Economic DevelopmentEconomic Development

Applied Economics provides a variety of research and implementation support services for economic development organizations at all levels, including cities, counties, states, chambers of commerce, regional economic development organizations, and utility providers. We create customized software tools for economic developers, as well as marketing materials, labor market analyses, and other economic research.

These tools include Metrocomp, a user-friendly database application that allows economic developers to create high quality, customized responses and proposals. It contains comparative business climate information at the metropolitan area level for more than 300 variables, as well as interactive operating cost comparisons.

Another customized software tool is our Regional Economic and Revenue Impact Model. This product, which is described in greater detail on the Economic and Fiscal Impact page, can be used to measure the return on investment from economic development programs over a single year or multi-year time period. It can also be used to measure the impact of a specific project.

We are also experienced at performing Incentive Analyses. We build customized incentive calculators that can be used by economic developers to calculate the value of state and local incentives for a particular company. We also conduct detailed analyses of tax revenues and incentives for specific companies on behalf of state and local economic development organizations, which may include a comparison of taxes and incentives across multiple competing locations. This comprehensive information enables our clients to engage in more effective negotiations when preparing and finalizing incentive agreements.

In addition to software tools, we also create Factbooks and other Marketing Materials for cities and regional organizations. These factbooks contain a variety of information about a community or region, including relevant charts, tables and text highlighting the primary assets and locational advantages that an area has to offer. Data and graphics from these marketing materials are often used for web pages as well.

We also conduct Labor Market Studies to assess the skill mix of the workforce in an area and compare this to the occupational needs of target industries, thereby identifying any gaps. We perform assessments of local education and training programs and make recommendations as to what programs will result in a more competitive workforce for particular types of industries.

Applied Economics also conducts Target Industry Analyses for many cities, counties and regions. These include a review of the current economic base and an analysis to determine which industries have the greatest potential for future expansion in the region.