This paper examines issues in conducting economic impact analyses in regions undergoing substantial or rapid transformations. Economic impact analyses, like many other analytical techniques, employ methods predicated on relative economic stability, yet commonly are conducted in situations that violate this condition with little consideration of the suitability of the method or the other implications. Inspiration and illustrative examples are drawn from military communities in the United States impacted by the 2005 round of base realignments. Special attention is paid to regional input-output modeling because of its prevalence in economic impact studies and susceptibility to distortions. Advice and suggestions for analysts and educators are discussed.

Publication link: https://journals.sagepub.com/doi/abs/10.1177/0739456x15586626?journalCode=jpea