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In 2016, the Minnesota Vikings generated 530,000 in total annual attendance. With their new stadium, they...

In 2016, the Minnesota Vikings generated 530,000 in total annual attendance. With their new stadium, they project annual attendance of 630,000. How much attendance should they report within their economic impact analysis?

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Answer #1

By defnition, an economic impact analysis (EIA) examines the effect of an event on the economy in a specified area, ranging from a single neighborhood to the entire globe. It usually measures changes in business revenue, business profits, personal wages, and/or jobs. The economic event analyzed can include implementation of a new policy or project, or may simply be the presence of a business or organization.

An economic impact analysis typically measures or estimates the change in economic activity between two scenarios, one assuming the economic event occurs, and one assuming it does not occur.

Hence, here, we use the difference of twon numbers for impact analysis, i.e. 630,000 - 530,000 = 100,000.

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