The purpose of this report is to analyze the economic impact of existing Aquatic Invasive Species (AIS) on businesses and households in Great Lakes states. We explore the economic impact of AIS from two perspectives. First, we examine the existing evidence of AIS-related costs to households and businesses. Second, we identify the set of industries most directly affected by AIS in the region and quantify their size.
Overall, we find that AIS disrupt economic activity on a large scale in each of the Great Lakes states. AIS impose real costs on industries, consumers, and governments. Costs to individual companies and households include direct expenditures on combating an invasive species or repairing the damage it has done, and include indirect costs such as reduced productivity and higher prices in industries particularly affected by AIS. Governments and private actors such as nonprofits also devote significant resources to addressing AIS.The industries most acutely affected by AIS include sport and commercial fishing, water treatment, power generation, industrial facilities using surface water, and tourism. Together, these industries employ over 125,000 workers in the Great Lakes region.
While comprehensive cost estimates (including all industries, species, and waterways of the Great Lakes region) are not available, there are many individual estimates focusing on part of the problem. These cost estimates range from millions of dollars in cost and lost output for individual large industrial and power facilities to hundreds of dollars annually spent by individual households to control AIS on their property. It is likely that the overall aggregate level of cost to the Great Lakes region is significantly over $100 million annually.
This document is a re-issue of a report originally released in 2012, including several corrections and clarifications.
Benchmarking for Success: one is a series of three reports prepared for the MI House Of Representatives
Analysis of the 2006 Ryder Cup’s likely economic impact on the country of Ireland, prepared jointly by Anderson Economic Group of East Lansing, Michigan, and Anarach Consulting, or Dublin, Ireland.
The Coalition for Access and Affordability in Michigan (CAAM) commissioned Anderson Economic Group to complete an independent analysis of the special role played by Blue Cross in the Michigan health insurance market. In particular, we were commissioned to: review the Michigan health insurance market, identify the specific statutory mission of Blue Cross Blue Shield of Michigan (BCBSM) within that market, and to estimate, where data are available, the benefits and the burdens that result from the company’s activities under the current statutory mission.
As recently introduced legislation would change the relative burdens of Blue Cross and commercial insurers, it is informative to look at BCBSM’s historic role in the Michigan health in surance market, the original rationale for its unique tax benefit, and the costs and benefits of fulfilling its mission today. This paper looks at all of these areas to assess the impact of pending legislation.
Our analysis focused on the future cash flow that the mortgage wholesale operation would have generated had the plaintiff been allowed to continue directing the operation. The operation was set up as a unit of a larger bank, and generated income through interest earned on its loan portfolio, and by selling loans on the secondary market. To determine the value of this operation we estimated overall loan generation in coming years, taking into account economic and market changes and which loans would be added to the portfolio and which would be sold to the secondary market. Expenses of the operation were also forecasted, allowing us to estimate cash flows for the operation. These cash flows were then discounted to the present day to arrive at the value of the operation.
The findings of our analysis were summarized in an expert report which was used for settlement purposes. Shortly after our report was submitted our client accepted a favorable settlement offer.
A Chicago based commercial litigation firm, retained Anderson Economic Group, LLC as a expert in a matter involving the value of contractual rights to a share of profits earned by a mortgage wholesale operation. Our work was done on behalf of the plaintiff, who was seeking damages for termination of contact.