The vendor is required to provide a subscription-based economic and workforce data software platform.
- The platform will serve as a decision-making tool for academic programming, labor market analysis, and compliance with state and federal workforce reporting standards, including the eligible training provider list (ETPL).
- Requirements:
a. Economic modeling capabilities:
• Comprehensive access to regional, state, and national labor market data.
• Datasets covering employment trends, wages, job projections, demographics.
• Tools within the platform for generating institution-specific labor market reports.
• Platform support for analyzing employment statistics, industry clusters, job trends.
• The platform's data and modeling capabilities must be sufficient to support a rigorous economic impact study (EIS) analysis
b. Career-focused insights (platform output):
• Platform ability to generate career reports including job availability, salary comparisons, commuting patterns.
• Platform inclusion of projections for emerging industries and occupations.
• Access to unemployment and job retention metrics within the platform.
• Platform tools for cost-of-living comparisons. c. Usability and customization (platform):
• Web-based platform access with secure login.
• Custom branding options for each institution’s interface.
• Geographic scope of platform data covering state and surroundings.
• Variable user license options available by institution.
• Commitment to regular data updates and platform maintenance
d. Implementation & support (platform & EIS):
• Clearly defined project timeline for initial platform setup/data intake and deployment.
• Clearly defined project plan and timeline specifically for the economic impact study component
• Ongoing technical support for the software platform.
• Dedicated account representative or support team responsible for both platform support and EIS project management.
• Optional staff training on platform usage and understanding/utilizing EIS results.
e. Economic impact study (EIS) - integrated service component:
• Objective: as a key service delivered by the vendor utilizing their platform and data, quantify and demonstrate the economic and social impact of the new jersey community colleges on their region and the state.
• Analyses required: conduct and report on:
o Economic impact analysis: measuring direct/indirect effects (operations, construction (if applicable), student spending, alumni impact).
o Investment analysis: assessing ROI for students, taxpayers, and society.
1. Methodology: vendor must utilize a recognized EIS model (e.g., acct-based or similar), leveraging the core platform data combined with necessary college provided data and other sources.
2. Methodology, assumptions, and data sources must be clearly documented.
• Potential contract deliverables: produce and deliver within the contract period:
o A statewide aggregate EIS report (main report, exec summary, fact sheet, ppt, infographic).
o Individual college EIS reports (main report, exec summary, fact sheet, ppt) for each opt-in college.
o All EIS reports professionally formatted and customized. drafts provided for review. - Contract Period/Term: 5 years
- Questions/Inquires Deadline: May 09, 2025