Many organizations — such as airports, ports, transit systems, airlines, railways, tourism organizations, convention centers, cultural industries, and governments — rely on economic impact assessments as an important element to:
- Enable decision-makers to better understand what projects, facilities, or industries mean to the economy.
- Measure the impact of economic activities and investments to support funding applications.
- Combine reliable data analysis with clear and intuitive descriptions.
- Facilitate an understanding for various stakeholder groups of the value of capital projects, operations, facilities, or industries.
- Create a public understanding of the economic benefit of specific activities or role of infrastructure.
InterVISTAS has considerable experience in the preparation, presentation, and use of these studies, which have successfully been used by clients in regulatory proceedings and reviews and before courts of law. Our approaches include both conventional “number” methodologies as well as innovative techniques that result in more intuitively understandable information reinforcing the credibility of traditional approaches.
Micro Economic Impacts
Micro economic impact studies document the economic impact of specific services or activities. The micro study identifies and quantifies the different trades and employment hours associated with a specific service. The micro study enhances the credibility of a study by providing intuitive accounting for the economic activity and provides a means to estimate the impact of specific strategic decisions or government policy.
Airport Catalytic Impacts
Beyond the employment directly and indirectly related to the operation of an airport, it may also facilitate employment and economic development in the regional economy through increased trade, attracting new businesses to the region and encouraging investment. Industries and activities that would otherwise not exist in the region can be attracted by improved air transport connectivity.
InterVISTAS can provide accurate and defendable estimates of these catalytic impacts. InterVISTAS has been at the forefront of research into the catalytic impacts of airports and is recognized as a leader in this field.
Assessing Non-Economic Impacts
InterVISTAS can incorporate non-economic effects in our analysis as well, such as the financial, social and environmental impacts. InterVISTAS has a team of environmental experts who conduct environmental impact assessments, greenhouse gas inventories, and advise on emissions reductions strategies.
These are the results of some InterVISTAS‘ Micro Economic Impact Studies:
- Every Time a transpacific 747 lands, it creates almost a full person year of direct employment.
- Servicing the arrival of a single containership generates roughly 3 and a half person years of direct employment.