lndustrial inertia has both spatial and behavioral connotations. In the first place, it implies stability in plant location whereas in the second, it results from managerial behavior which either actively perceives advantages from status quo locations or passively condones such locations through lack of initiative. This paper illustrates the dilemmas facing a British shipbuilding firm which chose to locate at a greenfield site instead of opting for the traditional centers.Receive order from the Seres Shipping Co. ( o i New York) for three 10,750 dwt. dry cargo ships. Contract worth f4.5 million.Receive order to supply 20 trawlers for Welsh fishing interests; contract partly Government funded.Receive f3.5 million contract to build six trawlers for the Government of Ghana.As Newport Shipbuilding and Engineering C o . , engaged 111 building two ferries for Scottish island5 services and three ferries for City of Dublin.Because new land uses may preclude existing or potential future uses, the net economic impact of a particular policy may be substantially less than its gross impact. One way to estimate the differences is with an analog region. A case study illustrates how an analog region estimates the net economic impact of Grand Teton Nafional Park on Teton Counly, WY. Approximately one-third of the economic act/v/ty attributed to the park would still be present in the absence of the park Key Words: net impacts, gross impacts, analog region, alternative future.