This paper measures the impact of information quality on the success of firms' investment decisions using the U.S. census as an empirical context. Over the course of a decade, information from the decennial census snapshot likely deviates from the evolving market condition, thereby making the data less relevant. I find that on average, outdated census information increases establishment failure rate by 1.6% per year. The effects are stronger for geographic areas that experience large changes in demographics, for industries that rely on precise information in small trade areas, and for independent retailers that lack alternative sources of demographic information.