In 2023, the Cobbs Creek Foundation hired Econsult Solutions, Inc. (ESI) to update figures from a 2017 economic impact study on their renovations and proposed programming initiatives.
ESI calculated the upfront impacts from construction, which included a one-time estimated economic impact of $201 million in direct, indirect, and induced effects within Philadelphia’s economy, as well as 1,010 jobs and $66 million in employee compensation. When the geographic scope was widened to include the Commonwealth of Pennsylvania, those numbers increased to $245 million in economic impact, with 1,200 jobs and $78 million in employee compensation.
The fiscal impacts of construction are estimated to generate $3.1 million in tax revenues for Philadelphia and $3.4 million for the Commonwealth of Pennsylvania.
ESI also looked at the accessibility of construction jobs based on location and educational attainment and found that most of the jobs would be accessible to a majority of West Philadelphia residents.
Following the construction impacts, ESI examined potential annual impacts from ongoing operations. Using an input-output model approach, ESI calculated economic and fiscal impact in Philadelphia and Pennsylvania, as well as local job accessibility by educational attainment level and related industry.
When the renovations are complete, Cobbs Creek Golf Course will host an 18-hole championship-level and a site for large scale tournaments, in addition to other features like a driving range, 9-hole short course, and a restaurant. ESI calculated potential economic impact the site would generate from visitor spending and tourism activity, in both the city and state.
Lastly, ESI noted additional impacts from the finished facility, generated by youth programming, funded in part by the Tiger Woods Foundation, and economic and quality of life benefits as a result of environmental and infrastructural remediation.