WAYS TO SUCCESS: Economic Impact Report
What is EIA?
Economic Impact Analysis (EIA) is a methodology for evaluating the impacts of a project, program or policy on the economy of a designated region. It is an important analysis tool for decision-making, providing a measure of strategic goal achievement that complements the analysis of efficiency (benefit-cost) analysis and financial feasibility.
EIA shows impacts on business sales, jobs, value-added, income, tax revenue and competitiveness among industries, regions and over time.
To generate this report, you will need to have your Tier 1 expenditures uploaded to your portal. Once these are loaded, you can go to the Tier 1 dashboard and select the Economic Impact Tab. Select the appropriate filters and SELECT "Generate Report".
The RESULTS will show:
Jobs Supported (Overall)
Total Value Added
Jobs Supported by Diversity Category
The Top 10 Impact by NAICS code
Impact by Supplier Classification
What do you do with this information? This tells a story regarding your diversity expenditures, use this information to demonstrate results and set goals for the next year.