Economic Impact Reports
Economic Impact Report Basics
We believe that every good project needs an analysis that highlights the number of temporary and permanent jobs and incremental taxes to local, state, and federal partners. Our team works with clients to dissect the project, understand the 'multiple', and deliver a document that can be used for grants and public assistance. We often work with developers to substantiate the need for hotel Transit Occupancy Tax (TOT) rebates, infrastructure support, or other incentive negotiation.
Local Equity uses multiple econometric modelling platforms to calculate the direct, indirect, and implied impacts of a potential development. such econometric modelling platforms utilize input-output model basics. They trace spending through an economy and measure the cumulative effects of such spending based on hundreds of data points. Input-Output (I-O) analysis is designed to predict the ripple effect of economic activity by using data from historical spending. Production in a given industry in an economy supports the demand for production in industries throughout the economy due to supply chain spending and spending by workers.
Data requirements include:
Output models include: