This article details the evolution and refinement of a low-cost study of economic conditions in a small metropolitan area over the past 22 years. Annually, the chamber of commerce of the study area collaborates with faculty members at a local university to conduct the research, which is shared with business and community leaders at a regional economic summit. The study addresses the unique information needs for a local economy that are not filled by existing federal and state data. Specific measures include projected changes in employment and an “optimism scale” for local organizations. Over time, the study’s methodology has evolved from a paper survey to include an online survey option, as well as the addition of new measures to address changing community needs. The approach is technically and financially sustainable and within the reach of local organizations with modest research budgets. The study could be adopted easily in other small communities.

This article describes a practical, low-cost research approach for tracking economic conditions in a small community. The federal government and even some state and large city governments have already addressed this issue with national and regional economic forecasts. But what about the fate of small, isolated metropolitan areas? National and regional forecasts that provide information of a macro nature do not contain data relevant to businesses in a small community. This article describes an approach used in a small Pennsylvania community that has employed a longitudinal study of local economic conditions extending over the past 8 years. The information obtained from this study has proven beneficial to local businesses, economic development agencies, elected officials, and others who are involved in improving the economic health of the community. The approach is technically and financially within reach of local organizations with modest research budgets and can be adapted readily to help other small communities.