Regional Economic Impacts

Economic impact analyses assess changes in economic activity from a regulatory action. Economic activity should not be confused with economic value. Comparison of the benefits and costs from a fishery regulation are used to assess changes in the value that consumers and producers derive from fish resources. A regional economic impact analysis is concerned with changes in sales, income, employment, and value added of particular sectors of the economy that are affected by a fishery regulation. So, while overall economic value might increase as a result of a regulation (the size of the pie increases), there may be sectors which experience reductions in their market share, as measured by sales, income, or employment (their share of the pie decreases). These two types of analyses serve different purposes and economic impacts analyses cannot assess changes in economic value. It can, however, shed light on the distribution of sales, income, and employment among sectors of the economy that are affected by fisheries regulations.

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