1. Acceleration Update: BEA’s New Release Schedule for Local Area Personal Income and Product Statistics Jim Zavrel Association for University Business and Economic Research Indianapolis, IN October 9, 2011

2. bea.gov Local Area Personal Income Releases  Advance metro area release  August 9, 2011 (2010)  County compensation release  December 14, 2011 (2008-2010)  Local area personal income  April 24, 2012 (2008-2010)

3. bea.gov Challenges to Acceleration Initiative  Source data  Accelerated Receipt of QCEW from BLS for Wages & Salaries  Transfer receipts, property income, and proprietors’ income - work in progress  IT Challenges  Database modernization  Trial run of accelerated processing systems currently underway

4. bea.gov Acceleration Initiatives  Local area personal income  Fully funded initiative  6 month acceleration  No effect on State releases  Implementation: November, 2012

5. bea.gov Impact of Acceleration  Comprehensive release of all Local Area Personal Income  Metropolitan Statistical Areas, Micropolitan Statistical Areas, Combined Statistical Areas, Metropolitan Divisions, BEA Economic Areas, State Metropolitan/ Non-Metropolitan portions, Counties  Discontinues separate release of Advance Metropolitan Area Personal Income and County Compensation by Industry  Delays Gross Domestic Product by Metropolitan Area to January, 2013

6. bea.gov Proposed Regional Release Schedule 2012  State Quarterly Personal Income, 1st quarter 2008-4th quarter 2011; State Annual Personal Income, 2011 (preliminary estimate) ……………………March 26  Local Area Personal Income, 2010……………………………………………………………….April 23  Gross Domestic Product by State, 2011 (advance estimate) and 2008-2010 (revised estimate)………………………………………………………………………. June 5  State Quarterly Personal Income, 1st quarter 2011-1st quarter 2012………….June 25  State Quarterly Personal Income, 1st quarter 2009-2nd quarter 2012; State Annual Personal Income, 2009-2011 (revised estimate)…………..September 25  Local Area Personal Income, 2011………** Newly Accelerated **………November 26  State Quarterly Personal Income, 1st quarter 2011-3rd quarter 2012 December 19

7. bea.gov Questions  Contact Information: Jim Zavrel Assistant to Chief, Regional Income Division Bureau of Economic Analysis (202) 606-9290 james.zavrel@bea.gov