Financial Analysis
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Long Term Economic ImpactsFeedback
Economic security is described in Characteristics of Sustainable Brownfields Projects (EPA, 1998) as: “a level of economic activity that provides both employment and spending opportunities within the community and increases the amount of money that is retained within the community; by providing a variety of businesses that are environmentally sound [and] financially viable, and providing training, education, and other forms of assistance to adjust to future needs.”
Some information to be ascertained and evaluated for a sustainable economic revitalization effort may include:
- Introduction of income or tax revenue
- Stable businesses
- Level of business activity
- Technological development and implementation
- New business development
- Revenue for community infrastructure
- Local workforce training and development
- Home ownership
- Open space and historic and cultural preservation
- Maintenance or improvement of quality of life
Sustainable economic revitalization strives to achieve a level of economic viability that enables local ownership to effectively use financial resources to meet local needs. Returns on sustainable economic revitalization should be used to maintain income and growth in a community, as well as to further evaluate ecological and sociocultural impacts of the revitalization.