Helping companies and industries quantify their economic impactDemonstrating an organisations’ economic impact–at a local, regional, national, and global level–provides a vital foundation for clients' engagement with government, their customers, media, and other stakeholders. We work with clients to address issues such as:
- How many jobs does your company or industry support across the economy as a whole?
- How much does your organisation add to GDP and government tax revenues?
- How will changes to government policy or regulations affect the economic impact of your company or industry?
- What is the impact of your organisation’s R&D activities?
Our impact studies typically measure five major channels through which companies and industries contribute to the economy:
- Direct impacts–the jobs, GDP and fiscal contributions generated by the company or industry itself.
- Indirect impacts–jobs and GDP supported by the sector or company via purchases from its supply chain.
- Induced impacts–jobs and GDP supported by the spending patterns of those employed directly or indirectly by the sector or company.
- Catalytic impacts–improvements in productivity and performance by other companies and industries in other sectors of the economy over the longer term. This can be such knock-on effects as investments in R&D or the development of vital infrastructure on which other businesses depend. Oxford Economics is at the frontier of global research into these "catalytic" or "spillover" effects in a number of sectors.
- Social impacts–the economic impact of Corporate Social Responsibility (CSR) programmes, including education, training, and cultural initiatives.
Along with quantifying the current economic impact of a company, our models allow us to forecast future economic impacts as well. And we can assess how changes to government policies and regulations would affect those impacts–illustrating the costs and benefits of government decisions.