4-FB27-1 Scope of Work.pdf
PDF 98 KB Posted
- Attached to
- GOPB Economic Forecast Data
- Solicitation number
- FB27-1
- Issued by
- Utah
About this file
This is a Scope of Work document prepared by the Utah Governor's Office of Planning and Budget (GOPB) outlining the requirements for an economic forecasting data subscription service. The State of Utah seeks a contractor to provide United States and Utah-specific economic modeling data, including both historical and real-time information, to support budget and revenue scenario development and macroeconomic stress testing. The contractor must deliver 10 distinct forecast scenarios (Alternative Scenarios 0-4, Slower-Trend Growth, Stagflation, Next-Cycle Recession, Low Oil Price, and Consensus scenarios) with forecasted indicators across 11 sectors: banking, consumer sector, demographics, government, gross state product, personal income, wages, industrial sector, labor markets, real estate, and retail sales. The subscription is scheduled to commence on September 25, 2026.
The data delivery must support GOPB's existing customized and preformatted report templates through a robust economic data platform offering varying levels of geographic, periodic, and granular detail. Required platform capabilities include chart conversion, data transformation options, batch download functionality, advanced filter and search capabilities, scheduled data query options, data mapping features, and integration with Microsoft Office applications. The State of Utah has indicated its intent to award this contract without engaging in a standard competitive procurement process, citing justifications documented in the procurement unit's submission to the Division of Purchasing under the Utah Procurement Code.
View the file
Other files
| File | Type | Posted |
|---|---|---|
| 1-Claim of Business Confidentiality Updated.pdf.pdf | ||
| 2-Part 8 Notice.pdf.pdf | ||
| 3-FB27-1 Part 8 Form U3P.pdf |
On GovTribe
Work with this file
- Download the original file
- Contacts named in this file
- Similar government files
- Ask GovTribe AI about this file
Text version
Attachment B: Scope of Work
Utah Economic Forecast Data
Governor's Office of Planning and Budget (GOPB) and partners utilize subscriptions to United States and
Utah-specific economic modeling and historical, real time, and forecasting data to develop budget and revenue scenarios. This is particularly important for stress testing, in which various macroeconomic scenarios are used to estimate the impact of macroeconomic shocks on key revenue and expenditure categories.
Specifications for Forecasting Data
The Utah-level data must include the following 10 scenarios:
We are currently receiving 10 different forecast scenarios for state of Utah-level data:
S0: Alternative Scenario 0 – Upside – 4th Percentile
S1: Alternative Scenario 1 – Upside – 10th Percentile
S2: Alternative Scenario 2 – Downside – 75th Percentile
S3: Alternative Scenario 3 – Downside – 90th Percentile
S4: Alternative Scenario 4 – Downside – 96th Percentile
S5: Slower-Trend Growth Scenario
S6: Stagflation Scenario
S7: Next-Cycle Recession Scenario
S8: Low Oil Price Scenario
CF: Consensus Scenario
For each of those 10 scenarios, we require forecasted indicators in the following sectors:
Banking
Consumer sector
Demographics
Government
Gross State Product
Personal Income
Wages
Industrial sector
Labor markets
Real estate
Retail sales
Specifications for Historical and Real-Time Data
GOPB will utilize the unique data provided by the contractor for economic and revenue projects for the State of Utah. The contractor provides specific economic data that interfaces with existing customized and preformatted report templates used by GOPB. The subscription provided by the contractor will meet the following needs will allow GOPB to do the following:
• Access to a robust economic data series that is available at varying levels of geography, periodicity and granularity.
• Chart conversion, data transformation options and batching download options are required.
• Filter and search functions, ability to schedule future data queries, map data and integration with Microsoft Office.
Timeline
The start date of the subscription would need to be September 25, 2026.
File details come from the government source that posted it. Updated .