Economic Impact

Economic Impact Analysis of Chanute AFB Closure: 1989

In recent years, several military bases have been targeted for closure. Using the Economic Impact Forecast System (EIFS) developed by U.S. Army Construction Engineering Research Laboratory (CERL), a comparative analysis was successfully completed by Dr. Hewings of the impacts of closure of the Chanute Base in Rantoul, Illinois.

Dr. Hewings completed a study in 1989, concerning the economic impacts of the closure of Chanute Air Force Base on the Village of Rantoul, Illinois. The study involved a survey of local businesses, professionals, and community leaders in order to gauge the anticipated economic decline by those most likely to be impacted. Local businesses anticipated sales declines between 20% and 50%, while Realtors expected property values to decline sharply. Government officials expressed concern over the loss in property and sales tax revenues. The model looked only at the immediate impact of AFB closure. Had the client desired further analysis, a examination of the impacts of successful economic conversion of the Chanute facilities could have been examined.

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