Economic Impacts

An economic impact analysis model provides a baseline for the regional and state economies. This baseline data can then be used to examine activities of companies or industries.  The analysis is developed from a counterfactual approach that uses an input-output model to create hypothetical state economies absent the activities of the selected company or industry.

This type of analysis can be used to evaluate the impacts of a new plant relocating to a community, to assess the effects on a community or region of a major employer ceasing operations, to evaluate competing projects seeking subsidies or incentives, or to evaluate the performance of an economic development program or industry sector.

Using input/output models of the Connecticut economy and other analytic tools, CERC can work with your organization to fully understand the economic impact of a project on your community or region.

CERC staff have extensive experience with economic impact analyses, including the following projects:

• New construction and expansion activity of the casinos in Southeastern Connecticut
• Activity for the state's Insurance Cluster 
• Development of new cancer center at Yale University
• New facility for Mass Mutual 
• Closing of the Groton sub base
  
• Relocation of Swiss Bank
  
• Proposed relocation of Morgan Stanley
  
• Shutdown of the Stratford army engine plant
• Proposed development of Long Wharf mall