Thoughtful Insight and Data-Driven Analysis
Economic Development sits at the intersection of government, business, and institution as community leaders manage revitalization and growth. Econsult Solutions brings a depth of knowledge from a breadth of experience and a data-driven toolbox that enables our clients to plan and implement successful programs, policies, and projects.
The Latest Insights
The Economic Impact of Montana Film Production: An Analysis of the Industry and the MEDIA Act, 2019-2020
The production of feature films, television series, and commercials can generate significant economic activity for their host communities, drawing out-of-town spending, generating jobs, and supporting local businesses. Because of this potential boost to local economies, many states provide incentives to attract productions as an economic development initiative. In 2020, the Montana Film Office retained ESI […]Read More
Economic development is an increasingly complex endeavor. Communities are competing on a global scale and the rules of competition are constantly changing. Local economic development provides the cornerstone of social and business networks that propel the local economy. Because a vibrant economy cannot be taken for granted and we cannot assume that every citizen is […]Read More
Econsult Solutions, Inc. (ESI), in partnership with North Highland and Urbane Development, completed the first ever economic impact study on the City of New York’s nightlife economy. NYC’s Nightlife Economy: Impact, Assets, and Opportunities was commissioned by The Mayor’s Office of Media and Entertainment and reports on: Direct impact of New York City’s nightlife economy and historic […]Read More
Business Districts and Commercial Corridor Revitalization
From Downtown to Main Street, commercial districts are core community assets that rely on economic relationships; their ability to thrive is a key to regional competitiveness. As economists, planners, and urbanists, Econsult Solutions understands the inter-relationships that bolster success.
Econsult Solutions led a multi-discipline team to prepare an economic development roadmap for the immediate, short-term, and long-term future for the Borough of Media, Pennsylvania.
Econsult Solutions has provided annual economic strategy analysis for the North Broad Renaissance BID for several years going. North Broad Street is one of Philadelphia’s most prominent corridors, anchoring adjacent neighborhoods, supporting businesses and community mainstays.
To reinforce downtown Williamsburg, Virginia's sense of place and support growth while leveraging its unique historic, cultural, and natural assets, the city's Economic Development Office and Planning Department commission Econsult Solutions, The Riddle Company, and Group Melvin to develop a strategy plan.
Economic Development Strategies
In an increasingly competitive economic environment, economic development initiatives and strategies are more important than ever for regional growth and success. ESI is adept providing insights and developing growth strategies that will leverage a community’s assets and coalescing stakeholders to implement those plans.
Productive business locations are characterized by high concentrations of human capital, multi-modal transportation infrastructure, a variety of businesses, and lifestyle amenities including recreational, entertainment, and a variety of residential offerings. With these criteria, Econsult Solutions developed competitive positioning for King of Prussia site selection.
For Team PA, Econsult Solutions, together with Temple University's Fox School of Business quantified the Commonwealth's competitive advantage in key agricultural sectors. This research and analysis has aided in determining policies for the industry.
Econsult Solutions worked with the City of Wilmington Office of Economic Development to build a communication and marketing strategy that would attract Opportunity Zone (OZ) investors and developers.
Economic Impact Analysis
Economic development projects and initiatives often need to make their case to local stakeholders and decision makers about their return on investment. ESI’s economic impact analyses help our clients quantify their economic and jobs impact within their communities and describe their value within their local context.
Econsult Solutions, Inc. (ESI), in partnership with North Highland and Urbane Development, completed the first ever economic impact study on the City of New York’s nightlife economy.
Econsult Solutions worked with developer Harvey, Hanna & Associates to help them articulate the potential economic and fiscal impacts of their proposed redevelopment of a former automotive plant near Wilmington, DE.
With tax incentives cited as the driving force behind data center location decisions, a coalition of data center developers worked with Econsult Solutions worked to analyze the potential impacts of a similar policies on growth of the industry in Pennsylvania.
We apply our expertise in economic development, market analysis, and economic impact assessment to thoroughly evaluate the potential strength and impact of green initiatives. With our detailed research and comprehensive reports, we can support green and sustainable programs with internal planning and strategy and external funding and proposal development.
ESI was commissioned by the Sustainable Business Network of greater Philadelphia to articulate the local economic impact of Green City, Clean Waters, an ambitious initiative of the Philadelphia Water Department that seeks to invest in green stormwater infrastructure projects throughout the city.
ESI was commissioned by the Natural Lands Trust, the Chester County Planning Commission and a coalition of funders and business leadership to update a 2010 report on the economic value of open space in Chester County, Pennsylvania.
Tourism and Hospitality
Tourism and hospitality serve as a powerful economic development tool in the modern economy, attracting outside dollars and creating accessible employment opportunities. At a time of unprecedented challenges, ESI's tourism practice provides strategic planning and analysis to help our clients grow and articulate the benefits to their communities.
ESI and strategic partner, Parter International, completed an analysis of the feasibility and potential economic impact of the Kalmar Nyckel Foundation's plan for a new maritime history-based riverfront attraction in Wilmington, Delaware.
With an aim to foster self-sustaining, long-run growth of tourism and vacation visitation, Ocean City, New Jersey worked with ESI and Parter, International to develop a strategy to develop the economy of this Mid-Atlantic shore town.
Visit Philadelphia, the agency responsible for tourism promotion for the City of Brotherly Love, turned to Econsult Solutions to quantify the impacts of the city's tourism economy.
Houston First Corporation retained Parter International and ESI to prepare a Strategic Tourism Plan for Houston and the 29-county region, including an economic impact analysis undertaken by ESI.
Innovation is sparking rapidly evolving opportunities; the type and rate is a leading indicator of what is working for a community. ESI’ ability to capture and benchmark the right data ensures our clients within-depth analysis and findings that can be translated into policy development.
Wexford Science + Technology retained ESI to assess the potential economic impact of their proposed development. planned in partnership with Ventas, Inc. to be located in the University of Maryland BioPark. The project is seen as a linchpin connecting historically underserved West Baltimore neighborhoods, the UMB campus and downtown Baltimore.
Econsult Solutions teamed with the CEO Council for Growth, an initiative of the Greater Philadelphia Chamber of Commerce to study the economic impacts of technology transfer and commercialization in the Southeast Pennsylvania region.
Econsult Solutions has worked with Wexford Science + Technology LLC on several specialized market studies and analyses of innovation districts, particularly for health and life sciences.
To quantify in economic and fiscal terms, the impacts of the Welcoming Center for New Pennsylvanians' employment program aimed to improve earnings potential among under-employed foreign trained immigrants, Econsult Solutions measured the program participants' contributions to the city and state revenues and overall economies.
Today more than ever, workforce training and job growth are essential to a region’s economic resilience. With expertise in workforce data and strategy, ESI provides our clients with insights into baseline conditions and future growth.
Greater Philadelphia Cell and Gene Therapy and Connected Health Sectors – Future Workforce and Talent Needs Analysis
Econsult Solutions provided an independent assessment of the future workforce and talent needs in the cell and gene therapy sector of the connected health industry in the Philadelphia region.
Econsult Solutions assisted Campus Philly in developing its new report summarizing the impacts of retaining graduates from area college and universities on Philadelphia and the Delaware Valley.
To benchmark the emergence of new jobs, consulting giant Cognizant's Center for the Future of Work worked with ESI through its thought leadership arm ESI ThoughtLab to develop the Jobs of the Future Index.
Navigating Public Financing and Incentive Opportunities
With insightful data-driven analytical capabilities and trusted experience, ESI understands the funding and grant opportunities available for economic development projects, and helps clients submit successful applications.
Better Utilizing Investments to Leverage Development, or BUILD Transportation Discretionary Grant program, provides a unique opportunity for the USDOT to invest in road, rail, transit and port projects that promise to achieve critical objectives.
We provide a comprehensive suite of advisory services for Opportunity Zone investments, from development and investment strategies, to impact evaluation and communications.
- New York City Economic Development Corporation
- Walnut Capital Management
- Wexford Science + Technology
- Visit Philly
- NJ PRO
- Team PA
- University City Science Center
- Harvey, Hanna & Associates, Inc.
- Tower Development
- Drexel University
- Parkway Corporation
- Center for Advanced Infrastructure and Transportation at Rutgers University
- Reading Terminal Market
- Quintessence Theatre
- State of Montana Commerce Department
- New Mexico Biosciences Authority
- Houston First Corporation
- Delaware River Waterfront Corporation
- King of Prussia Business Improvement District
- Detroit Food and Fitness Collaborative
- East Coast Greenway
- Delaware Valley Regional Planning Commission
- Comcast NBCUniversal
- Brandywine Realty
- Pelli Clarke Pelli
- Broad Street Ministry
- Mount Airy CDC
- RAIR Philly
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