Jeffrey Donohoe Associates, LLC has the ability to prepare a wide variety of fiscal and economic impact analyses. Typical assignments focus on such as the social and economic impacts of a major plant closure, and how can they be mitigated; and the economic and fiscal impact of proposed real estate developments. The goal of these analyses is to gain an understanding of the impacts on the local taxes and the economy.
Fiscal Impacts of Redevelopment, Weymouth, Massachusetts – JDA was retained to prepare a fiscal strategy for Southfield, a major redevelopment project which will include more than 2,800 housing units and two million square feet of commercial development. JDA prepared a twenty year forecast of the tax revenues associated with the development of the project. JDA also prepared an estimate of the costs for providing municipal services to the development, based on the projected resident and workforce population of Southfield. Costs for education, fire, police, public works and other municipal services were estimated, in order to provide the community with input into establishing the tax rate necessary to support these services.
Economic and Fiscal Impacts, Plymouth, Massachusetts – JDA was retained, as part of a project team, to evaluate the fiscal and economic impacts associated with the creation of a new $550 million movie studio and commerce park. The establishment of film tax credits by the State has attracted the attention of movie and television productions, with the number of projects being created in the State increasing substantially since the credits were put in place. However, the State does not have the necessary production infrastructure to support larger films, including production and post-production services. The proposed studio included fourteen sound stages, a hotel, retail complex, and more than 600,000 square feet of supporting office space. JDA provided the Town of Plymouth with estimates of the direct, indirect and induced economic impacts of the project, both for the construction phase and the operational phase.
Fiscal Impact Review of Retail and Office Development, Bellingham, Massachusetts – JDA was retained by the Town of Bellingham to provide a review of the fiscal impacts associated with the proposed Shoppes at Bellingham. The development project, located adjacent to Interstate 495, includes a 550,000 square foot retail center, as well as 600,000 square feet of office development. In addition to traditional fiscal impact indicators such as incremental tax revenues and incremental departmental expenditures, JDA also provided a retail gap summary which identified retail dollars being “exported from” and “imported to” the trade area.