What are impact studies?
Economic impact studies provide estimates of the benefits that a project, company or industry brings to a community or a nation as a whole.
These studies can also be extended to examine socio-economic – including inclusive growth – impacts.
Examples of some of our reports in the news include:
- BBC News: Pharmaceutical sector worth £1.7bn to Scottish economy
- The Scotsman: GHA boosted Scots economy by £2bn over past 15 years
- The Times: Celtic FC contributes £165 million to the economy
- BBC News: Real estate sector worth £2.4bn to Scottish economy
- The Scotsman: Scotland urged to seize potential of growth in pharma
Using impact analysis, we can determine the contribution of your organisation, sector or project to the Scottish or UK economies.
Our modelling can capture not just the impact of your direct spending but the spill-over – or multiplier – impacts that you have both through your supply chain and the earnings of your employees.
Our results are tailored for each client, however we typically model the impact that a project, company or industry has on:
- The number of jobs supported
- The incomes secured for households and,
- The distinct contribution to value added (GVA), the key component of GDP – a widely used indicator of the economic health of a country
Inclusive growth impact analysis
In addition to our economic impact analysis, we offer evaluation of your social impact. This analysis varies client-to-client however this type of study can involve:
- An evaluation into your spending and investing activities and how the employment you support helps to tackle inequalities
- An assessment of environmental impacts
- Diversity impacts
- Bespoke analysis of inclusion programmes, including jobs and training programmes, educational programmes, and various charitable involvements.
Looking into the wider benefits that a society gains from these activities can help bridge the gap between a standard economic impact assessment and a more personal impact study into how communities are supported and benefit from the operation of a company’s activities, projects and investment plans.
How can this benefit your organisation?
Impact analysis can:
- Empirically demonstrate the economic and social benefits of your organisation to stakeholders to help maintain support, secure funding and inform debate
- Improve your knowledge and understanding of how your own organisation interacts with the economy and how you create value
- Quantify the effects of your strategic decisions on inclusive growth
- Aid your decision-making and assess investment strategies with straightforward, independent economic analysis
Why choose us?
As a leading research centre at a world-class technological university, the Fraser of Allander Institute is uniquely placed to bring cutting edge analysis for your organisation.
FAI staff have helped to develop many of the methods that now form part of the applied economist’s toolkit.
We also have have the highest standard of professionals conducting our analysis, with the option to draft in other leading researchers for projects.
Our reputation is second to none. We created the first ever Scottish Input-Output table (for 1973). In 2019, we hosted the International Input-Output conference in Glasgow, the world’s largest academic conference for impact analysis.
Beyond a report, what else is on offer?
We are happy to advise on how to interpret our analysis and communicate the key points to the media and stakeholders. However, we also offer a variety of services to promote these communications. These include attending events, press releases and professional report design.
Many of our clients choose to follow the impact assessment with an event to showcase the results. We can provide a senior staff member, such as the Institute’s Director, Prof. Graeme Roy, or Deputy Director, Mairi Spowage, to come to your event(s) and explain our findings.
The University has a dedicated press communications team who are well versed in creating press releases. We can include a press release along with the launch of the report and can coordinate this with the communications team within your organisation.
Professional report design
A critical component of effectively communicating the findings of any report is a clear and eye-catching design. Most of our clients choose to make use of our professional design team to transform the report. These services can include infographics and a summary double sided A4 sheet for the key takes from a report (typically provided along with the report at events).
What are the typical project stages?
A critical component of effectively communicating the findings of any report is a clear and eye-catching design. Most of our clients choose to make use of our professional design tea.
These services can include infographics and a summary double-sided A4 sheet for the key messages from a report.