It found that, as an iconic international sports brand and growing events business, it played a 'pivotal role as an economic stimulus for the region' with a direct contribution of £16.1m per annum into the local economy which is set to grow to £32million a year by 2016.
The cumulative economic impact of the stadium by 2015/16 will be £117 million for the local economy.
In association with Carmarthenshire County Council, an independent firm of business advisers, Focus Consulting, based in Dublin, was commissioned to undertake a detailed study of the economic and social impact of the Scarlets and its stadium and venue business at Parc y Scarlets.
The study, which analyses data from November 2008, when the Scarlets first moved to their new home Parc y Scarlets, up until April 2012, provides an accurate and current picture of the contribution made by the rugby and stadium business.
It describes the Scarlets' business as the "heartbeat of the region", as a world-renowned sports organisation and flagship event destination and venue business.
The Scarlets' contribution to tourism, jobs, economic investment and the stability of supplier companies within the county are clearly stated - positioning the rugby region as one of the key generators of local economic activity and success in Carmarthenshire.
Key findings show that the Scarlets and its stadium operations are one of the largest employers in the region with the investment injection of £5 million paid annually in wages and salaries to employees of the club and stadium operations.
A further £3.2million is injected into the local economy from local goods and services, in addition to the income effect from the wages and salaries generated by the Scarlets spent locally.
Parc y Scarlets has attracted 649,000 customers to sporting and non-match day events since it opened.
Events on match day, non match day, conferences and banquets have generated 28,500 bed nights for the region since it moved to Parc y Scarlets, while annual events attendance targets of 200,000 can achieve 15,000 bednights per year.
The Scarlets currently yield a social return on investment of £1.04m for its community programmes through rugby activities, player engagement, community initiatives and onsite social activity provision.
The findings support and form a key part of the Scarlets' business planning and vision for the next five years to create greater sustainability. The result of their work is something which the Scarlets believe illustrates the significant contribution that a sporting institution can make to the society it operates within.
Scarlets Chief Executive Mark Davies said: "This is a positive report for everyone associated with us and supports us in our vision, future plans and values as a rugby and stadium business. It shows the importance of our business to the local economy and our communities and the potential to significantly contribute in the future.
"It's important that we fully understand and see the economic and social picture of the Scarlets within Carmarthenshire and West Wales and assess and analyse exactly what we mean to the fabric of our region and communities - so that we can continue to work very hard to uphold and push forward that contribution.
"There's a lot of hard work ahead of us but this report gives us great heart - as well as motivation that a successful Scarlets is vital to West Wales. It's clear from the report that the picture without the Scarlets rugby business and its world-class stadium is pretty stark."
The Economic and Social Impact report highlights the Scarlets' ability to bring new economic activity into the area, provide sustainable levels of employment and produce a strong return on social investment across the region by enhancing the international identity of the region.
Davies said: "Jobs, increased tourism, support of local suppliers to the benefit of local companies, international recognition, our contribution to cultural and social heritage - all of these things can be linked to the Scarlets and it is vital that this knowledge furthers our drive, ambition and support to take this forward in a positive way. It provides our public and our supporters with a shared sense of pride in what we are all working hard to achieve together."
The Scarlets have broken existing club records for attendances this season with an average gate of more than 9,000 in league games in 2010/11, placing them third in terms of highest average attendances across all the Celtic teams, behind Irish giants Leinster and Munster.
Season ticket sales are ahead of last year's performance with more than 3,000 already signed up in just over a month since launch with a large percentage of new customers, with another four months until the new season starts at Parc y Scarlets.
Davies added: "Our values as a business are quite clear - that we want to work at the heart of our communities to be sustainable and successful as a broader business to allow us to invest in our rugby which provides inspiration and aspiration to young generations in rugby, sport, health and education.
"Our vision and responsibility after all, is not just to find the next Jon Davies, Rhys Priestland or George North, but to generate true aspiration in the thousands of youngsters they will inspire.
"From a rugby point of view, we touch over 100,000 participants at all levels throughout West Wales, whilst Parc y Scarlets welcomes well over 200,000 customers every year to corporate, social and entertainment events taking place throughout the stadium facility.
"Our projected contributions, both social and economic, are forecast to grow significantly over the next three years.
"The Scarlets has been at the heartbeat of Llanelli and West Wales for over a century. We're conscious that we must represent and reflect the pride, heritage and values of our communities and we're working hard to embrace that fully."
Carmarthenshire County Council Leader Kevin Madge said: "The Scarlets brand is all about global and local entertainment, creating community social cohesion, jobs and enhancing the local economy.
"Many take for granted what goes on at the Scarlets on a week to week or game to game basis. This report lifts the lid on the critical and essential value of the club all year round and all it brings to the county, especially the little spoken about number of full and part-time jobs and financial stimulus to the county.
"The club is pouring millions of pounds into the local economy and providing hundreds of jobs which is what we recognised would be the case while supporting the club in their ambitions at their new Parc y Scarlets stadium.
"It is wonderful news to have confirmed the club is providing exceptional value in terms of revenue and jobs in the Carmarthenshire. This report makes that abundantly clear."