Economic Impact Analysis
Evaluating a program or institution’s economic impact is a powerful tool for demonstrating value, mobilizing constituents, and assuring financial support. We create customized Economic Impact Analysis models to calculate the increase in economic activity, in terms of jobs created, new earnings, and new regional spending, attributable to a new or existing institution, development project, program, or policy. Our Economic Impact Analyses can be linked directly to economic development or workforce policy to serve as a strategic guidance tool. In addition, we can customize the analysis to include intangible impacts, such as socio-economic impact and intellectual property and research impact.
Fiscal Impact Analysis
The long-term impact of a program or project on the local government is an important, yet often neglected, part of the decision-making process. We build customized Fiscal Impact Analysis models to evaluate the effect institutions, development projects, programs, and policies, have on demand for infrastructure and public services (such as public safety and school systems), the composition of the tax base, and tax and user-fee revenue collections. Our Fiscal Impact Analyses can be used to evaluate development strategies and land use policies, plan for long-term budget and capital needs, develop financing strategies, and weigh the benefit of offering tax incentives or creating a special taxing districts.
Our proprietary research methods coupled with our experience provide our clients with the necessary data that is critical to making informed business decisions and preventing unwise and costly investments due to limited or incomplete data. We conduct research and field assessments, create comparative and competitive market profiles, and utilize surveys and interviews to characterize the anticipated market and the supply, demand, and leakage/surplus factors for the project within the context of overarching national and regional market trends.
Budget and Revenue Analysis and Modeling
Development strategies must be grounded in the practical, which means the current and future fiscal climate are critical for understanding exactly what types of policies, programs, or projects are feasible. We specialize in developing Budget and Revenue Models by analyzing past performance, meticulously-researching our forecasting assumptions — taking into consideration regional, state, and national economic trends — and developing long-term projections.
All public policies and projects have costs and benefits, winners and losers. Understanding the full range of the effects of those policies and projects is critical for informed decision-making, mobilizing support, resource allocation, and planning. Our Cost-Benefit Analyses are noteworthy in their comprehensive identification and quantification of intangibles and externalities in order to provide a three-dimensional analysis. The results of our analysis gives our clients a concrete method for determining if a project or a policy is worthwhile for the community.
Return on Investment Analysis
Communities are often faced with tough decisions regarding the allocation of scarce resources, often without a clear understanding of the viability of different investment options. We view data as one of the most effective ways of ensuring wise stewardship of resources. Our Return on Investment Analyses help our clients weigh the performance of multiple investment scenarios, compare the benefits of programs across users, and evaluate the efficiency of alternate policy options.