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G 155.18 E26 197719 77 ECONOMIC C IMPACT STUDIESI19 7 7 ECONOMIC IMPACT STUDIESPrepared By:Resource and Support Division Iowa Development Commission 250 Jewett Building Des Moines,IA50309trJ (/):;. RO., :1\'..............during

How to fill out economi c impact studies

How to fill out economi c impact studies

1. Start by defining the purpose and scope of the economic impact study.
2. Gather relevant data and information such as local economic indicators, employment statistics, and business activity records.
3. Identify the key stakeholders and their interests in the study.
4. Determine the approach and methodology to be used for the study, whether it's input-output analysis, cost-benefit analysis, or other recognized methods.
5. Conduct surveys or interviews with businesses, organizations, and individuals affected by the proposed project or policy.
6. Analyze the collected data using appropriate economic models and techniques.
7. Interpret the findings and present them in a clear and concise manner.
8. Consider the limitations and uncertainties associated with the study, and provide recommendations for future research if necessary.

Who needs economi c impact studies?

1. Economic impact studies are needed by various stakeholders including:
2. - Government agencies and policymakers who want to assess the potential effects of proposed projects or policies on the economy.
3. - Businesses and organizations considering expansion, relocation, or investment decisions.
4. - Non-profit organizations and community groups advocating for economic development or opposing certain projects or policies.
5. - Researchers and academicians studying the economic implications of specific actions or events.
6. - Investors and financiers evaluating the viability and profitability of a project or investment.

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What is economic impact studies?

Economic impact studies are assessments that analyze the effects of an event, project, or policy on the economy of a particular area. They evaluate how changes in economic activity will affect employment, income, and overall economic growth.

Who is required to file economic impact studies?

Typically, businesses, governmental agencies, and organizations that are proposing projects or initiatives that could significantly affect the local or regional economy are required to file economic impact studies.

How to fill out economic impact studies?

Filling out economic impact studies involves gathering relevant data, analyzing potential impacts on local jobs, income levels, and tax revenues, and compiling these findings into a structured report that meets the specific guidelines set by the governing body requiring the study.

What is the purpose of economic impact studies?

The purpose of economic impact studies is to provide a quantitative and qualitative analysis of the economic consequences of a proposed project or policy, helping decision-makers understand the potential benefits and challenges involved.

What information must be reported on economic impact studies?

Economic impact studies typically must report data on job creation, investment figures, income generated, tax contributions, and other relevant economic indicators that demonstrate the anticipated impact of the project or initiative.