The model calculates
revenue benefits to local, regional, and state governments.
Examples:
- Determine the tax revenues that will be collected over time from the addition of a new business and its employees.
- Assist in determining the appropriate level of local government incentives.
- Show the benefits of a public educational institution and use the results for fund raising and advocating to the legislature for more funds.
The Model provides
community leaders with the necessary information to determine if benefits related
to potential relocating or expanding business operations are worth the public and
private investment that is being sought. In other words, it gives you a basis
to determine if you are making a "good deal."
The Model can provide
information that is useful in demonstrating the regional impacts of an existing
or new business, beyond the border of the community in which the business exists.
This allows for a better understanding of how economic development efforts in one
community impact another, and encourages complementary economic development efforts.
Similarly, the Model
can also show the impact of an existing or new business on other industries.
This information can be used as a sales pitch to other industries who would otherwise
think they are not affected by the business in question.
Finally, the revenue benefits to local, county, and state governments can be quantified. This information
can be used for public relations purposes, demonstrates the value of your economic
development efforts, and may be used to influence government policy decisions.
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