Urbanomics offers a range of services, including economic and demographic forecasting; economic and fiscal impact analysis; and market and financial feasibility analysis. In applying these methods, the firm draws on a diverse body of skills in regional economics, urban economics, transportation economics, environmental economics, and public finance.
Forecasting and Modeling
Urbanomics has performed economic and demographic forecasting for major city and state agencies, including the New York City Department of Environmental Protection (DEP) and the New York Metropolitan Transportation Council (NYMTC). The firm's NYMTC forecasts have been cross-accepted for use in planning by the Region's major transportation agencies. Urbanomics takes an integrated approach, combining forecasts of industry employment linked to national models, with cohort-based population projections, and a migration component that calibrates labor supply to demand.
Urbanomics uses its expertise in economic development to help communities assess the strengths and weaknesses of local economies, and identify economic strategies that can retain and expand existing industries, as well as attract new ones. The firm also analyzes existing and proposed public policy initiatives to determine net benefits and assists communities in the preparation of federal Comprehensive Economic Development Strategies (CEDS) and Consolidated Plans.
Market and Financial Feasibility
Urbanomics works with governments and private developers to identify the most appropriate uses for development programs based on analyses of area real estate markets and demographics. Urbanomics can help clients define target markets, identify existing and proposed competitive properties, and establish the level and timing of development. The firm also provides fiscal analysis of projects through revenue and expenditure estimates and pro forma development.
Urbanomics offers a variety of fiscal analysis services to public sector clients. Through analysis and forecasting of revenues and expenditures, the firm helps agencies understand the impact of programs and policies on future budgets and cash flow. Urbanomics can also help communities assess the fiscal impact of new development or land use policies in terms of municipal revenues and the demands for community facilities and services. The firm can help governments analyze the fiscal effects of the location decisions of major private sector employers.
Urbanomics' impact assessment work for public and private sector clients includes extensive experience in the analysis of infrastructure investments, proposed development projects, and government policies and programs. Using multiplier models, the firm can estimate the total economic effect of a given action, or assess the particular impacts on government budgets, household expenditures, and taxes. The firm can analyze the direct, indirect, and induced effects of discrete development projects, or of the policies and actions of government.
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