Economic and Fiscal Impact
Applied Economics conducts studies and develops models to measure the effects of a variety of activities, including new development, tourism, company expansions, and annexations.
We have developed several products for evaluating economic development impacts on a project by project basis, including an Economic and Revenue Model and the more comprehensive Economic and Fiscal Model. Both models are customized for specific locations.
The Economic and Revenue Model is primarily used by state and regional organizations to quantify the results of efforts to bring new businesses to an area. This model can also be used to measure the supplier spin-off activity that is created by a new business. The results can be used to show the impacts of a single project, or a group of projects, on a particular region or to calculate the return on investment for the economic development organization.
The Economic and Fiscal Model is used by cities to evaluate the benefits and costs of company locations, expansions and exits, and to assess incentive offerings. Both the revenue and expenditure portions of the fiscal impact are customized to reflect the budget and operations of the target location. Because of the specificity of the fiscal impact, this model is most appropriate for local economic development organizations, such as cities or chambers. We also offer a development based fiscal impact model, which quantifies the effect of land use, zoning and density changes on public finances caused by new development, redevelopment and annexations.
In addition to these products, we perform Customized Economic and Revenue Impact Studies for major corporations, tourism events and attractions, universities, non-profit organizations and transportation planning agencies. We have also created customized fiscal impact analyses that include revenues and expenditures for city annexation areas, land use alternatives for major planned developments, and general plan updates. .