Economic Impact Assessment

Economic Impact Assessment (EIA)  is generally described as an effective way of looking into the economic contribution or organisation or industry or even a specific investment is likely to have on the firm. In doing so EIA usually measures changes in business revenue, business profits, personal wages and/or jobs. The economic event analysed can include implementation of new policy or project or may simply be the presence of a business organisation. It is generally conducted when there is public concern about the potential impacts of a proposed project or policy. An economic impact analysis (estimates) the changes in economic activity between two scenarios using an array of economic tools. The main activities are:

Analysis of the current business scenario
Analysis of the economic activity
Analysis if the impact (on different levels) of the new economic activity is implemented