From the Census Bureau blog:
The economic census is the U.S. Government’s official five-year measure of American business and the economy. Collected for years ending in “2” and “7,” economic census results serve as the foundation for the gross domestic product (GDP) and other indicators of economic performance. This cornerstone of U.S. business activity provides an essential benchmark for our nation’s economic indicators.
Many people rely on economic census data. Chambers of Commerce rely on statistics from the economic census to promote economic development in their industries and local areas. Business associations use economic census statistics for strategic planning. Businesses also use the information to research and identify new markets for their products or services. Government offices, at every level, also rely on economic statistics for making important decisions affecting cities, counties and states.