Open AccessThe Impact of a Potential Public/Private Initiative on a Defined Region of the South Suburban Chicago Metropolitan Area
Author(s) -
Anthony Andrews
Publication year - 2019
Publication title -
international journal of business and applied social science
Language(s) - English
Resource type - Journals
ISSN - 2469-6501
DOI - 10.33642/ijbass.v5n2p2
Subject(s) - metropolitan area , economic impact analysis , census , property tax , revenue , tax revenue , population , goods and services , business , economics , private sector , economic growth , public economics , economy , finance , geography , demography , archaeology , sociology , microeconomics
The university is considered one of the engines of growth in a local economy or its market area, since its direct contributions consist of 1) employment of faculty and staff, 2) services to students, and supply chain links vendors, all of which define the University’s Market area. Indirect contributions consist of those agents associated with the university in terms of community and civic events. Each of these activities represent economic benefits to their host communities and can be classified as the economic impact a university has on its local economy and whose spatial market area includes each of the above agents. In addition are the critical links to the University, which can be considered part of its Demand and Supply chain. This paper contributes to the field of Public/Private Impact Analysis, which is used to substantiate the social and economic benefits of cooperating for economic resources. We use Census data on Output of Goods and Services, Labor Income on Salaries, Wages and Benefits, Indirect State and Local Taxes, Property Tax Revenue, Population, and Inter-Industry to measure economic impact (Implan, 2016).