An Economic Impact Assessment of the Green Industry of Virginia
Coppedge, Emily Jean
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An analysis of the green industry of Virginia was completed in the year 2002 using a mail survey sent to industry participants. The survey was conducted by the Virginia Agricultural Statistics Service (VASS). This data was used to run an economic impact analysis of the industry using IMPLAN Professional software. Additionally, the software was used to determine the approximate affects of drought and water restrictions on the green industry. VASS received a total of 1,146 surveys for a response rate of approximately 27%. Of these responses, 42 surveys indicated that they plan to have future green industry sales but were not presently involved in the business. Another 525 responses claimed to be no longer actively involved in the industry. Therefore, the actual response rate was much closer to 15%. This necessitated the use of numerous alternative data sources to create a more complete model representation of the green industry as a whole. Two separate model scenarios were created, the first using purely survey response data, the second including data from additional sources and factoring out for possible double-counting errors. Direct employment generated from the industry was predicted to be between 29 and 36 thousand jobs, depending on which model scenario is consulted. The total economic impacts predicted from the different models are $2.03 billion and $2.41 billion, respectively. The analysis of the affects of drought and water restrictions predicted a decrease in overall impacts by 33% and 23%, respectively.
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