Economic & Social Impact Analysis
Economic and Social Impact Analysis entails estimating how a community might change given an increase or decrease in a specific economic activity. Summit has examined the socio-economic impact of large scale mining projects, industries, real estate development, and business location decisions by examining how many direct and how many indirect/induced jobs are supported by the industry, and how the community is impacted by the project from a social services, law enforcement, housing, utilities, medical care, educational services and planning perspectives.
These types of studies also frequently examine jobs and earnings, tax revenue and public cost impacts, as well as impacts on specific sectors. The results are sometimes used to help the community make better decisions as to whether to support or oppose specific projects.
Summit also has experience in developing quarterly or monthly economic indicators to measure the ongoing impact specific industries and the economy as a whole. Tools include development of confidential surveys that enable clients to obtain early indicators of such things as retail sales and occupancy rates, as well as monitoring local, national and international economic indicators.