Certified Woman & Minority Owned

Economic Impact Analysis


Local Community Impact Visualization

Grasp the tangible benefits your diversity spend brings to local communities. Our Economic Impact Analysis reports translate these contributions into clear visual insights, demonstrating the direct positive effects of your inclusive procurement efforts. Experience firsthand the transformative power of your diversity initiatives!


Client-Focused Data Points

What is Economic Impact Analysis?

Economic Impact Analysis (EIA) is a method used to evaluate the potential effects of a particular event, project, or policy on the economy of a specific area, typically measured through changes in job creation, wealth, and the overall standard of living. EIA considers direct, indirect, and induced effects, providing a holistic view of economic repercussions.

Why Your Company Needs Economic Impact Analysis:
  • Decision-Making: Offers data-driven insights for strategic choices.
  • Stakeholder Relations: Highlights economic benefits, aiding in negotiations and PR.
  • Resource Optimization: Ensures efficient resource allocation for maximum returns.
  • Compliance: Meets regulatory requirements in certain sectors.
  • Risk Awareness: Foresees potential economic downsides, aiding in proactive measures.
  • Community Engagement: Strengthens local ties by showing economic considerations.
Overview

Simplifying Diversity Impact Understanding

Delve into the profound effects of your diversity initiatives with our specialized Economic Impact Analysis and Reporting tool. Utilizing the revered Input-Output Model—a blend of both macro and micro analytical techniques—our system processes intricate microeconomic data, from industry behaviors to governmental actions, to evaluate broader macroeconomic outcomes like GDP, employment, and income.

With the capability to dissect impact by variables such as State, Region, Business Unit, or Commodity, our methodology—endorsed by economists and adopted by the Department of Labor—provides unparalleled depth. Our clients particularly appreciate the clarity it brings, revealing the tangible benefits of their diversity investments right at the grassroots level.

Diversity Impact Overview
Metrics

Some of metrics to understand your Impact

Supply Chain Impact
Supply Chain Impact
Employment Impact
Employment Impact
Local Region Impact
Local Region Impact
State Impact
State Impact
Business Unit Impact
Business Unit Impact
Commodity Impact
Commodity Impact

Visualize your diversity spend impact down to the local level

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Supply Chain Influence

Visualize Your Impact Across the Entire Supply Chain

Dedicated to enhancing the value across your supply chain, business partners, and industry, we employ a robust input-output modeling approach. Experience the transformative benefits of a demonstrably diverse business network.

Supply Chain Impact
Employment Impact
Employment Influence

Visualize Job Creation from Your Diversity Investments

Leverage our advanced analytical tools to discern both the overarching and intricate views of job creation. Break down the employment impact by categories such as State, Business Unit, and Commodity, among others. Witness the tangible employment growth powered by your diversity spending.

Community Contribution

Visualize Your Local Impact Through Diversity Spend

A key objective of diverse expenditure is to foster positive growth in the local communities where you and your suppliers function. Our tailored reports provide clear insights, showcasing the precise influence your investments have on these regions.

Local Region Impact

Frequently Asked Questions

Navigating your economic impact analysis is our priority. Reach out for any queries related to your economic impact reporting requirements.

Why is an economic impact report beneficial?

An economic impact report offers tangible insights into your contributions. Without accurate data, gauging your real influence is challenging. Let us handle the intricate analysis, allowing you to visualize your genuine impact.

How do you compute the economic impact?

We rely on a trusted, industry-recognized methodology crafted by economists. This approach, endorsed and utilized by the Department of Labor, offers precise insights into your impact.

Can I obtain reports across different categories?

Absolutely! Our comprehensive reports cover all categories. However, if you have specific requirements, we can tailor the report to focus on select categories, all without extra charges.

How frequently should I opt for this report?

The frequency varies per client. While many prefer annual reports, some choose quarterly insights. We're flexible and will align our offerings with your preferences.

Related Modules

Supplier Registration
Supplier Registration

All diverse and non-diverse and US or Non-US suppliers to self-register in your portal so you can easily find and engage with them. Our tool will ensure the validity of their diversity certificates as well.

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Tier 2 Spend Report
Tier 2 Spend Reporting

Streamlining the Tier 2 Direct and/or Indirect Spend reporting and review process for both Prime Suppliers and your internal team. Get access to standard reports or build your own.

Read More

Supplier Sourcing and Locator
Supplier Sourcing and Locator

Source suppliers already registered in your portal or find new suppliers using our External Supplier DB to easily vet and engage them with your events or opportunities.

Read More

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