What is an Economic and Fiscal Impact Study?
An economic and fiscal impact study analyzes how a project or activity affects jobs, income, and economic output, as well as government revenues (like taxes) and expenditures. It uses economic modeling to capture direct effects (initial spending), indirect effects (supply chain activity), and induced effects (household spending), showing both the overall economic contribution and whether the project is a net benefit for public budgets. This helps policymakers and investors make informed decisions about projects, policies, or investments.
Completed Economic and Fiscal Impact Studies
Jun. 2026: Economic and Fiscal Impacts of the European Union Center at the University of Illinois at Urbana-Champaign
“2022-2026 expenditures by the European Union Center led to the following economic and fiscal impacts on the state of Illinois: 26 new full-time jobs, $3.41 million in output, $1.87 million in labor income, and $610,000 in public fiscal revenues. These findings indicate that Title VI and Jean Monnet grants not only support education, research, and international engagement, but also generate measurable economic activity and tax revenues across Illinois, amplifying the return on public investment beyond their direct programmatic benefits”.
Jun. 2026: Economic and Fiscal Impacts of CLACS, the Center for Latin American and Caribbean Studies at the University of Illinois at Urbana-Champaign
“At the state level, the total impact of CLACS is 40 FTE jobs, $5.1 million in output, and $902,000 in public fiscal returns, with an output multiplier of 1.83. Therefore, Title VI grants are not simply expenditures that leave the federal budget. A portion of that investment recirculates back into public revenues at all levels of government through the economic activities it sets in motion”.
“Illinois partnership with the JJK Foundation in St. Clair County set to provide more than $32 million in labor income creation throughout the state of Illinois by 2026”.
Jan. 2023: The Prairie Research Institute
“The Prairie Research Institute (PRI) at the University of Illinois Urbana-Champaign has had a positive direct economic impact on Illinois’ economy valued at $667 million for years 2018–2022 and has provided more than 5,300 full-time jobs in the state, according to a recent analysis at a U. of I. research center”.
Aug. 2021: The Illinois Autonomous and Connected Track
“Over the next 30 years, the Illinois Autonomous and Connected Track is estimated to bring in $3.53 billion for the state’s economy, $483 million in total tax revenue between local, state and federal governments, and also deliver more than 23,000 full-time jobs (direct and indirect) to the area”.
May 2017: Blue Waters
“The study finds that the Blue Waters project—which is a joint investment between the State of Illinois, the University of Illinois, the National Science Foundation (NSF), and related activities funded by the university, NSF and other federal agencies—has a projected $1.08 billion direct economic impact on Illinois’ economy and will have created 5,772 full-time equivalent employment over the project’s lifespan (October 2007 – June 2019)”.