Webinar: Impact Analysis
The Lake Superior Community Partnership (LSCP) has launched a new business development service and is now conducting Economic Impact Studies. Economic Impact Studies assess the potential for investment in the community to generate wealth, contribute to taxes, and create jobs in the regional economy. When there is potential for new investment, one of the many factors considered is the impact that investment will have on the region. Using Implan’s analytic database, the LSCP can estimate the monetary impact that a given project will have, which can be vital information in attempting to attain funds and garner support for that project.
Economic Impact Studies can also estimate the impact generated by events held in the region. Tourism and events play a significant role in new money being injected into our area’s economy. This new money influences the additional earnings generated by local workers, additional taxes paid to the local economy, and new local jobs created. The LSCP can work with organizers to collect and organize the necessary data for conducting the analysis to estimate these influences. By conducting Economic Impact Studies, the LSCP can help to provide useful information to aid in improving local economic conditions.
To learn more contact Mary Kate DiVirgilio at email@example.com or (906) 226-6591 ext. 100.