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R/ECON™ I-O: A New Economic Impact Model
The R/ECON™ Input-Output Model (I-O) shows how sectors of an economy interact.
For a given industry, the model shows the "production recipe" for the goods and
services the industry sells and the shares of its revenues that are consumed by
other industries in the economy.
The R/ECON™ I-O model's estimates of interregional trade by sector
are based on those conceived by the Regional Science Research Institute and are
recognized by the academic community as the most reliable estimates available.
R/ECON™ can customize models for any state, metropolitan area,
county, or set of counties for which detailed data on employment and payroll are
publicly available or provided by the client.
The R/ECON™ I-O model can be used to
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estimate the number of jobs and the amount of income that will be created in an economy by an event or shock
determine an event's, an industry's, or a program's total contribution to an economy
calculate the fiscal viability of a proposed economic development incentive
estimate the economic impact of the relocation of a firm
help identify successful state and local economic development strategies
determine the relative economic viability of large projects
show how changes in one sector of the economy influence other sectors
identify the impact of a project on various government spending programs, and vice versa
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