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Feasibility Studies Have High Payoff in North Dakota

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Title: Feasibility Studies Have High Payoff in North Dakota
Author: Mittleider, John F.; Coon, Randal C.; Hertsgaard, Thor A.; Helgeson, Delmer L.; Dunn, Eddie V.
Description: In 1983, there were two items that consistently topped the list in every statewide survey that was conducted around that time for the identification of both the concerns and needs of North Dakota residents. These were the lack of job opportunities for it's young people. Also, the exportation of North Dakota agricultural products that could have been processed into semi-finished or finished form and, thus, generate additional income and employment opportunities within the state. Typically, feasibility studies address a wide array of potential industries and various situations which might evolve. Thus, methodologies might vary considerably. these studies may be related to the creation of new facilities to compliment already existing businesses, the analyzing of partial projects or the addition of new enterprise to better service clientele. Complete feasibility studies are usually focused upon analyzing current market conditions and other related factors. The reason behind this article was for the examination of the effect of feasibility studies upon the economic development within the state, to aid in the determination of the cost of conducting such studies with relation to perceived economic benefits and for the identification of historic sources of funding. The North Dakota Input-Output Model was utilized in order to estimate the indirect and induced effects of those firms established as the result, or at least in part, to the feasibility studies conducted. These studies indicated that the construction of of new plants which had a positive effect on the economy. However, the estimated changes to gross business volume or employment levels during the construction phase were not figured into the equation. Construction phase's effects for projects are not reoccurring.
Date: 1983
Subject: Economics
Permalink: http://hdl.handle.net/10365/10191

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