Economic impact analysis measures the economic effects of business start-ups, expansions, layoffs, or business shut-downs. Labor Market Information (LMI) provides economic impact analysis to assist with job creation and reemployment. These studies are delivered as customized products and services based on customer requests. Data are provided to workforce and economic development professionals in order to assist them in recruiting and retaining businesses, mitigating the loss of large employers, and providing opportunities to job seekers.
IMPLAN or REMI economic modeling software is used to determine effects on employment, labor income, county gross domestic product (value added), and output.