This preliminary 2016 report summarizes the annualized results of the economic benefits of the economic activities associated with the Idaho Coalition of Land Trusts. It was sponsored by the Idaho Coalition of Land Trusts and preliminary results completed in March 2016. This analysis is a progress report (a work in progress) as the inventorying and assessment of these economic activities is ongoing. The results will be finalized later this spring with the publication of the full report and updated again in 2017. The author was Steven Peterson, Research Economist and Clinical Assistant Professor, Economics, College of Business and Economics, University of Idaho.
Methodology of Study
Several IMPLAN input-output models were created to fit the needs of the analysis. 1) Regional multi-county models for each land trust, 2) A Idaho State Model, and 4) Individual county models. IMPLAN (Impact Analysis for Planning) is the most widely used and cited economic impact software and data: (IMPLAN Group LLC).
The following economic model outputs were reported:
Ø Sales transactions– reflects the total transactions from all sources in dollars by direct, indirect, and induced economic activity (i.e. including the multiplier effects).
o Gross Regional Product – the overall net contribution to the economy (a subset of sales transactions) from the airport and air-related serves. Gross regional product includes employee compensation, proprietor income, other property income, and indirect taxes.
§ Total Compensations (payroll) – (a subset of gross regional product) includes wage, salary, proprietor income payments, and fringe benefits (i.e. supplements) to workers (including the multiplier effects).
Ø Total Employment – represents the total employment resulting from economic activity (including the multiplier effects).
Ø Local and State Taxes – includes local property taxes, sales taxes and excise taxes, and all other state taxes (including the multiplier effects)
Summary results including the multiplier effects:
Idaho Land Trusts create
o $76 million in sales transactions
o $41 million in gross regional product
o $23 million in total compensation
Total state and local tax contributions $3,811,193
o Property tax contributions $1,208,263
State tax contributions $2,602,930