Economic Evaluation Dr. Steven S. Vickner Associate Professor and Director of Graduate Programs Department of Economics Utah State University

Economic and Fiscal Impact Analysis Input-Output Model of Regional Economy –Iron county –All relevant industries (agricultural, etc) modeled using a social accounting matrix approach –Measures: Employment Personal Income Value-added Sales

Circular Flow of Economy Producers -hay -cattle Product Markets -dairy -beef Consumers -rural and urban -demographics Input Markets -labor -capital Other Regions

Economic Data Sources USDA National Agricultural Statistics Service US Department of Commerce, Bureau of Economic Analysis US Department of Labor Utah Department of Agriculture and Food

Economic and Fiscal Impact Analysis Leontief Inverse and Multipliers (Nobel Prize in Economics, 1973) Economic Impacts –Direct effects –Ripple or spillover effects Indirect Induced Fiscal Impacts –Local –State –Federal

Asset Valuation Water rights Land and property values