Economic Research and Modeling

Demographic & Economic Projections and Modeling

This area of analysis focuses on understanding demographic and socio-economic characteristics of population which may be relevant to a business or industry, including population counts, family and household size, income, age, race, housing preferences, and more.  Changes in these characteristics, including population projections, changes in income levels, and other factors can be estimated for a specific region and compared to other regions.

Employment and Labor Market Projections

Industry growth depends on access to an adequate labor pool.  EEC can provide an overview of existing employment conditions in the region, including existing and historical data for labor force, employment, unemployment, wages, and more.  These data are available on an industry basis and can be projected into the future to determine impacts on the labor market from new businesses and industries.  Skill sets required for employees of a certain industry or occupation, along with availability of these skills in the region can also be analyzed.

Housing Market and Feasibility Studies

In partnership with the Center for Regional Studies at the University of Nevada, Reno, our team maintains a comprehensive housing database incorporating data for location, number of units, and pricing of proposed, new, and existing housing sales and projects.  Using these data, along with various demographic and socio-economic and income and affordability variables, our team can provide the following:

  • an overview of the existing housing market

  • projection of  demand for future housing by location, price, and type 

  • analysis of housing affordability by type, location, buyer income levels, and more

  • analyze exiting or projected surpluses and/or shortages of housing by type, price, location

  • recommend pricing strategies and unit mix for real estate developers

  • project housing absorption levels

  • new residential pipeline reporting

  • and more

Public Policy Analysis

Public policy decisions can have significant positive or negative impacts on governments, businesses, and residents, making it important to understand these impacts before public policies are implemented.  Relevant analyses can include:

  • Fiscal impact studies

  • Economic impact studies

  • Social impact studies

  • Program feasibility analyses

  • Cost-benefit analyses

  • and more

Our team has experience analyzing impacts of public policies including new taxes and tax increases, new private public funding strategies, economic development abatements and incentives, and more.

Economic Development Strategy

An economic development plan is created by public, non-profit, or business entities to implement a strategy for economic development in a region. Economic development strategy requires a clear understanding of the area; a market study is a useful tool in this process, as well as an understanding of historical and future economic trends for the area. The result of an economic development planning process is a set of goals and objectives designed to stimulate economic growth in the area.

Industry Targeting Studies

Industry targeting studies are a common economic development tool for improving the effectiveness of business recruitment and growth promotion activities. An industry targeting study identifies economic sectors best matched to the characteristics of a particular region and provide insight into the region's competitive advantages for these industries.

 

Oftentimes economic development strategy focuses on “trendy” industries, those that have highest employment, wages, or growth. The problem is that these industries may be incompatible with the area’s labor supply, availability of resources, taxation, or public service structure.  The following tools can help provide a better understanding of the area’s competitive strengths and weaknesses:

  • industry clustering,

  • shift-share,

  • location quotient,

  • industry linkages,

  • export enhancement, and

  • import substitution analyses

Site Selection and Location Analyses

Site selection is one of the most important decisions for a new or expanding business. Incorporating demographic, socio-economic, competitive and complimentary business size and location, and other data with GIS mapping techniques, a site selection analysis can help compare desired attributes of multiple locations or determine the best location within a given area.

Why EEC

In addition to almost two decades of professional experience conducting various economic studies, combined with robust academic experience in the field of economics, business administration, finance, and accounting, our team has access to primary, reliable, and credible economic, demographic, business, and housing data.

We have conducted numerous economic studies for multiple industries, businesses, industry associations, and non-profit and governmental entities.  We work closely with our clients to ensure our studies provide the type of information needed for their decision-making, while adhering to high standards of trustworthiness, reliability, accuracy, and credibility.

© 2020 Ekay Economic Consultants, Inc.

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