Covid-19 Update

 

Effective Monday, March 16, 2020 and until further notice, Econsult Solutions is having staff members work from home. This form of “social distancing” has been implemented with the safety of our staff and the community at large in mind. We have instituted all necessary remote-working features and remain open for business, hard at work on current engagements and eager to hear how we can support your needs. 

These are extraordinary times. The global pandemic has reached every aspect of every life in every corner of the world. More than ever, ESI stands ready to apply economics, strategy, and insight to help you move forward. Be on the lookout for additional content on our blog, Present Value. Together we will emerge stronger and wiser. 

The Economic and Societal Impact of Project HOME

For thirty years, Project HOME has supported individuals and households through housing and supportive services that it offers. In recent years, the organization has expanded its presence through the Stephen Klein Wellness Center, the Haas Initiative for Integrated Recovery and Employment, and the Hub of Hope (a walk-in engagement center located at Suburban Station). All the while it has continued to invest in providing residential offerings, bringing Project HOME’s total housing supply to 894 units that serve a range of social needs.

With this recent growth in mind, Econsult Solutions completed an in-depth analysis of Project HOME’s impact on the Philadelphia and Pennsylvania economies. In doing so researchers analyzed the economic and fiscal impacts derived from annual operations and construction activity; the property value impacts gained through proximity to Project HOME facilities; as well as the positive social impacts generated by the services that the organization provides to individuals, households, and communities. Findings include:

  • Construction is estimated to have generated an economic impact of $378 million to the Pennsylvania economy over the past 30 years.
  • Project HOME’s operations generate an additional $55 million each year to Pennsylvania, with 550 jobs supported from these operations.
  • The presence of Project HOME sites is estimated to add $1.43 billion in residential property values to nearby properties throughout the city.

Beyond these quantifiable benefits to the economies of Philadelphia and Pennsylvania, in 2019 Project HOME served 1,080 residents and 4,600 healthcare patients (through 23,500 visits for medical, behavioral health, or dental services). Additionally, the “Ambassadors of Hope” special outreach team, the Outreach Coordination Center, and the Hub of Hope collectively saw 2,400 visits on average each week.

Taken together, these findings help Project HOME quantify its importance to the community, the Philadelphia and Pennsylvania economies, and especially the thousands of individuals that the organization directly serves each year.

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