Economic Contribution Analysis-A Brief Introduction

Type
Publication
Date of Publication
December 7, 2021
Price
See Agrilife Learn

Overview

This 1-page publication explains how the direct value of industry sales or employment is an important measure of an industry’s strength.

The direct value of industry sales or employment is an important measure of an industry's strength. However, an industry's sales or employment figures alone fail to capture the full economic contribution of an industry or an event. When a business makes a sale to a final consumer, a portion of production expenses are paid to the business's local suppliers and wages are paid to employees. Business owners and employees also spend part of their profits and wages on the local economy. As money circulates through the local economy, it multiplies the original direct expenditure to a larger total economic output. Economic impact analysis (or economic contribution analysis) is based on the idea that a dollar spent in a region stimulates additional economic activity, or multiplies as it circulates through the economy. (1 page)

Looking for solutions in your county? Contact your local extension experts

More choices in Business & Community

  • Publication

    It is important to know how to operate backup power generators safely. The tips in this publication can prevent problems with CO poisoning, electrocution, fire and other hazards. (2 pages)

  • Publication

    Agriculture is among the most dangerous industries. Being alert and understanding the physical challenges that come with aging is the key to successful, safe farming by senior farmers and ranchers. The changes they make in work tasks and activities help ensure that they, their co-workers, and their family are safe. (4 pages)

  • Publication

    This 3-page publication describes how thieves operate and how farmers and agricultural dealers can protect themselves from thieves.

  • Publication

    This 3-page publication lists the causes of injuries and fatalities, discusses Texas ATV laws, and provides specific safety tips for using these vehicles.

  • Publication

    This 4-page publication lists specific safety precautions you can take to prevent electrocution and handle emergencies should they occur.

  • Publication

    This 3-page publication describes the legal requirements for operating a tractor on public roads, safe driving and towing practices, and other precautions to keep you and your family safe.