Earlier this year, we were asked to help demonstrate the impact of a publicly funded business incubator in a city during its most recent fiscal year. Additionally, the client sought to illustrate the potential long-term impact of incubator-assisted businesses, as a portion of these businesses may succeed and expand in the local community. We were able to collect information from the incubator on the number and type of businesses assisted, as well as the number of employees, salaries, and revenues associated with each.
Based on the mix of current incubator businesses and discussions with the client, we developed an illustrative example of one or more businesses expanding and succeeding in the community. In addition to the new revenues and employment, we were able to estimate the associated tax impact resulting from this growth.
In total, our analysis helped the incubator quantify the value to the city and other funding partners in terms of the employment, salaries, and local tax revenues its operations generate.
This post is part of a series on the many uses of an economic impact study. These stories represent just a few of our clients and illustrate how they have used our analyses to communicate the value of businesses and/or other organizations in their community. Here’s the full list:
- State-level Economic Development Incentive Program – California Competes Tax Credit
- Local ED Incentive Negotiations
- Economic Development Organization (EDO) Performance Report
- A Manufacturer Faced with Possible New Water Restrictions
- Public Four-Year College Impact Analysis
- Publicly Funded Business Incubator