How Often Should You Report Out?
frequency with which you report economic impact data largely will depend
on what your sponsors and other supporters expect of you.
At the Enterprise Center of Johnson County in Lenexa, Kansas, CEO & President Joel Wiggins is required to report out to the state each quarter. Since he has to compile the data anyway, he also puts it to use at his quarterly board meetings, giving board members a close look at impact on a regular basis. In January of each year, he collects data for the fourth quarter of the previous year, which means he presents some incomplete data at the first board meeting of each year. “We often have incomplete data from the fourth quarter,” Wiggins says. “But we continue to collect and it shows up at the next meeting. We show five quarters running so they can go back and compare.”
Wiggins also receives county funding each year, and although the county doesn’t require quarterly economic impact data, he submits it there as well. “The commissioners want results, and the data provide a reason for their continued financial support,” he says.
If your sponsors request only annual reporting, get in the habit of annually reporting out to non-sponsors as well: community leaders, the media, and other economic development organizations in your community. If your sponsors request more frequent data, consider keeping others on your list up-to-date more frequently as well.