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MINORITY BUSINESS EXECUTIVE PROGRAMOperating, Sustaining and Growing a Minority Business / September 17 22, 2017EXECUTIVE EDUCATION In partnership with the UW Consulting and Business Development Center2The

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How to fill out economic impact report

01

To fill out an economic impact report, follow these steps:

02

Gather all relevant financial data and information, such as revenue, expenses, and investments.

03

Identify the specific time period for which you are preparing the report.

04

Calculate the direct economic impact by analyzing the changes in sales, employment, and production resulting from the activity or event being evaluated.

05

Determine the indirect economic impact by considering the ripple effects of the direct impact on related industries and sectors.

06

Assess the induced economic impact by evaluating the changes in personal income and consumer spending resulting from the activity or event.

07

Analyze any potential environmental or social impacts associated with the economic activity.

08

Summarize the key findings and conclusions of the economic impact report.

09

Present the report in a clear and organized manner, using relevant charts, graphs, and tables.

10

Include any supporting documentation, references, and data sources used in the report.

11

Review the report for accuracy and completeness before finalizing and sharing it with the intended audience.

Who needs economic impact report?

01

Various individuals, organizations, and government agencies may require an economic impact report, including:

02

- Business owners and entrepreneurs: They may need the report to assess the potential economic effects of a new project, expansion, or investment.

03

- Government officials and policymakers: They may use the report to evaluate the impact of policy changes, regulations, or proposed projects on the local, regional, or national economy.

04

- Nonprofit organizations: They may require the report to demonstrate the economic benefits and contributions of their initiatives or events.

05

- Researchers and academics: They may use economic impact reports to study and analyze the economic effects of specific activities or events.

06

- Economic development agencies: They may commission or request economic impact reports to attract investment, support planning decisions, or assess the benefits of economic development projects.

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What is economic impact report?

An economic impact report is a study that quantifies the effect of a specific event, policy, or project on the economy.

Who is required to file economic impact report?

Certain organizations or individuals may be required to file an economic impact report, depending on the regulations of the governing body.

How to fill out economic impact report?

To fill out an economic impact report, one must gather relevant data on the project or event and analyze its potential economic effects.

What is the purpose of economic impact report?

The purpose of an economic impact report is to inform decision makers and stakeholders about the potential economic consequences of a particular action.

What information must be reported on economic impact report?

An economic impact report should include data on job creation, revenue generation, and other relevant economic indicators.

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