Our experience is that assessing the economic impact of new or proposed projects is taking on even greater importance as both public and private sources of capital become increasing difficult to obtain.
Even the promise of alternative and green energy projects are being put to the test. Doyletech has assessed several existing and proposed biofuels plants across Canada in recent months; such projects need a comprehensive economic impact assessment if they are to receive public funding assistance. Our work has also assessed the potential economic impact of new bio-processing facilities in communities such as Sarnia, Ontario which has helped local officials to gain significant traction in their development activities.
Recent Doyletech Economic Impacts – In the News:
- Total Economic Impact of Biofuels Facilities – the first-ever comprehensive assessment on all operating Canadian biofuels facilities.
- Communications Research Centre Canada Licensing and Fee-for-Service Economic Impacts – an update on the economic impact of CRC’s technology transfer activities.
- Economic Impact of the IGPC Ethanol Plant in Alymer, Ontario – an economic impact assessment on an operating ethanol plant in Canada.
- An Assessment of Employment Opportunities from Increased Biofuels Development in APEC Economies – development of a model to assess employment impacts from domestic biofuels production in APEC economies.
We have conducted recent reviews of government funding programs in the areas of alternative energy, technology commercialization, and generally, any program which can help new companies get off the ground. The results of the review are not encouraging; many such programs are out of (new) funds currently. Having your project assessed in economic impact terms, is critical in today’s environment.
Could not agree more. There is also the issue of economic “impacts” versus “economic “outcomes”. These are different metrics and each require their own assessment techniques.
Doyletech’s DT EconWin model employs the concept of “opportunity costs” where possible. This provides a far more meaningful picture of ‘net’ economic impacts, by taking into consideration the likely alternative use of the funds expended.