Fiscal Impact Assessments
Economic Impact Analysis enables an organization to determine the value of its sales, employment, operations, visitor spending, and/or capital investments on the local economy. Looking at direct spending and how those purchases ripple through the economy as both indirect and induced effects, Urbanomics uses the industry's leading input-output models to determine the value of each action or event on a zip code, county or regional basis in terms of employment, value-added, and output (GDP). Fiscal impact analysis is the estimation of likely property, sales, and corporate tax costs and benefits due to the construction and operation of a facility. In the case of tax exempt organizations, fiscal contributions are derived from visitor spending at both the client organization and surrounding local businesses.
Our work has included socioeconomic analysis support documents for CEQR and SEQRA submissions from small-scale development sites to a neighborhood rezoning on the scale of the East Midtown Rezoning Revisions EIS and FEMA-based Benefit Cost Analyses of resiliency projects. We also have experience in looking at the likely impacts of an infrastructure investment in terms of value-capture. Of special interest to Urbanomics is quantifying the number of public school children likely to come out of multi-family development. Appreciative of the sensitivity of this topic, Urbanomics’ has worked with municipalities and school districts in cooperation in order to test Rutgers and PUMS multipliers in order to come to a mutually beneficially determination of impacts.