TischlerBise conducts economic impact analyses, market and economic feasibility studies, site evaluations, highest and best use, pro forma and financial analyses, and business plans leading to sound investment/marketing strategies for both public and private sector clients throughout the U.S. We also assist the public sector by providing targeted research, formulating specific economic development strategies, and defining roles aimed at furthering community revitalization.
TischlerBise conducts economic impact analyses, economic feasibility studies, and market studies for both public and private sector clients throughout the U.S. Recent assignments include:
Bridgewater Township, New Jersey
The Bridgewater Redevelopment Agency (BRA) retained TischlerBise to expedite negotiations with the developer of a regional shopping center along an interstate highway. The firm conducted a market reconnaissance, a financial feasibility study from the developer’s perspective, and a fiscal impact analysis from the public sector’s perspective. The BRA used this information to successfully complete an agreement with the developer. This successful project was featured in the book, Edge Cities.
TischlerBise prepared a Benefit/Cost Analysis for the City’s TIGER II Discretionary Grant Application for proposed highway improvements. The analysis included an overall description of the project and analyzed the return on investment in terms of direct, indirect, and induced impacts over the short- and long-term. Our team worked closely with City staff to collect data and obtain ongoing feedback throughout the study. TischlerBise synthesized all relevant data and information and used IMPLAN to determine overall economic impact. The results of the analysis revealed that the total benefit to cost ratio of the project is 40 to 1
Little Rock, AR
As part of the City’s Future-Little Rock effort which directed the goal-setting and strategic planning program for the City, TischlerBise conducted a fiscal and economic impact analysis that evaluated three scenarios, all of which measured the cost of continued disinvestment in the downtown. The Trends scenario assumed that housing abandonment continued in two areas of the City. The Residential scenario assumed less abandonment in one area and growth in the other four zones. The third scenario, Employment, assumed the same residential component as Trends, but had approximately 400,000 square feet of additional nonresidential development.
TischlerBise conducted feasibility work as part of the Beale Street revitalization program. Beale Street, in Memphis, Tennessee, is now a tourist destination. TischlerBise analyzed similar locations around the country and recommended a development program. This included retail, eating and drinking facilities, and specialized entertainment. Developer proformas were also evaluated.
Pottstown Metropolitan Regional Planning Commission, Pennsylvania
TischlerBise recently completed a Regional Market Assessment and Fiscal Impact Analysis for the Pottstown Metropolitan Regional Planning Commission (through the Montgomery County Planning Commission along with funding from the Delaware Valley Regional Planning Commission). The first phase of the assignment was a community assessment of land use and economic conditions and trends in the region and identification of potential market opportunities, which is home to eight jurisdictions. Based on the findings of the first phase, three scenarios were evaluated to determine the fiscal impact of different rates and location of future growth. The fiscal impact analysis included the direct costs and revenues to each of the eight separate localities and four school districts in the region. The project also provides a fiscal impact model for use by the County in assessing the fiscal impact of major development projects in the region.
According to John S. Cover, AICP, Chief of Community Planning, PMRPC: “The Pottstown Metropolitan Area Regional Planning Committee retained the services of TischlerBise in 2011 to prepare a market analysis and fiscal impact study for the eight-municipality region. The consultant team not only met our expectations but exceeded them by producing reports that were clearly tailored to our needs and circumstances; comprehensive and thorough; and readable and understandable. The participating municipalities are already using the momentum behind this effort, and the information learned, to move forward on the following:
- To use the fiscal impact analysis to weigh the pros and cons of moving from individual municipal police forces to joint police.
- To amend the regional comprehensive plan to incorporate, as official policy, the report’s findings and recommendations.
- To use the fiscal impact model to assess the benefits of a developer initiated rezoning request against future costs to constituent taxpayers.
- To begin the dialogue on how best to work cooperatively, rather than as competitors, to foster beneficial economic growth.
City of Newton, Massachusetts
TischlerBise helped to arrange a financial package for a mixed-use project. In Newton, a suburb of Boston, a major developer proposed a mixed-use project, with the City paying for the structured parking. The City retained TischlerBise to determine the probable market absorption, developer proformas, and financial alternatives. Working with the City, the developer, and a neighborhood coordinating committee, the firm helped to arrange a financial package that included tax increment financing and City participation in office rent increases.
Shenandoah University (Winchester, Virginia)
TischlerBise conducted an Economic Impact Analysis of Shenandoah University in the City of Winchester and Frederick County, Virginia. This was the University’s inaugural economic analysis. TischlerBise worked with staff to obtain information in an efficient manner, collected additional other relevant data, synthesized information, conducted primary and secondary research on the University and regional economy, and analyzed the economic impacts of the University. Specifically, TischlerBise determined the economic impacts of University employment and its spending on goods, services, and construction as well as spending by students and visitors, and examined the fiscal and qualitative impacts on the community. The IMPLAN model was used to determine direct and multiplier effects of University spending as well as the indirect and induced effects of employee, student, and visitor spending. The end result was a clear, concise and user-friendly Economic Impact Analysis Report that detailed the University’s impact on the community through its direct, indirect, and induced economic activity and job creation.
TischlerBise evaluated the direct and indirect economic impacts of a proposed hospital. In Toledo, Ohio, TischlerBise was retained by Promedica, Inc. to evaluate the direct and indirect economic impacts of a proposed health care facility to two Toledo suburbs. In addition, the firm evaluated the potential municipal revenues associated with the project.
University of North Carolina- Chapel Hill
TischlerBise conducted a fiscal and economic impact analysis of a planned expansion of UNC-Chapel Hill called Carolina North, a mixed use development consisting of housing, retail and research uses. This was a regional, visible impact study conducted on behalf of the University that analyzed the economic impact of the proposed development and the resulting fiscal impact of both direct and indirect growth on the Towns of Chapel Hill and Carrboro, as well as Orange County. Throughout the process, the consultant team interacted and coordinated with a variety of stakeholders including staff from the multiple jurisdictions (including schools), elected officials, community members, and University staff. At the conclusion, the University and Town of Chapel Hill were successful in negotiating a development agreement that considered fiscal implications. The assignment also included provision of a fiscal model to UNC for future evaluation of the development. TischlerBise implemented the model and trained University and jurisdiction staff on design and use of the fiscal model.
TischlerBise was an economic consultant on one of the first “housing linkage” experiments for the District government. In Washington, D.C., TischlerBise was the economic consultant on a “housing linkage” project. In this case, the developer requested a density bonus in exchange for a $1.4 million contribution to renovate 44 apartment units within one-third mile of the site. The housing renovation was coordinated by a non-profit community-based organization. This project constituted one of the first experiments in housing linkage for the District government.