Economic Impact Analysis
Younger Associates has conducted hundreds of economic impact studies across the United States over the past 19 years. The firm’s methodology is utilized in courses at the Economic Development Institute and recognized by the International Economic Development Council. Over the years Younger Associates methodology for performing economic impact analyses has proven to be highly accurate although slightly conservative by design in projecting tax revenue generation.
Younger Associates staff consults regularly with the U. S. Bureau of Economic Analysis on economic impact analysis and the input-output multiplier system. The firm has been involved in the introduction of new multipliers and has participated in workshops and seminars at BEA headquarters in Washington D.C.
The firm has developed economic impact analysis models for several city and county governments and industrial development boards. Younger Associates provides ongoing services to determine the benefit to cost ratio of incentives used to recruit businesses.
Major economic impact studies completed by Younger Associates, which are approved for disclosure to the public, include:
- Impact for Greater Memphis Medical Device Council on the medical device industry in Shelby County
- Impact of Toyota locating an automotive manufacturing facility in the Southeastern United States.
- United State Enrichment Corporation’s economic impact of each operating unit in the United States on their local economies where the units are located.
- Projected impact of a new Caterpillar manufacturing plant relocating from Japan to the US – this project garnered significant national media attention in February 2012
- Projected economic impact of the expansion of FedEx Ground Services
- Economic impact of all ALCOA operations located in Tennessee.
- Economic impact of Lamb-Weston’s operations, at 10 current facilities plus planned expansions, on the State of Washington.
- Annual economic impact of a Goodyear, Inc. tire manufacturing facility.
- Economic impact of the relocation of International Paper’s corporate headquarters.
- Regional impact of the International Port of Memphis and the national economic impact analysis for a $320 million intermodal terminal linking barge transport to five Class I rail systems and trucks.
- Economic impact of St. Jude Children’s Research Hospital operations, research, and $2 billion in capital investments for expansion.
- Analysis of operational and student spending impacts for Union University, Campbellsville University, Kentucky State University, Freed Hardeman University and LeMoyne-Owen College.
- Projected economic impact of Kentucky’s Heartland Parkway development
- Impact of the Memphis Chamber of Commerce recruitment program “America’s Distribution Center”. This analysis examined the cumulative impact of a ten-year economic development program.
- Projected economic impact of Star Landing Corridor development in Mississippi.
- Economic impact of Memphis Light Gas & Water’s annual operations and the annual average impact of capital investments.
- Mississippi River Recreation Corridor – economic impact of development, projection of number of visitors, and impact of projected visitor spending.
- Economic impact of Paramount Film Company filming of a movie project on location.
- Economic Impact of the NBA’s Memphis Grizzlies, this project received prolonged national attention and was widely cited nationwide while the NBA season was delayed during owner/player negotiations in early 2012.
- Impact of Dakota Premium Foods operations on the state of Minnesota
- Economic impact study and cost/benefit analysis of a $2 billion uranium refinement project at Oak Ridge National Labs
- Comparison of economic impact in the states of Georgia, South Carolina and Vermont, proposed sites for the Earth Artist Studios Campus – potentially the world’s largest film production facilities.
- Impact of Amazon’s operations on state tax revenues for Tennessee and Texas
- Impact of target industry recruitment for Bradenton Manatee County Florida