The direct employment base related to ongoing operations at YWG is first measured. Employment figures are generally more understandable by the public than more abstract measures, such as economic output or GDP. Employment figures also have the advantage of being a more accurate measure, both because the firms are more likely to provide data on employment, as opposed to information on revenues, wages and other monetary amounts, and because there is less chance of double counting economic activity.
The economic impact study then assesses the indirect and induced (or “multiplier”) employment supported by YWG’s related operations, as well as economic activity in terms of economic output and GDP using Statistics Canada’s economic multipliers. The tax revenues generated annually by operations at YWG are also estimated.
- 1 For example, revenues reported by an air carrier would double count revenues received by caterers who prepare the in-flight meals. The caterer's revenue is an expense for the airline.