Get a new handle on decisionmaking. Today Economic Impact Analysis can help stakeholders better understand the local or regional changes in economic activity that result from a project or event–well before they happen. Over the last several years TP3has adopted of Economic Impact Analysis as a tool, and augmented it with more detailed data to look beyond tax base data to illuminate the link between economics and real estate decisionmaking.
Relevant inputs + new tools = more complete picture. By using project-specific inputs and a variety of other economic multiplier data, mapping, and real estate tools, the TP3 team can paint a more complete picture that includes ripple effects such as:
- Addition of new temporary and permanent jobs
- Additional spending at support businesses and services
- Wage impacts
- Additional visitor traffic and spending
- Other value-added economic output at community, state or regional levels
Dynamic data tells a story. Economic Impact estimates can help tell a larger story about a project or company and how it fits within the broader community. This type of data has also been used to underscore the unexpected ways that businesses and industries within a region/state work together.
TP3 can perform an Economic Impact Analysis as a standalone work product, or as complementary to other services.