Hello, as the title suggests, I was interested in the difference between the Industry Contribution Analysis event option and a change in Industry Output event.
I noticed on the webinar regarding COVID-19 impact that the instructor utilized the Contribution Analysis change event.
Hi there!
Impact is the term used to denote a change in the economic conditions of the regional economy. This could be a change that increases or decreases current production, employment, taxes, etc. The standard, traditional impact method is used when conducting an impact analysis.
Industry Contribution Analysis denotes that the study is looking at how the current state of an Industry supports other businesses in the local economy. When this involves a single firm, the analyst will need to determine if the Impact Method or Industry Contribution Analysis Method should be used. The results in either case should be described with words such as "contributes to" or "sustains."
Industry Contribution Analysis
Let us know if you have further questions!
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