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Economic Analysis
economic terms and analyses
| Question | Answer |
|---|---|
| Cost-Benefit Analysis | Used to compare alternative development solutions. It examines the future benefits and costs of each project in terms of their present-day values. |
| Input-Output Analysis | Compares industries within a particular region. It determines which goods and services are used locally and which are exported to different regions. |
| Market-Share Analysis | Monitors the goods produced by local businesses, and determines the total share that those goods make up in the larger regional market. The analysis then determines if the local share is remaining constant, increasing or decreasing. |
| Retail Market Analysis | Forecasts the volume of retail building space and land zoned for retail that a community will need in the future. It also predicts the demand level for different types of retail. |
| Shift-Share Analysis | Compares the growth rates of different industrial sectors, and determines whether or not they are conforming to national economic trends. |
| Fiscal Impact Analysis | Examines a proposed development project or land use decision to determine if its forecasted revenue will be sufficient to cover the increased costs to local gov. If analysis reveals a deficit, local gov should reevaluate the land use or funding sources |
| 3 Types of Fiscal Impact Analyses | |
| Project Analysis | the most common type. Planners determine the fiscal impact of each development project, and combine those results to determine the overall economic impact of all the land uses. |
| Land Use Analysis | Identifies a set of residential and nonresidential "prototype" land uses (e.g. persons per household, commuting trip, population density, etc). Planners then assess the economic impact of each prototype on the budget of the local government. |
| Areawide Analysis | Determines the economic impact of all land uses on a certain area (such as neighborhood, city, county, or region) over a 10 to 20 year period. |
| Location Quotient | Used in economic base analyses to identify which industries are "basic" (bring money into the community from outside) and which are "non-basic" (circulate money w/in community). > 1 = basic industry. <1 = non-basic industry. |
| "Linkage" programs | Seek to balance job creation and housing demand for a even jobs/housing ratio. If create too many jobs, then have to export housing to other communities. |
| Multiplier Effect | Multiplier effect attempts to show the complete economic implications of spending a certain amount of money within a community. In most cases the implications extend far beyond the initial expenditure. |
| Multiplier Effect (example) | Assume that a person spends $100 in a store, then the store owner uses that money to pay his employees, then the employees go out into the community and spend that money they are paid which is recirculated back into the economy. |
| Business Cluster | A group of businesses that are in close geographic proximity and that are related in some way - sharing the same suppliers, manufacturing the same good, or consuming the same good. |
| Agglomeration Economies | Created when a group of businesses located in close proximity. In doing so, they can receive certain economic benefits, such as reduced costs of communication and transportation and greater opportunities for innovation. |
| Civic Entrepreneurialism | Holds that both local government and community organizations are integral in creating and perpetuating economic growth. |
| Structural Unemployment | Occurs in areas where the supply of labor is compatible with the current demand for labor. Put simply, the available jobs require a skill set that is lacking in the general population. Structural unemployment is often the result of technological advances |
| Neighborhood Shopping Center | Range between 30,000 sf and 100,000 sf. The stores w/in these shopping centers usually sell goods and services that fulfill the specific needs of the local community (foods, laundry, services, etc) |
| Community Shopping Center | Range between 100,000 sf and 450,000 sf with an average of 150,000 sf. They normally contain discount stores and mid-size department stores. |
| Regional Shopping Centers | Range between 300,000 to 1,000,000 sf. They normally contain a myriad of different sales merchandise, such as general, apparel, furniture, and home furniture. |
| Types of Bonds | |
| General Obligation Bonds | municipal bond secure by state and local governments - use legally available local resources (including tax revenues) to pay back bond. Usually at local level. Credit ratings are usually very strong. |
| Revenue Bonds | Municipal/local bond. Pay bond back through a very specific revenue-generating entity, and NOT through taxes. Bc they aren't allowed to use taxes, and only revenues to pay back bonds, not quite as secure and may have slightly higher interest rate. |
| Community Development Block Grant | Vulnerable communities. "entitlement" and "non-entitlement" communities. Grants provided on a formula basis based on pop, overcrowding, poverty, etc. |
Created by:
jlongabaugh
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