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<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd">
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<title>Economic Impact Analysis</title>
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Center for Economic & Business Development
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<div id="subheader"><img src="images/mtn3a.jpg" alt="CEBD Logo" name="header1" border="0" id="header1" /><a href="http://www.swosu.edu"><img src="images/mtn3b.jpg" alt="SWOSU Home" name="header2" border="0" id="header2" /></a></div>
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<a href="index.htm">Home</a> » Economic Impact Analysis
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<h1>Economic Impact Analysis</h1>
<p>Economic impact simulations predict the economic effects upon a regional or state economy of a new business location or a new project venture occurring in the state or regional economy.</p>
<p>Economic impact questions that could be modeled by performing an economic impact simulation may include: "What would be the economic impact upon northeast Oklahoma if ABC Corporation spent $25 million to expand its operations in Stillwater?" Another example may include "What would the economic impact be upon southeast Oklahoma if a new hospital was constructed in McAlester?"</p>
<p>Our most recent economic impact study, <a href="docs/OK-Mfg-E.I.-2011.pdf">The Economic Impact of the Oklahoma Manufacturing Sector</a> (Summer 2011), highlights the employment, income, output, tax and population impacts that the manufacturing sector has upon the state of Oklahoma.</p>
<p>The <a href="docs/econ-impact-swosu-OK.pdf">Economic Impact of SWOSU</a> on the state of Oklahoma highlights SWOSU’s contribution to the state’s economy and the <a href="docs/econ-impact-swosu-region.pdf">Economic Impact of SWOSU on Southwest Oklahoma</a> summarizes how the university contributes to the regional economy. </p>
<h2>Counterfactual Analysis</h2>
<p>In policy modeling, the term "counterfactual" is defined as "contrary to the present situation". More specifically, counterfactual simulations model the effect upon a regional or state economy by removing an organization or business from the economy.</p>
<p>Counterfactual questions that could be modeled include: "What would be the effect upon Oklahoma if Tinker AFB were closed in a new round of base closures?" Or, the question might be: "What would be the effect upon southwest Oklahoma if XYZ corporation closed and had to lay off 250 employees?"</p>
<h2>Policy Modeling</h2>
<p>Policy modeling predicts the economic impact of a significant policy change upon a regional or state economy. Examples of policy changes that could be modeled include tax rate changes, minimum wage rate changes, environmental standards changes, defense spending changes, etc.</p>
<p>Policy questions that can be modeled by performing a policy simulation may include: "What would be the economic impact upon the OKC metropolitan area if voters approved a 0.25¢ sales tax hike to pay for terminal construction at Will Rogers Airport?" </p>
<h2>Tourism Impact Modeling</h2>
<p>Tourism impact simulations model the effects that tourism has upon a regional or state economy. These simulations are modeled as the increase in tourism to an area due to new/expanded tourist attractions.</p>
<p>Tourism impact questions that could be answered by running this type of simulation may include: "What would be the economic impact upon the Tulsa metropolitan area if the city revitalized its downtown area to include a remodeled convention center and a new arena for minor league hockey and basketball?" Another sample question that could be answered may be: "What would the economic impact be upon northwest Oklahoma if the state built a lodge at Great Salt Plains State Park?"</p>
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