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 New Brunswick Development Corporation (Devco) engaged ESI to analyze the potential economic impacts and conduct a Net Benefit Test for the proposed New Brunswick Health + Life Sciences Exchange Development. The 12-story building will be the home to the new Rutgers University Robert Wood Johnson Medical School, a comprehensive translational research facility for Rutgers […]Read More
The Delaware Canal, a historically significant, defunct industrial canal system, ties together multiple jurisdictions having shared challenges with the 190-year-old, dilapidated infrastructure. Following three consecutive years of devastating flooding of the adjacent Delaware River, critical obstacles to repairing flood damage came into sharp relief—as did an opportunity to develop a resilient stormwater management infrastructure improvement, […]Read More
In 2022, ESI was commissioned by the Pennsylvania Horticultural Society (PHS) to calculate the potential economic impact of returning to an indoor, in-person flower show. During the COVID-19 pandemic, the Philadelphia Flower Show was held outside in FDR Park, during the summer. PHS wanted to know what the economic impact would be if the show […]Read More
Urban Revitalization and Inclusive Growth
Equitable investment in urban communities is a crucial piece of solidifying a region’s overall economic competitiveness. ESI’s team focuses on inclusive growth strategies that revitalize neighborhoods and create opportunity for all.
By becoming a connected city, Newark, New Jersey can leverage smart technologies to further interconnect the local government to its citizens. ESI developed a framework for future policy and investments to guide implementation.
North Broad Renaissance is the business improvement district for one of Philadelphia, Pennsylvania’s most prominent corridors, anchoring adjacent neighborhoods, supporting businesses and community mainstays. ESI has provided economic strategy analysis for several years going.
For the City of Chicago, Illinois, ESI and RW Ventures find new ways to define retail corridors and better understand neighborhood change.
For Transforming Downtown Dover: Capital City 2030, ESI evaluated demographics and economic conditions, and formulated strategic financial recommendations to promote implementation of the master plan. Additionally, ESI provided an economic impact analysis of the master plan.
Economic Development Strategies
As workers and businesses become more mobile and flexible in where they locate, cities, regions, and states need new economic development strategies that focus not only on business attraction and retention. Successful economic development initiatives need to go beyond the traditional investment in incentives and leverage a community’s assets and emphasize the quality of place amenities that will attract workers and businesses for longterm growth.
ESI and strategic partner Parter International, Inc. developed a five-year strategic plan for Douglas County Travel and Tourism that supports the agency’s mission to promote visitor attractions in the Atlanta, Georgia metro county.
For Team Pennsylvania and National Institute for Inclusive Competitiveness, ESI identified the gaps in inclusive economic competitiveness that exist across the Commonwealth, measuring against national best practices, to ensure that future regional Comprehensive Economic Strategy documents are developed to achieve inclusivity.
For Opportunity Lives Here: An Economic Development Master Plan for Delaware’s Three Rivers Area, a comprehensive strategy to build the local economy of a distressed area that has key assets for inclusive growth, ESI led a team of land use planners and community outreach strategists in developing a master plan that is informed by implementable examples and presents real opportunities for equitable economic development.
Economic Impact Analysis
Economic development projects and programs often need to make their case to 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 of the nightlife economy of New York, New York.
Following the implementation of the Montana Economic Development Industry Advancement Act Tax Credit Program, created to attract media production to the state, ESI completed an economic impact analysis to quantify the array of benefits from increased film production in the state.
In Centre County, Pennsylvania, collegiate sports are an economic driver, attracting significant visitor activity. ESI quantified the impacts to demonstrate the benefits for Happy Valley Adventure Bureau, finding the benefits to the region from Penn State Athletics.
Return on Environmental Infrastructure
Environmental assets are a crucial component of a region’s ability to compete for global talent. Making the economic case for a community’s green infrastructure can drive further investment. We apply our expertise in economic development, market analysis, and economic impact assessment to support green and sustainable programs with internal planning and strategy as well as external funding and proposal development.
Communities in the Greater Philadelphia, Pennsylvania region, having invested in parks and open space protection, turned to ESI to quantify the economic, social, health, and environmental benefits realized from these public investments.
ESI developed a guide for decision makers in small to mid-sized communities on how to finance green infrastructure. The report includes analyses of the values of benefits imparted to communities from green infrastructure.
For the East Central Wisconsin Regional Planning Commission, ESI measured the economic impacts and environmental benefits of the existing and proposed trail network in a four county area of the region.
The Philly Tree Plan, a strategy for the growth and care of the urban forest in Philadelphia, Pennsylvania, aims to reduce disparities of tree canopy distribution. ESI evaluated the potential economic, social, and environmental benefits of this plan.
Innovation Economy Evaluation
The innovation economy creates opportunities for regions to provide economic opportunities in an inclusive and equitable way. ESI advises policymakers, private sector investors, and community-serving organizations on how to evaluate and benchmark the success of its innovation efforts in a way that can further attract new industries to a region.
To mark five years of ImpactPHL, a capital initiative of Ben Franklin Technology Partners, ESI surveyed, interviewed, and developed case studies for a report on how this program has stimulated entrepreneurship and innovation in the Philadelphia, Pennsylvania area.
ESI completed a thorough overview of the life sciences industry and the cell and gene therapy sector in the Greater Philadelphia, Pennsylvania region. The firm's in-depth experience was essential to quantify the potential economic impacts of the proposed The Discovery Labs development project.
Econsult Solutions completed The State of Cell and Gene Therapy in the Greater Philadelphia Region, assessing how the sector compares with 14 similar hubs across the U.S. in five key categories: research infrastructure, human capital, innovation output, commercial activity, and value.
New Brunswick (New Jersey) Development Corporation sought ESI's support to evaluate its planned biomedical research, learning, and innovation center in anticipation of seeking NJ Aspire Tax Credits.
Workforce and Talent Analysis
Today more than ever, innovative and inclusive workforce training and job growth strategies 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.
Endeavoring to increase opportunities in life sciences in the Greater Philadelphia, Pennsylvania region, a consortium of life sciences and workforce organizations turned to ESI to highlight the growth of and gaps in opportunities in the cell and gene therapy sector.
ESI analyzed data from a variety of sources to measure growth in young graduates in Philadelphia, Pennsylvania relative to peer cities, and the local economic impact of that growth. The findings support Campus Philly’s efforts to promote economic development strategies that incorporate higher education and talent retention.
ESI provided economic research on emerging new jobs for Cognizant’s Jobs of the Future Index, providing answers to key questions including: what are jobs are growing in demand in which industries, what are the geographic patterns emerging in jobs markets.
Navigating Public Financing and Incentive Opportunities
As seasoned advisors to economic development initiatives across US, ESI knows the landscape of funding and grant opportunities available for our clients. With years of experience in developing data-driven cases for public investment, we know how to make the economic case for your grant application.
We provide assistance to clients who are seeking or have been awarded Pennsylvania Redevelopment Assistance Capital Program (RACP) funds. We support the process from initial e-RACP application to developing economic impact cases for the projects to completing the full business plan and applications. Our clients range from large multi-stage master plan developments to community serving organizations to local government capital projects.
The RAISE grant program provides a unique opportunity for the U.S. Department of Transportation to invest in road, rail, transit, and port projects that promise to achieve critical national objectives. ESI works with public agencies to help convey to what extent a project will have positive economic, transportation, social, and environmental impacts to achieve desired outcomes of the grant program.
The New Jersey Economic Development Authority Aspire Tax Credit program is a financing tool that incentivizes strategic real estate projects in the state. The program supports commercial, mixed use, and residential development projects that strengthen communities and create local benefits. ESI works with program applicants to help them demonstrate the impacts their projects will have on the local, county, and NJ economy in the context of the overall tax credit program.
- Ben Franklin Technology Partners
- Brandywine Realty
- Comcast NBCUniversal
- Delaware River Waterfront Corporation
- Delaware Valley Regional Planning Commission
- Douglas County Travel & Tourism
- Downtown DC BID
- East Central Wisconsin Regional Planning Commission
- Fairmount Park Conservancy
- Great Rivers Greenway
- Happy Valley Adventure Bureau
- Harvey, Hanna & Associates, Inc.
- Hilco Redevelopment Partners
- Longfellow Real Estate Partners
- National Real Estate Development
- New Brunswick Development Corporation
- New York City Economic Development Corporation
- Pennsylvania Department of Agriculture
- Pew Charitable Trusts
- Philadelphia Visitor Center Corporation
- Riverfront Development Corp. of Delaware
- South Jersey Economic Development District
- State of Montana Commerce Department
- Team PA
- The Enterprise Foundation
- Trans Canada Trail
- Visit Philly
- Walnut Capital Management
- Wexford Science + Technology
Ready to find out more?
Sign up to get the latest news and updates delivered to your inbox.
You Have a Case to Make
Let us help you find a solution to your most pressing challenges. Our staff and advisory board consists of experienced professionals that provide the highest levels of technical expertise in economics, analytics, and thought leadership.
Econsult Solutions’ Economic Development Team Includes:
- City planners with expertise in master planning and urban revitalization, including identifying incentives, quantifying economic impact, and developing capital investment strategies;
- Seasoned economists with expertise in data analysis and research teams with a focus on the innovation economy, workforce evaluation, sustainable infrastructure projects;
- Public policy strategists with connections with government agencies, academia, and the private sector;
- Economic development and urban resilience experts, with extensive expertise in community finance as well as facilitation of strategic plan development.