Published December 2002

Do your part to ensure accurate Economic Census

By Kimberly Hilden
SCBJ Assistant Editor

This month, the federal government will send out more than 5 million Economic Census forms to businesses across the United States, with an estimated 10,000 landing in the mailboxes of Snohomish County companies.

If yours happens to be one of them, be sure to complete the form and turn it in by Feb. 12.

Why?

Well, for one thing, it’s the law. According to Title 13 of the U.S. Code, businesses that receive a form are required to respond, with penalties of up to $500 for failure to report and $10,000 for intentionally providing false information.

For another, your business stands to benefit, either directly or indirectly, from the information that is collected and processed confidentially — information on sales, operational status, payroll and employment as well as other questions specific to your industry.

Economic policy makers will use the resulting statistical data to project trends, guide economic development and assess the impact of economic policy, while businesses — including yours — can use that data to develop business plans, define markets and gauge the competition.

Commenting on the importance of the economic census, William Dunkelberg, chief economist for the National Federation of Independent Business, said the data enables small businesses to find out what’s happening in their own markets, enabling them to operate more effectively in serving their consumers and growing and creating jobs.

And Alan Greenspan, chairman of the Federal Reserve Board, has called the Economic Census “indispensable to understanding America’s economy.”

Taken every five years, the Economic Census has evolved with the times, adding new industries to the mix, new procedures for data collection and new technology for data processing. This year is no exception.

For the 2002 Economic Census, new features include:

• Questions relating to e-commerce sales, leased employees, and supply-chain functions and outsourcing.
• More industries, including residential remodeling, discount department stores, electronic auctions, and Internet publishing and broadcasting.
• Electronic-filing capabilities.
• An Internet-based “Business Help Desk” at www.census.gov/econhelp.

Data collected for 2002 will be processed during the coming year, with the first data being released in early 2004.

When all is said and done, the U.S. Census Bureau expects the 2002 Economic Census to produce more than 1,600 data products, with information on more than 1,000 industries and 50,000 geographic areas — including Snohomish County.

So, if your business receives an Economic Census form, don’t throw it out. Fill it out and send it in.

In the words of Greenspan: “Returning your Economic Census form helps us all.”

For more information on the 2002 Economic Census, visit online at www.census.gov/econ2002.

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