a. Final Report The firm qualified to complete the Economic Analysis will be required to complete a rigorous, professional analysis, and to issue a Final Report quantifying and including, but not limited to the following: 1. Primary economic benefits measuring the initial revenues, employment and earnings associated with the presence of the Monterey Regional Airport. 2. Secondary economic benefits, involving multiplier effects, created when the initial spending by airport aviation and non-aviation users and visitors circulates and recycles through the economy. - The secondary economic benefits measure the magnitude of successive rounds of re-spending (or “ripple effects”) in the broader regional economy. 3. Secondary Economic Benefits Component - Indirect Benefits - The measure of the value of intermediate goods purchased by airport businesses to produce their output. 4. Secondary Economic Benefits Component - Induced Benefits - The measure of the consumer spending of workers who produced both the initial or primary benefits and the indirect benefits. 5. The Primary and Secondary Economic Benefits should be quantified and stratified as to: - Aviation Economic Benefits - Non-Aviation Economic Benefits - Visitor Economic Benefits
