HARVEY ECONOMICS CONTINUES TO BE THE LEADING SERVICE PARTNER FOR FORECASTING, IMPACT ANALYSIS, AND FEASIBILITY
Our firm focuses on Water and Wastewater Economics, Environmental/Natural Resource Economics, Tourism/Recreation, Energy and Minerals, Litigation Support, Native American Tribes, NEPA, and Agriculture. No matter the area, private and public groups turn to us to help them with Forecasting, Impact Analysis, and Feasibility.
GO BEYOND SURFACE-LEVEL THINKING
Businesses trust Harvey Economics to help them more fully understand current business activity, employment conditions, and future markets. Public entities rely on us because of our experience examining demographic trends, emerging economic changes, recreational patterns, resource use patterns and our success in communicating complex economic issues. Whether it’s sales or population changes, accurate forecasting benefits decision makers.
LONG-TERM PLANS NEED COMPREHENSIVE REVIEW
Impact Analysis illuminates effects on social, economic, recreational and other resource topics related to projects moving through the NEPA process. Private companies gain insight about their business through benefits quantification, benefit-cost analysis, and cost-of-service analysis. Harvey Economics uses proven economic principles to uncover and explore details that pertain to a project, revealing effects on impacted communities thus helping clients to see the big picture.
CAPITAL, LIKE ALL RESOURCES, IS FINITE
One of Harvey Economics’ strengths is our ability to ascertain whether or not an expenditure makes sense for a client. Without careful study, potential pitfalls can be revealed years down the road. We can evaluate funding opportunities, partner opportunities, and identify the best way to deploy assets. Our clients are looking for a glimpse of the full picture beforehand. Exploring feasibility is vital in an age where business decisions move quickly and consequences from those decisions can be magnified and unintended.
OUR RANGE OF SERVICES ALLOW US TO TAILOR SOLUTIONS.
ECONOMIC AND DEMOGRAPHIC FORECASTING
Private and public entities can’t plan for the future without a clear idea of what’s coming. Business leaders and public resource managers need solid intelligence about both the present and the future. What are the major economic sectors? What are their sales and employment? Where are population and economic growth headed? Using established techniques, we develop economic and demographic projections that are realistic and reliable for making real world decisions.
SOCIOECONOMIC IMPACT ANALYSIS
Actions affect many. Government and private industry seeking to know the social and economic ramifications of an action turn to Harvey Economics to understand the effects on people, business, and the public interest. Our team is experienced in looking at the whole landscape to determine impact. We understand how key economic sectors, community groups, environmental resources, and social institutions can be affected. Our goal is to examine every detail and bring you the insight.
Also referred to as benefit-cost analysis, this tool helps decision makers gain confidence in the commitment to pursue or drop new initiatives. Costs aren’t always apparent, but at the same time, opportunities to profit or to realize non-monetary benefits also may be hidden. Benefit-cost analysis also helps with developing or managing resources. HE asks: Can we identify all types of costs and benefits? What groups will incur what effects? Does this endeavor make sense, considering all the benefits and costs, including those to third parties?
FISCAL AND FINANCIAL IMPACT STUDIES
Community change naturally results in financial impacts to public jurisdictions, residents and other parties. Public officials and business leaders need accurate assessments about those potential future capital and operating cost impacts. Harvey Economics’ previous client experience includes preparing fiscal and financial impact studies for local and state jurisdictions and private entities. Our team helps clients compile revenues, costs, profits, losses and capital needs to create a clear picture of a project’s fiscal implications.
RESOURCE VALUATION AND ASSET ACQUISITION
Natural resource values are hard to quantify. HE goes beyond traditional market techniques to value land, biologic and aquatic resources. Using established economic techniques, HE estimates dollar values for natural resources to ensure the optimal preservation or use of those resources. HE can then incorporate those valuations into asset transfer between parties to create equitable transfer scenarios.
Size of market, competition, price response and expectations set the compass for many businesses. HE provides research-based market forecasts for a wide range of economic sectors, from manufacturing to natural resource management. The key is a strong understanding of market dynamics. Established techniques, such as in-person and telephone surveys, help project numbers of potential customers, market penetration, competitive threats, opportunities, price changes and future revenue.
ECONOMIC AND FINANCIAL FEASIBILITY AND FUNDING AVAILABILITY
Economic feasibility is commonly seen as the minimum threshold for considering a new endeavor. A keen perception of opportunity costs and avoided costs allow us to more clearly evaluate the merits of any proposal. Financial feasibility speaks to the question of “should you put money into this initiative, and where will that money come from?” We bring decades of experience to these types of studies. Our team uses established techniques for projecting cash flow, expenses and capital needs, evaluating financing options and funding availability incorporating opportunity and avoided costs.
RESOURCE DEMAND FORECASTING
How much water, energy, open space or other natural resources will we need or want in the future? We bring more than forty years of experience to the discipline of resource demand forecasting. Starting with projections of population, employment and other demand drivers, HE develops defensible forecasts of resource demands for municipal, agricultural, industrial, recreational and utility uses. HE creates effective presentations for these forecasts to guide planning, testimony and business strategy.
COST RECOVERY AND RATE STUDIES
One responsibility of utilities and other resource managers is to collect sufficient revenues from customers to fund ongoing and future operations. In assisting organizations, HE has a strong track record of providing studies of cost recovery, capital and up-front charges and rate structures. HE combines its expertise in demographic, economic and resource analysis with extensive finance experience to produce sound evaluations of current and proposed rate structures.
In the 21st-century, resource conservation planning is a must. Business and resource managers alike have come to respect the diverse benefits of incorporating strong conservation programs into their planning. Incorporating market economics with financial considerations into conservation planning is an HE hallmark. We bring experience in evaluating the costs, benefits, impacts and implementation challenges of conservation measures across the West.
Economic models help to foresee how a proposed activity will change or fit into a dynamic economy or be changed by that economy. Tools used to create economic models range from spreadsheets to complex programs that incorporate different features of a local or regional economy. We find that many projects are unique, requiring development of custom models, but when it makes sense, we also apply commercially-available economic models, such as IMPLAN. Economic models can help with socioeconomic impact analysis and cost-benefit studies.