The Hunter Region input-output (IO) model is used to determine the economic impact of major expansions and contractions in the regional economy.
The HRF used survey-based methodologies for IO model development from the early 1970s, with the model was ‘updated' every five to ten years, using data sourced from surveys conducted amongst randomly selected Hunter Region companies.
The Hunter Region IO model:
- shows how outputs from each sector of the economy are distributed to other sectors
- shows how inputs from each sector are distributed; and
- measures the effects of a change in the regional economy by changes in production, employment and income generated in each sector.
The model is used to:
- calculate tax revenue generated from changes in operations or a new operation
- calculate potential profits resulting from changes in operations or a new operation
- documents impacts on the regional economy to help in gaining approval, financial assistance and publicising the benefits of a project.
What to know more? Contact Dr Anthea Bill