Economic Impact Analysis

Analysis to understand potential economic impacts of local economic changes.

The Economic Growth Institute supports businesses and local leaders in understanding the potential economic impacts of changes to their economy. Additionally, we work with industry organizations that want to understand how their industry impacts the economy.

Example of projects include understanding the impacts of the following:  

  • The addition of a new tourist attraction

  • The introduction of new programs to local economic development

  • The closure of a local plant on a community

  • How an industry impacts the local economy

Direct inquiries to:

[email protected]

EGI works with each organization to determine what type of analysis supports their goals and we offer robust analysis to support decision making. We utilize IMPLAN for our analyses. IMPLAN is an economic modeling software that uses Input-Output analysis, which is a type of applied economic analysis that tracks the interdependence among various producing and consuming industries of an economy. It provides results at a direct, indirect and induced level thus providing insight into the ripple effects throughout the economy.

Through this program, we are aligned with the RSQE in the Department of Economics, which is a modeling and forecasting unit that has been in operation at the University of Michigan since 1952. Four times a year, RSQE provides forecasts of both the U.S. national economy and the Michigan economy. which provides robust economic analysis at the national and state level. Depending on your project needs, we can direct you on which department can best address your data analysis needs.