Economic impact studies are used to identify and measure the effects of changes in economic activity, and to assess the resulting economic implications for businesses, communities, investors, interest groups, and industry sectors.
We have undertaken economic impact studies in which we have assessed the effects of introductions, expansions, or closures of business ventures; the infusion of capital into an area; and the occurrence of events.
We draw on our expertise in impact analysis, economics, finance, planning, market analysis, statistics, and survey analysis to develop custom models of an economy and how it reacts to a change in activity.
This process allows us to measure the impact of the change on output (production or sales), wages, jobs, and tax revenue in a geographic area.
Our professionals have conducted economic impact studies involving a wide range of issues including:
- Ballot initiatives
- Hotels and resorts
- Medical research
- Publicly funded projects
- Real estate developments
- Retail establishments