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Tinley Taxpayers Unite > Village of Tinley Park > Village Planning
"Economic Impact" is Unverifiable
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"Economic Impact" is Unverifiable
08/02/2016 6:00 pm

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Regist.: 07/25/2016
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There is no way to truly calculate "economic impact" studies that developers and planners like to tout when "selling" an idea or concept. Many reports have been passed around town regarding other community funded developments and the multi-year "economic impact" it has on the community. "Economic impact" is not direct revenue to one venue, it's a compilation of revenue projections within a general area. "Economic impact" estimates are difficult to track and nearly impossible to verify.

Articles on [unverifiable] economic impact:Speaking of "economic impact", what is the "economic impact" of the Tinley Park music venue (Hollywood Casino Amphitheater)? Furthermore, what would the traffic impact be with the music venue and the addition of another large venue at 183rd and Harlem? The music venue ties up traffic for hours on weekends and during events.

Lastly, while reviewing revenue projections, economic impact studies and articles on other developments, it's important to understand the difference between revenue and income. It takes a LOT more than an economic impact or revenue projection article to truly understand the economics of various businesses and organizations.
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