Greetings, We are analyzing the economic impact of the current senior population in our county. It’s been a while since last time I used IMPLAN, so I just wanted to make sure that our approach is correct. If I recall correctly, we can tackle this two ways: 1) Model it as a Household Spending Pattern Type, and enter our estimates of Senior Households spending. Under this approach we would take the household income and remove: • Payroll taxes • Income taxes • Savings With this approach we would get the Direct, Indirect, Induced impacts of seniors. 2) Model it as a Household Income Change Activity Type. Under this approach we would take the household income and remove: • Payroll taxes In this case the model would estimate induced impacts only (direct, indirect and induced are rolled into a single category) Both approaches would yield the same result, is that correct? Thank you.
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