Economic Impact Analysis (EIA)
Economic impact analyses are used to estimate the total impacts (direct and indirect) in terms of output/sales, jobs, payroll and taxes associated with a project, policy or event in a specific area – from a zip code to an entire state. Businesses, economic development organizations as well as governmental entities use our economic impact reports to make informed decisions about securing business incentives, changing zoning, demonstrating the positive impacts of an organization’s work on a targeted area, and justifying public sector return on an economic development investment.
Identifying & Securing Grant Funds
The number and type of grants available from federal, state and local governments is immense and the competition for funding is even greater. MB3 works with clients including government entities, non-profit and academic organizations, and for-profit businesses to identify appropriate grant opportunities, prepare competitive applications and manage funded projects.
Business Incentives (Grants, Tax Abatement and Credits & Financing)
We have a proven track record of securing valuable state and local incentives for businesses from many different industries and of varying sizes to strengthen our clients’ return on investment as well as the economic competitiveness of the communities in which they locate. We have experience in most states with business incentives such as property tax abatement, discretionary and infrastructure grants, job creation and retention tax credits, training grants, tax increment financing, new market tax credits, port authority financing, sales tax rebates, and more.
Economic Development Support & Advising
Outsourcing is a major strategic decision for most economic development organizations since it involves weighing the potential operating cost savings against possible issues such as “loss in control” and consultant “conflict of interest” … these are the two most common concerns we hear. We are in constant contact with our clients, spending many days on-site, to ensure the best possible service delivery and client satisfaction. With our economic development outsourcing engagements, we primarily work on business retention and expansion, project management, and marketing (which is different than business attraction). In most cases, we do not do direct business attraction as part of our outsourcing services in order to avoid any potential conflicts of interest. Our goal is to ensure that your community is in the best possible position to realize stable, sustainable growth. Our clients appreciate our extensive experience, professional network, and ability to provide comprehensive economic development services at a fraction of what it costs to maintain a full-time staff.