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September 10, 2015, Anticipated Local Economic Impacts of Changes in Tax Revenues from the Port Jefferson Power Plant November 5, 2015, Final Report prepared for: Mayor Margot Grant and Trustees of

How to fill out anticipated local economic impacts

How to fill out anticipated local economic impacts:

1. Start by gathering relevant data: Before filling out the anticipated local economic impacts, it is essential to collect all the necessary data. This includes information about the project or event that might have economic implications, historical economic data of the local area, and any other relevant information related to the project.
2. Analyze the potential economic impacts: Once you have gathered the data, it is important to analyze the potential economic impacts. This involves examining the project's potential effects on the local economy, such as job creation, increased revenue, business expansion, or any other economic changes that are likely to occur.
3. Quantify the anticipated impacts: After analyzing the potential economic impacts, it is crucial to quantify them as accurately as possible. This may involve estimating the number of jobs to be created, the expected increase in revenue for local businesses, or any other measurable impact that can be predicted.
4. Consider the direct and indirect impacts: When filling out the anticipated local economic impacts, it is important to consider both the direct and indirect effects. Direct impacts are the immediate changes that will occur due to the project, while indirect impacts are the secondary effects caused by these direct impacts. For example, a new factory opening in a town will provide direct employment opportunities, but it may also lead to indirect benefits such as increased demand for local goods and services.
5. Evaluate potential risks or drawbacks: While filling out the anticipated local economic impacts, it is also essential to evaluate any potential risks or drawbacks associated with the project. This could include considering negative effects on the environment, potential displacement of local businesses, or any other adverse consequences that might arise.

Who needs anticipated local economic impacts:

1. Government entities: Government entities, such as local authorities or planning departments, often require anticipated local economic impacts to assess the potential benefits or disadvantages of a proposed project. This information helps them make informed decisions about whether to approve or disapprove the project based on its economic outcomes.
2. Businesses and investors: Businesses and investors who are considering investing in a specific area may need anticipated local economic impacts to understand the potential profitability or viability of their investment. This information helps them evaluate the economic attractiveness of a location and make informed decisions regarding business expansion or investment decisions.
3. Community organizations: Community organizations, such as chambers of commerce or local development agencies, may require anticipated local economic impacts to advocate for their region's economic growth. This information helps them demonstrate the positive effects of a project and attract potential businesses, investors, or stakeholders to their area.

In summary, filling out anticipated local economic impacts involves gathering relevant data, analyzing potential impacts, quantifying these impacts, considering direct and indirect effects, and evaluating potential risks. This information is needed by government entities, businesses, and investors, as well as community organizations to make informed decisions and advocate for economic growth in a specific area.

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What is anticipated local economic impacts?

Anticipated local economic impacts refer to the forecasted effects a project or development may have on the surrounding economy.

Who is required to file anticipated local economic impacts?

Certain businesses or organizations may be required to file anticipated local economic impacts, depending on local regulations.

How to fill out anticipated local economic impacts?

Anticipated local economic impacts can be filled out by providing detailed information on the projected economic changes resulting from a specific project or development.

What is the purpose of anticipated local economic impacts?

The purpose of anticipated local economic impacts is to assess and understand the potential economic effects of a project or development on the local community.

What information must be reported on anticipated local economic impacts?

Information such as job creation, revenue generation, infrastructure improvements, and other economic factors may need to be reported on anticipated local economic impacts.