Economic Impact Modeling
Our economic impact assessment methodology involves the use of a technique called “input-output modeling,” originally developed by the economist Wassily Leontif. Today, software packages such as IMPLAN™, which we use in our practice, offer an automated, yet customizable, approach to Leontif-type input-output analysis.
Local Economy Modeling
Our work involves the development of a structural model of a local economy. Then, the model is used to determine the way in which gross local product (local GDP), employment, and tax revenue changes as certain corporate activities migrate to, or from, the local economy.