▪ Understanding Your Regional Economy
▪ Assessing the State of Regional Economy
▪ Economic Base AnalysisTechniques
▪ Evaluating Regional Economies
Introduction to Economic Models
New economic investments have multiple benefits
▪ The regional workforce, particularly those seeking employment
▪ The construction industry, which could gain additional contracts
▪ Regional businesses and firms, which might expect an increase in
demand for their goods
▪ The city and county governments may benefit from additional tax
Introduction to Economic Models
▪ Planners working for the local and regional governments consider
the implication of such possible investments
▪ Land use planners think about potential locations
▪ Transport planners examine the proposed locations to ensure that they
are strategically located
▪ Economic development (ED) planners predict how industry output,
employment, and income for residents and the government might be
affected by the increase in economic activities
▪ ED planners develop an impact analysis using multipliers to
estimate changes in the regional economy resulting from the
proposed investment plans
▪ Direct effect: New jobs
▪ Indirect effect: new income that will be spent within the region
▪ Multipliers are one way to estimate the total effects on employment
as a result of new economical investment
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