Economic Analysis
Policy Analytics has strong in-house research capabilities. Economic analysis is important both for governmental units and private companies. Economic analysis arms the client with the appropriate knowledge to make effective decisions to strengthen the local, regional, and statewide economies. Quantitative analysis, combined with thoughtful strategic insight, provides Policy Analytics’ clients with a leadership advantage within their respective markets and industries.
Economic Research Service Areas
Labor Market Studies: Labor Market Studies identify specific emerging trends within a specific job sectors. Additionally, these trends are identified within defined geographic terms and compared to similar sectors in other geographies
Industry Sector and Cluster Analyses: Well-defined Industry clusters drive regional economies. Each cluster can provide good paying jobs and increase the standard of living. It is important to identify developed, emerging, and potential clusters within a regional economy. Understanding the trends within each cluster can help policy-makers, at both the local and state levels, to make the most effective decisions to aid in strengthening the overall economy.
Specific Industry Research: Often, local and state government, as well as business leaders, seek accurate information concerning the health of one or more specific industries. Having detailed information upon the health of a specific industry is valuable in decision-making and strategic planning for public sector and private sector decision-makers. For example, gambling venues not only impact local revenue streams, but they also can provide good jobs and provide a stimulus for localized economic development. Policy Analytics identifies the extent to which a specific industry impacts the local, regional, and state economies.
Strategic Leadership Profiles and Metrics Benchmarks: Detailed and accurate information provides decision-makers, in the public and private sectors, with the most up-to-date information for effective decision-making. Demographic profiles can also include Peer-to-Peer modeling, which compares like geographical areas across the country to understand best practices and the best policies for progressing the economy.
Impact Modeling: Impact modeling is a wide area of analysis. Policy Analytics uses sophisticated models to identify specific impacts that economic expansion will have on local, regional, and statewide economies. When a new business relocates, or an established business adds new jobs, specific impacts occur such as those on the local tax base, new indirect jobs to supported added jobs, and additional consumer spending. Policy Analytics can identify these unknown impacts. Impact modeling can also be used to understand the impact of business park developments, and technology park developments.
Transportation Related Strategic and Economic Analysis: Policy Analytics provides decades of experience in assessing, evaluating, and measuring the effects of changes in the transportation infrastructure. Modern and efficient transportation networks are key to increasing and strengthening economic vitality. Policy Analytics provides the necessary quantitative and qualitative analysis of large-scale capital improvements including: airport expansions, commuter rail expansions, and major roadway expansions.
