Collin Baldwin

Collin Baldwin - totals, which was 2,770,511. This change...

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Collin Baldwin October 18, 2011 Econ 318 Executive Summary Once calculating the economic impact of the Hilton Head Soccer Invitation, determining the numbers and statistics of all the calculations made up for a significant amount of the data. The first item calculated was the total output, which I looked at the total direct spending from the table and calculated the expenses to be approximately $912,989. Then I calculated the total output using the output multipliers, which was approximately $1,585,129. Next I calculated the ratio, which was 1:1. 74 meaning every dollar increased production by 74 cents to the output. The next step was to calculate the total earnings, by using the earnings multiplier and each section of the direct spending
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Unformatted text preview: totals, which was 2,770,511. This change shows that in Hilton Head there are new people coming in spending more money in the community. The last item I calculated was the total employment, by multiplying the employment multiplier by all the million dollar impacts. The total employment was approximately 27.94, which shows the amount of full time jobs that could be established in Hilton head due to the direct spending money, which is the $912,989. When trying to calculate the economic impact you must take into account the total output, total earnings and total employment....
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