The paper reviews the literature related to the assessment of the effects of an establishment on a local community, particularly those concerned with educational establishments. The theory of the methods of impact assessment are reviewed and some of the problems associated with empirical identification and evaluation of effects are highlighted. The limitations of the basic models are considered. In the case of an educational establishment there are a number of specific impacts, such as the effects of student incomes and expenditures. The paper includes estimations of the impact on jobs and incomes in and around Wolverhampton of the Polytechnic and identifies a number of additional benefits which accrue but cannot be given monetary values. A number of assumptions have had to be made in order to assign values to certain impacts. Wherever these occur they are clearly detailed so that they may be open to debate.
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