Economic Contribution Analysis-A Brief Introduction
- Type
- Publication
- Date of Publication
- December 7, 2021
- Price
- See Agrilife Learn
Topics:
Overview
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
- Course
The primary goal of QuickBooks education is to help farmers and ranchers improve their financial recording-keeping and analysis capabilities, thus allowing them to make better management decisions.
- Course
Learn how to write a business plan for a farm or food business with real-world business plan examples included. This course will introduce you to business planning basics for farm and food enterprises in order to help you develop your business plan.
- Course
WHO IS THIS APPLICATION FOR: active-duty military, military veterans, their families, and the general public that are new/beginning farmers or ranchers.
- Course
This course is designed to explain the purpose of Special Inventory and give an overview of the process.
- Course
This course is designed to help supervisors and managers understand key components of personnel management. Topics examined include employer/employee communication, personnel policies, legal concerns, and best practices related to hiring, performance appraisals, disciplinary actions, and termination. (TDLR #28910)
- Course
The county tax office serves almost every resident of their county – every property owner, every auto owner, and many others. Providing effective customer service to all taxpayers promotes the public’s trust in the tax office as the first point of contact for the taxing entities they serve. (TDLR #28345)