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THE Center FOR PUBLIC POLICY ALTERNATIVES (cpparesearch.org) Economic Impact Assessment to Measure the Benefits Received by the Micro Enterprises of Lagos Due to Local Levies Bill July 2013 Economic

How to fill out economic impact assessment on

How to fill out economic impact assessment on:

1. Start by gathering relevant information: Collect data on the project or activity that you want to assess the economic impact for. This can include details on investments, job creation, sales or revenue, and any other relevant financial information.
2. Identify the economic indicators: Determine the key economic indicators that will be used to measure the impact. This can include direct job creation, indirect job creation, changes in sales revenue, changes in tax revenue, and other relevant metrics.
3. Analyze the baseline data: Evaluate the existing economic situation before the project or activity took place. This will help establish a basis for comparison and measure the change that the project is expected to bring.
4. Assess the direct impacts: Determine the immediate effects of the project or activity on the local economy. This includes measuring the direct job creation, changes in sales or revenue, and any other direct economic changes that occur.
5. Consider indirect impacts: Take into account the secondary effects that the project may have on the economy. This can include the spending or investment patterns of employees who benefit from the project, changes in supplier industries, or any other indirect economic effects.
6. Evaluate the induced impacts: Examine the additional economic changes that occur as a result of the increased household income generated by the project. This can include changes in consumer spending, economic multiplier effects, and other induced economic impacts.
7. Calculate the net economic impact: Summarize the direct, indirect, and induced impacts to calculate the overall net economic impact of the project or activity. This can be done by assigning appropriate weights to different impacts and aggregating the results.

Who needs economic impact assessment on:

1. Governments and policymakers: Economic impact assessments can provide valuable insights for governments and policymakers in order to make informed decisions about projects, policies, or regulations. It helps them understand the potential effects on the local economy and make informed choices.
2. Investors and businesses: Economic impact assessments can be beneficial for investors and businesses to evaluate the potential return on investment and assess the feasibility and viability of projects. It allows them to make informed decisions about investments, expansions, or changes in operations.
3. Non-profit organizations and community groups: Economic impact assessments can help non-profit organizations and community groups understand how a proposed project or activity may affect the local economy. It enables them to advocate for their interests and engage in discussions about potential benefits and trade-offs.

Overall, conducting an economic impact assessment and understanding who needs it can assist in making informed decisions, promoting transparency, and ensuring that economic activities align with the goals and interests of various stakeholders.

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What is economic impact assessment on?

Economic impact assessment evaluates the effect of a particular policy, program, project, or event on the economy.

Who is required to file economic impact assessment on?

Government agencies, organizations, or individuals involved in activities that could have significant economic implications.

How to fill out economic impact assessment on?

The assessment should include detailed analysis of various economic factors such as GDP, employment, revenue, and costs.

What is the purpose of economic impact assessment on?

The purpose is to understand and quantify the economic consequences of a decision or action.

What information must be reported on economic impact assessment on?

Information such as baseline economic conditions, projected impacts, assumptions made, and methodology used.