Economic impact assessments are not as common as the environmental review discussed above.
But cities, towns and counties are beginning to figure out that they are a necessary part of project oversight, especially when that project is a Wal-Mart. Wal-Marts have a huge economic impact on the community way beyond what was ever contemplated by any zoning law, ordinance or regulation. Indeed, Wal-Mart's effect on smaller, locally-owned retailers and how they can destroy a downtown shopping area is well documented. In addition, these huge projects can “cost” communities significant amounts in terms of municipal services (police, fire) that need to be provided, overburden local sewer and water systems, and bring serious impacts to traffic and upkeep of area roads.
Cities and towns are fighting back, however, and many have utilized an economic impact assessment process to help them do so. Some states even make economic impact assessment part of a state-level review process (usually part of the state-level environmental review process discussed above) because the impacts of large projects (especially Wal-Marts) can be so devastating to a local or regional economy.
Strategies, Examples
Like an environmental review process, an economic impact assessment process usually provides for public comment and may even include a public hearing component. Some towns have separate economic development boards or commissions charged with determining economic impacts and they are required to solicit input from the community. In other cases, a state or county level agency oversees the review but usually affords citizens the chance to participate. Like environmental reviews, it may be helpful to retain an expert – an economist or other professional -- to assist you in the review process. The following are examples of economic impact assessment provisions themselves or media reports about the implementation of such provisions:
Visit the Hometown Advantage website for more on economic and community impact reviews by clicking here.
