2022 Economic Census is Underway. Have you responded?
The March 15, 2023 deadline to respond to the 2022 Economic Census is fast approaching! Have you responded yet? Let me tell you why it’s important to do so.
The economic census is, by far, the most comprehensive measure of our U.S. economy. Every five years we gather data about America’s businesses, its workforce, and trillions of dollars in sales by products and services.
Data from the economic census are the foundation for our nation’s gross domestic product (GDP) and other leading economic indicators. It also provides critical information to businesses, trade associations, economic development organizations, and state, local and tribal governments. They need this information to make informed decisions affecting the health of America’s economy.
For example, the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Fund calls for a $50 billion investment to catalyze long-term growth in the domestic semiconductor industry. Data from the economic census provide valuable statistics for local chip production manufacturing plants.
Economic Census data are highly useful to the small business sector, as well. A fishing supply store owner in Florida could use economic census data to identify possible new store locations based on other, similar businesses in his area. And a grant writer in Tennessee could use the economic census to request funding to address a lack of grocery stores it shows in their area.
This economic census is gathering 2022 year-end data about over eight million U.S. employer business establishments. We’ve updated the content to reflect changes in the economy – for example, we’re asking about the acquisition and use of business technologies like touch screens, electric vehicles, additive manufacturing and robotics.
We didn’t send the economic census to every business. To reduce the burden, we’re collecting data from about four million businesses and using administrative records for the rest.
We began sending out questionnaires at the end of January, and responses are due March 15.
If your business received the economic census questionnaire, I encourage you to respond. Your response makes a difference. The census is conducted online and all responses are confidential.
I invite you to visit census.gov/econ to find out what’s new for the economic census. You can also see our planned data release schedule and get answers to frequently asked questions.
Thank you for your participation!