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STATE OF CALIFORNIA DEPARTMENT OF FINANCE ECONOMIC AND FISCAL IMPACT STATEMENT (REGULATIONS AND ORDERS) STD. 399 (REV. 1212008) See SAM Section 6601 6616 for Instructions and Code Citations DEPARTMENT

How to fill out economic and fiscal impact

How to fill out economic and fiscal impact:

1. Start by gathering relevant data and information related to the project or policy that you are assessing. This may include data on employment rates, government revenues and expenditures, business growth, and market trends.
2. Analyze the collected data to identify the direct and indirect economic and fiscal impacts that the project or policy may have. Direct impacts refer to immediate changes in employment, production, and government revenues, while indirect impacts relate to secondary effects on other sectors or industries.
3. Quantify the economic and fiscal impacts using appropriate economic models and methodologies. This may involve estimating changes in GDP, tax revenues, employment numbers, and public expenditure.
4. Consider any potential limitations or uncertainties in your analysis. Economic and fiscal impact assessments often rely on assumptions and estimates, so it is important to acknowledge and address any potential biases or uncertainties in your findings.

Who needs economic and fiscal impact:

1. Government agencies: Economic and fiscal impact assessments are frequently used by government agencies to inform policy decisions. These assessments provide valuable insights into the potential costs and benefits of different projects or policy initiatives, helping policymakers make informed choices.
2. Private businesses: Businesses may require economic and fiscal impact assessments when considering investments, expansions, or other strategic decisions. Assessing the potential economic and fiscal impacts helps businesses understand the potential return on investment and the broader implications on the local and national economy.
3. Non-profit organizations: Non-profit organizations may need economic and fiscal impact assessments to demonstrate the value and significance of their programs or initiatives. These assessments can help attract funding, support advocacy efforts, and evaluate the effectiveness of their activities.
4. Researchers and academics: Economic and fiscal impact assessments are also used by researchers and academics to study the broader effects of policies, projects, or events. These assessments serve as valuable data sources to understand economic trends, evaluate public interventions, and contribute to the existing body of knowledge in the field of economics and public policy.

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