Economic Impact Analysis

Economic Impact Graph

Economic impact analysis uses sophisticated modeling to simulate and predict the economic effects of a new business location or project and measures the cumulative effects of that economic activity. The impact region can be one county, multiple counties, a metro area, or even an entire state.

Economic impact questions that could be answered by such a simulation may include: "What would be the economic impact upon the Charlotte metro area if ABC Corporation spent $50 million to expand its operations?" Another example may include "What would the economic impact be upon the middle Georgia region if a new hospital was constructed in Macon?"

Typically the results of an economic impact analysis forecast the number of jobs created (or lost); the increase (or decrease) in local personal income; and the increase (or decrease) in overall economic output by the activity in question. If necessary, an economic impact analysis can show the impact across more than 500 individual sectors of a region's economy.