We calculate economic impact by looking at a range of factors, including: jobs; wages; GVA; employment opportunities for local people; disposable household income; and public sector revenues e.g. business rates.
In addition to these impacts, a development’s impact will typically be much wider by generating further activity throughout the economy. This is characterised by supply chain activity that takes place as a result of the development, and spending by those who earn wages from the direct and indirect supply chain linkages that result from the development. We ensure these indirect and induced effects are captured in order to properly characterise a development’s beneficial impacts.
Throughout our approach we draw on best practice guidance, and work with clients to assess the best available information, ensuring an appropriate level of detail to meet our client’s specific needs.