The construction and operation of public infrastructure projects and large private development projects generates economic activity throughout local and regional economies. Measuring these impacts, in terms of increased business sales, personal earnings, and jobs allows supporters and developers of these projects to demonstrate the economic impact and importance of the project to constituents, the general public, and various other stakeholders.
GEC’s staff of economists and planners has broad experience in estimating the economic impact of proposed or existing projects on local and regional economies. This experience includes estimating local and regional impacts of large public works projects, such as waterway projects utilized for both commercial and recreational uses, and industrial, commercial, and institutional projects.
The project history of GEC’s Economics and Planning staff includes more than 600 projects involving the development of baseline and projected economic conditions, and economic impact analysis of construction and operation of public and private projects of varying size. The staff is experienced in the use of economic databases and economic impact models such as IMPLAN, RIMS-II, PORTKIT, and others. The staff has also developed single-use input-output models to determine the local and regional effects of economic development strategies.
- Determination of the Affected Area
- Economic Baseline Studies
- Demographic Analysis and Projection
- Future With and Without Project Conditions
- Determination of Project Impacts on Employment, Income and Tax Revenues
- Calculation of Regional Economic Development Benefits
- Development of Input-Output Models
- Use of Existing Input-Output Models such as IMPLAN
GEC’s economist have provided economic impact and feasibility services to the state of Louisiana – Department of Transportation – Aviation Services with the impact of the current Aviation fuel tba and the proposed increase of $0.01 per, also of the tax on the Aviation community.