Regional Economic Accounts: About Regional
Overview of the Regional Program
The regional economic accounts tell us about the geographic distribution of U.S. economic activity and growth. The estimates of gross domestic product by state and state and local area personal income, and the accompanying detail, provide a consistent framework for analyzing and comparing individual state and local area economies.
- For detailed information on Data Availability, see Regional Data Table Availability.
Uses of the Regional Program Estimates
- The Federal government uses regional income and product estimates to distribute funds to states:
- BEA Regional Income and Product Account Estimates Used to Distribute $399.0 Billion in Federal Funds, FY2015 | September 2016 (PPTX pie chart)
- FY2015 Federal Funds Distribution Using BEA Regional Income and Product Account Statistics | September 2016 (PDF)
- Federal Uses of BEA Regional Statistics, FY2015 | September 2016 (PDF)
- Twenty-six states have set constitutional or statutory limits on state government revenues or spending that are tied to BEA state personal income or one of its components | September 2016 (PPT)
- The National Oceanic and Atmospheric Administration (NOAA) produces statistics for coastal areas, utilizing BEA regional statistics.
- Academic researchers use the estimates for applied economic research.
- Businesses, trade associations, and labor organizations use the estimates for market research.
BEA participates in conferences and workshops nationwide to help users better understand and use its products and services.
On September 29, 2009, BEA sponsored a day-long workshop in partnership with the Pacific Norwest Regional Economic Analysis Project and the University of Nevada Center for Economic Development. The workshop successfully accomplished its goals of: 1) providing attendees the opportunity to learn about and gain hands-on experience with the variety of regional data produced by the Bureau of Economic Analysis; 2) connecting attendees with experts from the University of Nevada who can help interpret the performance of local economies; 3) demonstrating analytical tools developed by the Nevada Regional Economic Analysis Project useful for evaluating regional economic trends and assessing the economic structure and performance of counties throughout the state of Nevada; and 4) creating a unique opportunity for data users to network and share their experiences using BEA regional data, and to provide feedback on how access to the data can be improved.
- Navigating the Nevada Economy: Data and Tools for Understanding Our State & Local Economies
- News release from the University of Nevada Announcing the Workshop— Workshop Offers Business Leaders Insight On Trends (8/27/2009)
- Reports on the workshop:
In September 2006 a day-long conference was held by ACCRA and BEA, in partnership with the State of Texas Office of the Governor, Economic Development and Tourism and the Greater Dallas Chamber— Understanding Regional Economic Data for Policy and Planning.
BEA User Group Program
The regional program maintains a partnership with a group of users named the BEA User Group. The members of this group include State agencies, universities, and Census Primary State Data Centers. The BEA User Group disseminates regional data and gives feedback on our estimates and the presentation of the estimates. Distribution in this way encourages State universities and State agencies to use data that are comparable for all States and counties and consistent with national totals, thus enhancing the uniformity of analytic approaches taken in economic development programs and improving the recipients' ability to assess local area economic developments and to service their local clientele.