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Assessing Economic Impacts - EDR Group

Economic Development Research Group April 1997. MEASURING Economic Impacts OF. PROJECTS AND PROGRAMS. GLEN WEISBROD, Economic DEVELOPMENT RESEARCH Group . BURTON WEISBROD, ECONOMICS DEPT., NORTHWESTERN UNIV. There is often interest in Assessing the local or regional Economic Impacts of a project, program or policy. However, Economic Impacts are easily misrepresented. This primer explains the fundamental options and tradeoffs involved in selecting the right kind of techniques for Assessing Economic Impacts , and explains how to match the appropriate methods to different kinds of applications or situations. 1. WHAT ARE Economic Impacts ? Economic Impacts are effects on the level of Economic activity in a given area. They may be viewed in terms of: (1) business output (or sales volume), (2) value added (or gross regional product), (3) wealth (including property values), (4) personal income (including wages), or (5) jobs.

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