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Economic Impact AssessmentEconomic impacts are those that affect the level of economic activity in a municipality or region - either positively or negatively. For instance, they directly affect the economic well-being of area residents and businesses by changing employment levels and retail expenditures. They may also impact the municipal financial situation by increasing or decreasing the assessment base and the demand for services. An economic impact assessment traces spending through an economy and measures the cumulative effects of that spending. The impact region is determined by the nature of the proposal and can be the entire country, province, an individual municipality or a combination of municipalities. Defining the area of influence is an important first step in the process. Estimating the economic impact of a project or development can be a very helpful process for understanding the potential benefits of various forms of growth. Economic impact assessment generates an estimate of the economic consequences of a particular project on the local economy. However, this provides only one piece of the puzzle in a broader evaluation or decision-making process. For example, there may be social benefits and ecological consequences that need to be taken into account that would require a different methodology. In some cases, a more general cost benefit analysis will attempt to place a monetary value on environmental and social impacts. GD Economics uses a variety of approaches to assess economic impacts that are designed for the specific task at hand.
Economic Impact Assessment
Projects:Edmonton Northlands: Due Diligence on Economic Impact Assessment of the Rexall Indy Motor Race Economic Impact Assessment of Port of St. John's Economic Impact Assessment of Vernon Regional Airport Feasibility of Port Operations in the City of Toronto
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