Our team’s capabilities include:
- Economic and fiscal impact analysis
- Benefit-cost analysis
- Project prioritization and decision tools
- Studies of wider economic benefits, including enhanced real estate value from transportation investments
- Economic simulation and forecasting, including socioeconomic and demographic, cost escalation and tax revenue forecasting
- Econometric modeling, including elasticity analyses for tolling or fare-supported projects
- Real estate impact analysis and market studies
- Economic development strategies support
- Risk analysis/economics of climate change
- Behavioral and economic geography and impact on infrastructure demand and supply
- Economic, social and spatial equity analyses
Economic impact analysis
Incorporating state-of-the-practice research and modeling tools, WSP helps clients quantify the likely job and productivity impacts of infrastructure development projects, improved mobility/accessibility and lower transport costs, enhanced productivity and efficiency, increased export activity, and improved reliability and resiliency. Clients include the Washington State Department of Transportation, Oregon Department of Transportation, Northeast Maglev and the California High-Speed Rail Authority.
WSP calculates the economic benefits and costs of investment alternatives, enabling clients to enhance their decision-making processes, gain stakeholder approval and buy-in to proposed projects, and support competitive federal discretionary grant applications.
WSP forecasts construction costs, tolling and tax revenues, demographic shifts and other drivers of regional growth. We conduct forecasts using econometric analysis; evaluation of economic global, national and local economic drivers; and through working cooperatively with regional planning agencies to incorporate local economic, demographic, planning and land use data. Clients include Sound Transit, Amtrak and the Ohio Department of Transportation.
Real estate market/value capture analysis
Our team evaluates and structures value capture mechanisms that help fund all forms of infrastructure by leveraging private resources, including joint development agreements, special tax district financing, tax increment financing and development impact fees. Clients include the City of Alexandria, Houston METRO, the Connecticut Department of Transportation, and the Greater Cleveland Regional Transit Authority.
National studies and market research
WSP has conducted numerous studies for public and industry research institutes and centers and is a thought leader on a wide range of economics-related topics that help support healthy, equitable, sustainable and resilient communities.