to coincide with articles on the national CPI, LEI and the Florida and Jacksonville unemployment rates. Because of the timeliness of the LEIP data, Dr. Mason and the students are frequently asked to guest lecture at meetings, conferences and for the media. Recent lectures include appearances at the following:

Starting in 2007, the LEIP is set to expand its role dramatically. The LEIP website will change from www.leipjax.com to www.leipjax.org.

This change is designed to reflect the unbiased nature of the data and to announce two significant additions. In February 2007, the LEIP site will include a broad array of data sites that consumers, business leaders, students and government officials can access to find economic and business data for the local area, Florida, the nation, and the world.

"We intend to provide a 'one stop shop' for business and economic data," said Dr. Mason. "Additionally, we are excited about the new LEIPLINE newsletter, free with subscription."

The LEIPLINE will debut with articles and commentary providing considerably more detail on what the data mean for the local economy and forecasts of future economic conditions.

"With the continuing generosity of our supporters, the LEIP will always provide reliable local data for many years to come," noted Dr. Mason.