Ohio State University Extension http://comdev.osu.edu

Community Development

Ohio State University Extension

Economic Impact Analysis Program

The Economic Impact Analysis (EIA) Program provides community leaders, stakeholders, and economic development organizations with the data needed to develop effective strategic plans to improve the economic viability in their area.

OSU Extension Community Development staff utilizes IMPLAN, input-output modeling software, to generate analysis models for a given geographic area. The models can provide analyses ranging from a snapshot of the current economy to information on the effects that a change in any local industry sector has on the other industry sectors in the analysis area. The reports can include information on changes in employment, labor income, value added, output, and taxes.

The analysis area can range from a single county to multiple counties (a region) or even to a statewide level. Multiple analyses can also be requested for any number of these analysis areas. Furthermore, each of the program offerings can include an optional workshop with OSU Extension Community Development staff and the local partner/stakeholders to discuss the findings and further analyze the data derived from the reports. Due to all of these various options, pricing for this program will vary on a case-by-case basis.

Offerings:

Industry Profile Report
With the Industry Profile Report the partner will specify the area to be analyzed – ranging from a single county to a region (group of counties). The profile created will identify the top industries in the analysis area by sector and will describe employment, tax contribution and wages for the top five sectors. The profile will aid the partner in identifying potential implications and assets for their community.

Project Effect Report
This analysis shows the impact that a past or recent project has on the selected analysis area. These reports are highly effective for displaying the value of projects to local community leaders and stakeholders, as well as the value that a local economic development organization offers its service area. The Project Effect Report displays all of the direct, indirect and induced effects that a change in one local industry sector, positive or negative, has on other sectors in the analysis area.

Industry Contribution Report
Again the partner specifies the geographic area for analysis. The Industry Contribution Report provides a detailed look at the contribution of an industry sector to the community and region. For example, the report could gauge how extensive the impact agriculture, tourism or manufacturing sectors to the economy of the specified analysis area.

Economic Impact Analysis
The most in-depth option for analysis is the Economic Impact Analysis (EIA). This report provides a comprehensive analysis of the economic impact an event has on the local economy when taking place in a variety of selected industry sectors. Those industry sectors analyzed are chosen by the partner and OSU Extension Community Development staff. The EIA can assist in identifying what type of industry is best to target for the local economy.

Program Contacts: Nancy Bowen / David Civittolo

Program Flyer

Examples of final reports:
Wyandot County Economic Impact Analysis (July 2014)
Ohio Ethanol Producers Association Economic Impact Analysis (October 2012)

 

Resources:

Shale Energy Development Economic Impact Analysis Fact Sheet Series

 

Read more: Related news story and blog article