Economic Impact Analysis is a tool used to quantify the results of economic events within a defined region. As economic activity occurs, a dynamic economy will react by creating or sustaining jobs. New jobs create labor income. Supporting businesses are impacted as they become a source of goods and services. All of these ripple effects can be captured and analyzed to demonstrate the value of adding a new business or to demonstrate the potential loss of existing businesses. Businesses are not the only economic drivers within a region. The economic benefit of educational institutions, natural amenities, tourist attractions, and government entities can also be modeled. These results are valuable to business owners and all levels of governments.
Impact Study Topic Examples
- Business Activities
- All Terrain Vehicle Use
- Conference Centers
- Museums
- Bicycle Pathways
- Tourist Attractions
- Pharmaceutical Manufacturing
- Community & Technical Colleges
- Private Universities
- Land Development
- Economic Development Office Activities
- Lean Manufacturing
- National Laboratory Operations
- Agricultural Activites
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