All projects, regardless of size, impact on both the local and national economy. Understanding these impacts can be critical to the success of a project. It is important to understand both how economic condition impacts likely project success and how the project itself impacts the economy.

This understanding is critical for a number of reasons:

• Risk: Risk registers need to consider how changing economic conditions could impact on Critical Success Factors and Key Performance Indicators.
• Demand: Socio-economic conditions need to be considered to understand likely demand for projects such as housing, health or education.
• Advocacy: Setting out the benefits to the local economy can have a powerful impact on how people view projects especially during events such as planning permission hearings.

We have undertaken a wide range of local impact assessments for both public and private sector clients and can provide evidence-based reports for both internal and external use.

Services offered in this area are:

• Economic Impact Assessments: These assessments calculate the impact on jobs and wages of a particular project or investment. This can be for both new and existing projects. We can provide an assessment of how many jobs are created in the local economy through purchases from the supply chain and in local businesses by project staff members.
• Socio-Economic Assessments: Understanding local economic conditions is vital to the success of every project. Government provides a wide range of relevant statistics, however collating and understanding these figures can be complex and time consuming. We are very familiar with this data environment and can produce both reports and dashboards which allow for easy understanding of key economic factors.
• Bespoke Assessments: Sometimes more complex questions need to be answered. These questions do not always have a simple or obvious approach to finding an answer and more detailed analysis can be required to provide robust answers. This analysis can be based around literature reviews, statistical analysis, economic forecasting, and other similar approaches. We can draw on our experience in academia, government and the private sector to come up with approaches which can answer these questions.