Forecasting & 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 latest 40-year NYMTC forecast series was cross-accepted for use in planning by the Region’s major transportation agencies in October 2020. Urbanomics takes an integrated approach, combining forecasts of local industry employment linked to national models, with cohort-based population projections, and a migration component that calibrates labor supply to demand.
The firm is capable of preparing socioeconomic forecasts across a multitude of geographic boundaries from fine-grained neighborhood or school attendance zones to travel time-based commutation zones and multi-city or county market areas. Urbanomics has prepared customized enrollment forecasts for use in long-term school facility planning, potential customer forecasts for key service sectors, as well as household and population forecasts for assessing future household demand by housing developers.