Based upon your reading and research, write a paper that explains the implementation of the principles of economic impact analyses in sports. To accomplish this, select a specific community and sporting event, sports facility, or other sporting venture to analyze.
You may choose to analyze the impact of constructing a new football stadium, moving an athletic department from Division II to Division I, or bringing a new minor league baseball team to town. There are many options and the choice is yours.
Remember, an economic impact analysis (EIA) examines the effect of a policy, program, project, activity, or event on the economy of a given area. Economic impact studies are generally prepared when a community considers building a stadium for a professional franchise with taxpayers’ dollars. The area can range from a neighborhood to the entire globe. Economic impact is usually measured in terms of changes in economic growth (output or value added) and associated changes in jobs (employment) and income (wages).
Additionally, the analysis measures or estimates the level of economic activity occurring at a given time with the project or policy occurring, and calculating the difference from what would otherwise be expected if the project or policy did not occur (which is referred to as the counterfactual case). This analysis can be conducted either before or after the fact (ex ante or ex post). The term economic impact can be applied to analysis of the economic contribution of a given activity or industry to the existing local economy.
Length: 5-7 pages, not including title and reference pages
References: Minimum of three to five scholarly resources