Our work provides the information necessary for investors and governments to make informed decisions that create jobs, increase retail sales, build new neighborhoods and expand infrastructure. - John H. Alschuler, Jr.

Economic & Fiscal Impact

American Museum of Natural History

HR&A conducted an economic impact study of the museum’s north-side renovation and the development of the Rose Planetarium. HR&A's analysis examined one-time economic impacts associated with construction and the annual impact of the ongoing operation of the facility. The study provided estimates of both direct and indirect spending using input/output models to calculate the ripple effect of increased spending. We also developed a demand analysis for the museum, which included a detailed visitor profile for the new Rose Planetarium expansion project. This profile was based on street interviews, as well as telephone surveys. HR&A’s analysis was used extensively by the museum for both internal planning and for public and private fundraising.

Empire State Development Corporation, New York City Economic Development Corporation, and the Alliance for Downtown New York

HR&A developed projections of the economic benefits if the commuter rail extended to lower Manhattan from midtown. We analyzed the effects on firm and visitor behavior; the nature of the benefits that accrue from changes in behavior; and the identity of the beneficiaries such as firms, employees, landowners, and government. We also looked at the distribution of benefits among various geographical locations including Manhattan, lower Manhattan and New York State, and how particular alignments might affect the projections.

Keck Institute of Applied Life Sciences and the City of Claremont (CA)

HR&A prepared an analysis of the local and regional economic and public revenue impacts of the Keck Institute, the seventh member of The Consortium of the Claremont Colleges. Based on the development costs and the operating budget data for the first phase of the project, HR&A estimated the construction-related and operational employment of the project at completion, along with the tax revenues that the city would accrue from faculty, staff, student and visitor spending, and from Institute operating expenditures. HR&A also prepared a qualitative assessment of the role that the Keck Institute could play in the development of the Los Angeles County biosciences industry.

Los Angeles World Airports (LAWA)

Since 1995, HR&A has prepared all of the regional and local economic impact analyses to evaluate alternative Master Plan concepts for the future development of Los Angeles International Airport (LAX). These activities included extensive econometric modeling of future baseline economic conditions, forecasts of conditions under alternative development scenarios, various subareas of the city and the County of Los Angeles, including the other four urban counties in the region plus the five-county Southern California region as a whole. The analyses have been included in the project’s voluminous EIS/EIR documentation. HR&A also assisted senior LAWA management, city officials and other project team leaders to respond to numerous questions from elected officials, local and regional leaders and the general public about the economic implications of the alternatives. HR&A has also completed related assignments for O’Hare International Airport’s O’Hare Modernization Program, and for San Diego International Airport.

New Jersey Center for the Performing Arts

HR&A developed a long-term financial plan for this half-billion dollar performing arts project in Newark. This project included federal, state, city, and private funds made up of grants, bond financing, tax increment financing, and special assessments. It involved reviewing existing feasibility studies of entertainment facilities, researching potential funding sources, and assessing infrastructure requirements. In order to project a 30-year cash flow, HR&A developed detailed financial models and a phased schedule of four entertainment facilities. We also developed the concept of establishing a Tax Increment Financing District in Newark’s downtown. The district capitalized on tax revenues using tax-exempt bond financing, to help subsidize construction costs.

New York Sports and Convention Center

For the Building Trades Employers’ Association, HR&A conducted an independent study analyzing the proposed plan for the New York Sports and Convention Center (NYSCC). The assignment examined the factors that contributed to or inhibited the success of other sports stadiums throughout the country. HR&A developed three extensive case studies of comparable urban stadium developments that successfully produced significant economic impact. HR&A conducted interviews with public officials, economic and community development experts, private-sector architects and key members of the real estate community. We also reviewed relevant literature including government and planning documents, and visited the sites. HR&A then analyzed the findings, identifying critical success factors for the stadium developments and drawing conclusions about the likelihood of success for the planned NYSCC. We presented our findings to the press and various community and business stakeholders.

P&O Ports International

HR&A conducted an economic impact analysis of potential expansion of the New York City Passenger Cruise Ship Terminal (NYCPST). HR&A worked with the operator of the facility to consider the economic impact of several expansion options. The analysis looked at growth in the cruise industry along the entire eastern seaboard, as well as the ability of the NYCPST to capture a share of growth based on current and potential capacity at the terminal facility. Using this industry data, HR&A looked at the overall economic impact on New York City of the proposed expansion options. Impacts considered include tourist visits, construction employment, and spending by cruise line and the NYCPST operator on provisioning, berthing, longshoring, and other activities.

Tishman Speyer Properties

HR&A assisted in the economic analysis and packaging of a proposal to redevelop the Coliseum site in New York City's Columbus Circle. The redevelopment site was a significant civic space in the city, and had been at the center of years of controversy. Our goal was to balance the need to maximize the public's financial return with the need to provide a strong urban design statement worthy of the location. HR&A prepared the economic impact analysis and assisted with all aspects of the public outreach and approval processes.