Economic Impact Analysis

For government and businesses alike, EFA can provide economic impact analysis using the latest IMPLAN multipliers and a proven method of describing the effects of decisions. IMPLAN, which stands for IMpact analysis for PLANning, is a model by which municipalities and counties worldwide analyze economic events that ultimately change employment, business revenue, and taxes. This model has three impact classifications that build a complete economic picture. Direct effects are those specific to the event. Indirect effects come from workers and businesses changing their spending to other businesses’ goods and services. This change in revenue flow to other businesses leads to more changes in employment, wages, revenue and taxes. These changes to jobs and revenue are known as induced affects. Induced effects are similar to the indirect effects, but come from the indirectly- affected workers and firms and their new spending and job patterns from the indirect effects. EFA has produced several of these reports for corporate and governmental clients.