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 tax revenue and public cost impacts. The results are used to help the community to make better decisions as to whether to support or oppose specific projects.
The partners have extensive experience in analyzing the impact of the tourist industry on local economies. Whether it is examining the gains from community expenditures on a travel marketing board or the gains from a privately owned tourist venue on jobs and tax revenues, impact analysis aids voters, investors and local governments in making profitable decisions.
Summit also has experience in developing quarterly or monthly economic indicators to measure the ongoing impact of the tourist industry. Confidential surveys enable clients to obtain early indicators of such things as retail sales and occupancy rates.