Economic Impact Analysis Consultants: Economic Impact Studies Nationwide

An economic impact study estimates how a project, facility, programme or policy changes jobs, labour income, business output and tax revenue in a region. As economic impact analysis consultants, we prepare economic impact studies for clients nationwide, from a single city to a multi-state region, and deliver each one as a clear economic impact report. Public agencies use them to justify investment and win grants. Developers and nonprofits use them to show a community what a project is worth, and primes include them in proposals to strengthen the case for funding.

What our economic impact analysis covers

  • Direct, indirect and induced effects on employment, labour income and output, using input-output modelling such as IMPLAN or RIMS II
  • Construction-phase and operations-phase impacts, reported separately so the results are not double counted
  • Tax revenue estimates for local, state and federal governments
  • Local and regional study areas: any city, county, state or multi-state region in the U.S., including California regions such as the Inland Empire and Southern California
  • A plain-language summary that councils, boards and grant reviewers can read in two minutes

When you need an economic impact study

  • Grant applications that ask you to show jobs created, regional benefits or return on public investment
  • Council, board and public hearings where a project needs community and political support
  • Development and incentive negotiations, including tax incentives and public-private partnerships
  • Facility openings, closures and expansions such as warehouses, plants, hospitals, campuses and airports
  • Events, tourism and cultural venues where visitor spending drives the local economy
  • Policy and program evaluation, such as a new tax, a workforce program or a regulation

How we prepare your study

  • 1. Scoping call. We confirm the question, the audience, the study area and what your funder or board expects.
  • 2. Data collection. You share project costs, employment and operating assumptions. We fill the gaps with BEA, BLS, Census and industry data.
  • 3. Modelling. We run the input-output model and separate construction-phase from ongoing operations impacts.
  • 4. Review draft. You review the findings and assumptions before anything is final.
  • 5. Final report and summary. A full technical report, a plain-language summary and, if needed, slides for your presentation.

What’s in your economic impact report

  • A technical report with methods, assumptions and data sources documented so reviewers can follow them
  • Tables of jobs, labor income, output and tax revenue by impact type and phase
  • A one- to two-page executive summary for councils, boards and grant reviewers
  • Charts and text you can reuse in grant applications, press releases and proposals

Economic impact analysis vs. benefit-cost analysis

They answer different questions. An economic impact study shows how much economic activity a project supports. A benefit-cost analysis asks whether the project’s benefits to society are worth its costs. Federal transportation and FEMA grants usually require a BCA, not an economic impact study. We tell you which your funder expects, and we can prepare both.

Who we work with

  • Cities, counties, ports, transit agencies and special districts
  • Engineering and planning firms that need an economic subconsultant. See Teaming Partners.
  • Nonprofits, universities and economic development organisations
  • Businesses planning a new facility or expansion anywhere in the U.S.

Frequently asked questions

How long does an economic impact study take?

Most studies take three to six weeks once we have project costs, employment figures and operating assumptions. Simpler analyses for a grant application can be faster.

Can you present the results to a council or board?

Yes. We prepare slides and one-page summaries, and we can present findings in person or remotely.

Do you prepare economic impact studies outside California?

Yes. We work with clients nationwide. Input-output models such as IMPLAN and RIMS II cover every U.S. county and state, so we can model any study area and deliver the work remotely.

What information do you need from us?

Usually the project budget broken down by major spending category, the number of jobs and wages during construction and operations, and any expected annual operating spending or visitor numbers. If you do not have everything, we help you build reasonable assumptions.

What are direct, indirect and induced effects?

Direct effects are the jobs and spending of the project itself. Indirect effects come from local suppliers that sell to the project. Induced effects come from workers spending their paychecks in the local economy. Together they make up the total impact.

Do you use IMPLAN or RIMS II?

Both, depending on the budget, the level of detail the funder expects and the study area. IMPLAN gives more detailed results, including tax revenue. RIMS II multipliers from the Bureau of Economic Analysis are a lower-cost option for simpler studies.

What is an economic impact report?

An economic impact report is the written result of an economic impact study. It explains the jobs, labor income, business output and tax revenue a project supports, the methods and assumptions behind the numbers, and a short summary decision-makers can read in minutes. Our reports are written for grant reviewers, councils, boards, lenders and the public.

Guides on this topic

Related services

Talk to us