Social and Economic Impact Studies
A principal area of FXM Associates’ practice has been to assess the economic and fiscal effects of proposed new projects and other investments. The wide range of project types and clients in this area of practice - from major private developers to national representative organizations, foundations, and government agencies - attests to the firm’s reputation for objectivity, depth, and quality of analytic work. The firm is recognized internationally for its state-of-the-art economic impact assessment techniques and has successfully defended its work before US District courts and in the precedent-setting case of Sierra Club v. Marsh in the First US Circuit Court of Appeals. As federal, state, and municipal agencies demand increasingly more rigorous – and defensible – assessments of net economic and fiscal benefits of potential investments and regulatory changes, FXM’s work has stood out for its clarity, objectivity, and success in helping achieve outcomes that advance economic development objectives and public benefits.
FXM’s work in economic and fiscal impact assessments is also featured in additional project examples in the Transportation and Economic Development sections of this website.
North Reading Municipal Wastewater System Financial Assessment Study
Kleinfelder, Town of North Reading
North Reading, MA is an unsewered town that is considering constructing a municipal sewer system. FXM completed an assessment of the differences in commercial property values in North Reading from those in ten surrounding communities with sewer service. The analysis revealed a substantial difference in the assessed and market values of comparable retail, office, flex and industrial properties with and without sewer. FXM also projected long term commercial growth potential (through 2056) with and without sewer service and calculated the impact of projected net new growth on municipal revenues. Both analyses were integral to the work of Kleinfelder and town officials’ assessments of sewer betterments on adjacent properties and those town wide. (2022-23)
In a follow-on study, FXM assessed the potential net fiscal impacts of alternative residential development scenarios with sewer, ranging from 500 to 2500 market rate condo or rental units under varied assumptions of municipal budget projections through 2056. In each instance projected net fiscal effects were positive. (2023-24)
Town of West Newbury Fiscal Impact Assessments
Town of West Newbury
FXM was retained by the Town to assess the fiscal impacts of two hypothetical multifamily development programs: one of 87 multifamily units and one of 38 multifamily units. The analyses were intended to inform Town officials of the potential impacts of zoning changes required by the MBTA Communities Zoning Law (G.L. c. 40A, § 3A). Both multifamily projects were found to be fiscally positive, yielding estimated annual revenues to the Town of $129,000 and $59,000, respectively, in addition to one-time building and utility permits and fees. For both developments, estimates of assessed values per unit and numbers of public-school children take account of 10% of units being affordable, as allowed by the MBTA Communities Zoning Law and required in West Newbury’s draft Zoning By-Laws. An assessment of municipal revenues and costs attributable to new single-family housing was also conducted based on data provided to FXM by town officials. The net municipal service costs per unit of single-family housing were estimated at approximately -$15,000 per year, a difference of over $16,000 per unit per year compared to the positive impacts of multifamily housing. (2025)
Assessment of Municipal Revenues and Costs of Proposed New
Developments in Medford
Inness Associates, Ltd., MassDevelopment
FXM Associates was contracted to provide a high-level assessment of the revenues and costs associated with two proposals to construct residential and commercial developments in Medford, MA. FXM’s analyses found that both developments would yield more to the City in revenues than it would cost to provide all city services (including General Government) to them. On a per unit basis, less than $300 separated the Davis development from the Transom project: the former would yield $4,345 in annual net revenues to the City; the latter would produce $3,894. At the project level, the larger Davis development would yield annual net revenues of almost $2 million, while the Transom development would produce about $1.1 million in average annual net revenues. (2025)
Bridgewater State Economic Impact
Bridgewater State University (BSU)
FXM prepared an overview of BSU’s economic contribution to a three-tiered hierarchy of economies: Plymouth County; Southeastern Massachusetts (Barnstable, Bristol, Norfolk and Plymouth Counties); and the Commonwealth of Massachusetts. BSU’s contribution consists of the University’s direct employment and expenditures in the state, as well as the multiplier, or “ripple,” effects of those initial expenditures as they are spent and re-spent throughout the broader state economy. The R/ECON™ Input-Output Model system was used for this analysis. Based on Fiscal Year (FY) 2024 operating expenditures and average capital spending from FY 2019 to 2023, BSU activity was estimated annually to support:
- 2,949 jobs
- $222.5 million in labor earnings
- $401.7 million in gross domestic product (GDP)
- $5.5 million in state tax revenues and
- $4.0 million in local tax revenues (statewide)
Most of the multiplier effects would accrue locally to Plymouth County. (2025)
Bellingham Prospect Hill Village
Wall Street Development
FXM assessed potential municipal revenues and costs attributable to two possible development programs in Bellingham, MA:
- 156 town house condominiums with 2 bedrooms each
- 20 units of single-family housing with 4-5 bedrooms each
FXM’s analysis found that the development of 156 units of 2-bedroom townhouse condominiums at full build-out would be fiscally positive at $5,300 per unit. The 20 single family home development would also be fiscally positive at $3,600 per unit. Both analyses included estimates of the number of school-age children who would come from the projects. The single-family development would have a larger number of school-age children per unit than the townhouse development, but the much higher market values of the single-family homes ($1.1 million per unit compared to $690,000 per townhouse unit) and smaller number of single family units resulted in their being fiscally positive. (2024)
Assessment of Municipal Revenues and Costs of Potential New Development in Wareham
Notos Group, LLC
FXM Associates was retained by the Notos Group LLC to prepare an independent assessment of municipal revenues and costs attributable to 90 units of single family, detached housing in Wareham. This analysis addressed potential annual municipal revenues and costs at full build out. At buildout, the potential 90 units of detached, single family housing are estimated to generate an annual $800,000 loss in net municipal revenue. This negative estimate was largely driven by the numbers of school age children expected to come from the 90 single family units. (2021)
Potential Market Driven Economic and Fiscal Impacts on the Town of Wareham of the COVID-19 Pandemic
Notos Group, LLC
This attempt to estimate pandemic impacts on Town revenues was undertaken under conditions of great uncertainty. The report was caveated regarding the effects of potential federal aid, rates of infections and deaths, vaccination uptake, resulting restrictions placed on businesses and governments, and the duration and severity of the pandemic itself. In more normal times data could be used at least to suggest future trends and opportunities. Under conditions at the time (2020), history could be used as a guide to recovery, but not in anything resembling a linear fashion. The analyses conducted therefore were presented as a range of possibilities of both scope and time.
FXM estimated that over the period 2021 to 2025, based on projected real estate market conditions and trends in employment and income, cumulative revenue losses to the Town of Wareham might range from about $930,000 to $1,500,000.
Economic and Fiscal Impacts of Mitigating Chronic Flooding in the Stafford Square Area, in Fall River, MA
Wright Pierce and the City of Fall River
FXM conducted a market overview and economic and fiscal impact assessments of mitigating chronic flooding in Stafford Square. The goal of the work was to inform federal, state, and local officials and the public of the potential benefits of the project and potentially to attract future funding for mitigation. Comparing tax valuations in Stafford Square and a comparable area of properties near Government Center in Fall River showed that if Stafford Square properties had been valued at the same per acre amount as those in the comparable area – a possible outcome of flood mitigation - the City would have realized $1,516,178 more in annual tax revenues. Projected market demand for both commercial and residential space: the retail development was estimated to produce 2,125 new jobs over the buildout period. These workers would earn an estimated $5 million in wages per year, or $96 million at buildout. Additional business sales would total an estimated $25.6 million annually, and approximately $500 million at buildout.
Construction expenditures proposed for mitigating flooding in the Stafford Square area would total approximately $33 million. These would have direct, indirect, and induced economic and tax effects within the economy of Massachusetts. (2024)
Economic Impact Study & Peer Review on Nantucket Short-Term Rentals
ACKNow, a non-profit organization based on Nantucket
FXM was contracted to conduct an analysis of the economic impacts of short-term rentals (STRs) on Nantucket. The analysis found that the year-round population spent three times more than visitors, including visitors who came for daytrips, short and longer stays, as well as traditional Nantucket seasonal residents. In other words, the local economy was found to be highly dependent on the spending habits of year-round residents. By contrast, a fraction of visitor spending was attributable to those staying in STRs. While there is value to year-round property owners who derive STR income, most dollars leave Nantucket, since approximately 80% of STRs are owned by individuals and entities based outside of Nantucket. Another group that stands to benefit from STRs are the 536 real estate agents employed on Nantucket. Subsequently, Nantucket voters rejected a STR zoning by law. (October 2023)
Foxborough – Walnut Street Affordable Housing Proposals, Analysis of Financial Considerations
MassDevelopment
FXM was contracted by MassDevelopment to analyze the financial aspects of two 40(B) proposals that were presented to of the Town of Foxborough for consideration. The two proposals were submitted by Commonwealth Community Developers LLC (CCD) in concert with Delphi Construction, Winslow Architects, Eastern Bank and Stratford Capital; and Walnut Street Joint Venture, a consortium that appeared to be led primarily by Peabody Housing with several other team members (Onyx, Utile, NEI, etc.). Both groups presented information regarding their capabilities, experience and approach to constructing market-specific age-restricted housing for seniors on land owned by the Foxborough Housing Authority (FHA).
FXM’s analysis focused on the feasibility of the development plan. Both proposals, as presented, were found to be financially feasible, in that the anticipated sources of funding equaled the costs of the development and there was sufficient cash flow to maintain the on-going operation of the projects. With both proposals, FXM recommended that the Town (via the FHA) attempt to negotiate for a higher fixed per unit lease fee, as well as a sharing of net cash flow with the ability to oversee the on-going management and operations of the project. (2022)
Overview Economic and Fiscal Impact Assessment of Innovation Place
SFA Malden LLC
FXM was contracted by a developer, SFA Malden LLC, to conduct a preliminary economic and fiscal impact assessment of a proposed development at Innovation Place in Malden, MA:
- Potential property tax revenues based on an approximate $100 million development project
- Potential income and local expenditures of approximately 1,000 permanent new jobs created in Malden.
At full buildout, FXM estimated that the development project would generate about $2,237,000 in annual property taxes.
One thousand new jobs would generate an estimated $29-58,000,000 per year in wage and salary income accruing to Malden residents, of which an estimated $17-35,000,000 would be spent in Malden. Of that, $13-26,000,000 per year would be spent at retail stores and restaurants. Based on current retail sales gaps in Malden, some of the expenditures expected could create opportunities for new or expanded retail stores. (2021)
North Station Economic and Fiscal Impact Assessments
Boston Properties
FXM provided the assessments that assisted in advancing the developer’s proposed $1 billion-plus North Stationresidential, office, retail and public facilities development project, including negotiated real estate taxes with the City of Boston and I-Cubed financing from the State of Massachusetts. (2014)
Economic Impacts of the Rhode Island Health and Educational Building Corporation Bond Expenditures
Rhode Island Health and Educational Building Corporation (RIHEBC)
FXM was retained to assess the economic impacts of RIHEBC’s $1.5 billion in financing for health and education construction projects between 2016 and 2022. Using data provided by RIHEBC on expected construction expenditures by type, FXM applied the R/ECON Input Output Model to estimate total direct, indirect, and induced effects of the bond expenditures on business output, household earnings, employment, GDP, state, local, and federal taxes. (2022)
Review of Wynn Everett Casino Impact Assessments
City of Somerville, MA
FXM critically reviewed the market and economic impact assessments prepared by Wynn Resorts for their proposed casino in Everett and prepared an independent analysis of potential economic and fiscal impacts of the project within the City of Somerville. FXM’s analysis concluded that Wynn had overstated possible benefits to restaurant uses and property values in Somerville and that, in fact, the City would lose property and meals tax revenues because of the casino operations. While Somerville failed to prevail in arbitration, Wynn agreed to compensate the City for the annual tax losses estimated in FXM’s analysis. (2014)
Economic & Fiscal Impact Analysis of the Proposed Lowe’s Home Center in
South Dennis
Local Businesses for a Strong Cape Economy (a private business group)
FXM Associates prepared an independent assessment of potential economic and tax effects of a proposed Lowe’s Home Center in South Dennis. The FXM examination focused on the project proponent’s submission to the Cape Code Commission for approval as a Development of Regional Impact, identifying major differences in rationale and findings. As part of FXM’s research, a confidential survey was conducted of established Cape Cod businesses that offer products directly competitive with the 4,000 in-store items that would be sold by the proposed Lowe’s. The FXM analysis determined that the proposed Lowe’s would result in negative net job creation, negative net municipal fiscal impact (taxes), negative net employee earnings, insurance and pension benefits; and no new services and products not already provided by existing Cape Cod retailers. Because of FXM’s report as well as its own independent assessment, the Cape Cod Commission rejected Lowe’s application, and Lowe’s terminated the project. (2013)
Economic Effects of the Port of Davisville, RI
Quonset Development Corporation (QDC)
FXM prepared an update of its earlier (2008) assessment of the economic and fiscal effects of the Port of Davisville on the Rhode Island Economy. The Port’s major tenant is NORAD, one of the largest importers of foreign autos to the US and a significant direct and indirect contributor to the state economy, as documented in FXM’s analysis using primary source data and the R/ECON Input Output Model. FXM’s earlier assessment was used by QDC to justify a significant investment in dredging intended to expand business opportunities and economic impacts attributable to NORAD and other port users. The later study confirmed the efficacy of that investment in terms of increased employment, output, household income, and taxes within Rhode Island. (2019)
South Hingham Office Park Market & Fiscal Impact Analysis
Bristol Brothers Development Corporation, Hingham, MA
FXM Associates prepared an independent economic analysis for the Hingham Planning Board regarding proposed zoning amendments that would allow commercial uses on a 115-acre undeveloped site. FXM assessed general market support for potential 1,260,000 square feet build-out of office, light industrial/warehouse, and retail space; and, compared the effects of potential commercial development to 80-100 single-family residential development allowed by existing zoning on net municipal revenue to the Town. Using FXM proprietary Municipal Fiscal Impact Model – which accounts for all categories of municipal revenues and costs attributable to residential and/or commercial development -- the analysis determined that there was sufficient market area demand to support commercial development and that net fiscal revenues to the Town of Hingham would be substantially greater if the proposed zoning articles were adopted to allow commercial uses. Owing largely to FXM’s report, both the Planning Board and Advisory (Finance) Committees for the Town voted to support the proposed zoning articles before Town Meeting, and the articles passed at Town Meeting (2012).
Sewer Infrastructure Economic Impact Analysis
Office of Community Planning, Town of North Reading, Massachusetts
FXM Associates evaluated potential economic effects of proposed installation of municipal sewer service to accommodate increased commercial development on Concord Street and Main Streets. The analysis was based on types and amounts of commercial uses allowed under existing zoning regulations, supplemented with data from real estate industry sources and input from interviews with commercial brokers, developers and property managers. Kleinfelder SEA engineers worked with FXM to compile a comprehensive parcel database for the two study areas from town assessor records and GIS mapping system. The consultants estimated increased commercial property value and density attributable to municipal sewer service and described market factors that might limit buildout potential. This report included an analysis of current and projected local and regional real estate market conditions and estimated potential additional commercial property tax revenue from installation of municipal sewer service. (Completed 2011)
Newport Harbor Economic Study
University of Rhode Island, Coastal Resources Center, City of Newport, Rhode Island
This unique study was commissioned to determine the importance of water-dependent and other waterfront uses to the municipal economy and tax revenues. Conventional wisdom has been that waterfront residential condominiums, hotels, restaurants and retail shops generate more local tax revenues than marinas, ship repair facilities, excursion/charter operations, and landside businesses servicing commercial and recreational vessels. FXM Associates derived the per acre yield in municipal revenues for each category of Newport waterfront land use from a comprehensive property database developed by URI CRC staff and City officials, as well as visitor surveys, interviews, and secondary source data on business sales and spending by type of consumer. The study findings addressed direct and indirect municipal revenue attributable to waterfront uses and showed that water-dependent uses yield significantly more per acre in municipal revenues than any other land use type – 2.5 times more than residential condominiums, for example. The study will help guide future City zoning and infrastructure investment decisions, as well as provide planning and elected officials with an objective basis for evaluation of proposed waterfront development projects. (Completed 2010)
Port of New Bedford South Terminal Development Plan
Massachusetts Clean Energy Center and Executive Office of Administration & Finance
The Massachusetts Clean Energy Center and Executive Office of Energy & Environmental Affairs commissioned an engineering and economic evaluation of Commonwealth ports suitable to service offshore wind energy development. FXM Associates assessed economic and fiscal consequences of prospective development projects to the Massachusetts economy. For the proposed South Terminal facility in New Bedford, FXM identified potential new cargoes in addition to offshore wind projects and prepared a business plan with projected costs and revenues, potential economic effects, and facility fee schedule. In October 2010, Governor Patrick announced plans to construct South Terminal as the nation’s first port facility designed specifically to support offshore wind projects. Cape Wind will use this facility during construction and manufacturing phases of its 130-turbine off-shore array, creating as many as 1,000 jobs in southeastern Massachusetts. In addition to support of offshore wind energy projects, FXM identified container, bulk, and breakbulk cargoes that could be serviced from a new port at South Terminal and that would generate net new economic benefits to Massachusetts. FXM also prepared a business plan and economic and fiscal impact assessment for these cargo services, showing that the port could cover annual operating costs, generate sufficient net income to support annual operation, and produce net new tax benefits to the state justifying additional capital investment by the Commonwealth of Massachusetts. Massachusetts provided $120 million in capital investments for the South Terminal Port construction, and it is now servicing offshore wind development projects as the New Bedford Marine Commerce Terminal.
Carver Water Supply Project
Town of Carver, Massachusetts
FXM Associates assessed the economic and fiscal implications of alternative municipal water supply options for North Carver. Using data provided by the Norfolk Ram Group engineering firm, interviews with Town officials, and FXM databases, FXM estimated that the provision of municipal water to key development parcels in North Carver would enable about 70,000 square feet of restaurants and 80,000 square feet of other retail development potential based on current market opportunities. Based on full build-out at the market assumptions further described in the final report, at current tax rates, FXM estimated that the Town of Carver would realize approximately $1.2 million of net new property taxes per year with municipal water supplied to prospective users in the vicinity of the Route 44/58 Interchange. (2004)
Municipal Fiscal Impact Model
Town of Sandwich, Massachusetts
As a component of the Sandwich Comprehensive Plan Update, FXM Associates created a Fiscal Impact Model to aid Town officials in evaluating pending and potential development projects. FXM senior staff worked closely with the Town Manager, Chief Assessor, Treasurer and major department heads to calibrate baseline physical and personnel capabilities, and cost of services for residential and commercial land uses. The model was tested using a specific proposed development project to show its effects on municipal service costs and revenues. FXM also contributed to the economic development component of the Plan, defining priority initiatives and strategies to advance community goals and objectives for business retention and attraction, increased employment opportunities, and expanded municipal tax base. Several years after FXM delivered its Fiscal Impact Model, town officials report is has continued to be a valuable tool for assessing net fiscal impacts of proposed development projects.
River Run Mixed Use Development Fiscal and Economic Impact Assessment, Plymouth, Massachusetts
ADM Development LLC
FXM was retained by ADM Development LLC to conduct a fiscal impact assessment of the proposed development of a planned, pedestrian-friendly community of approximately 1,000 residential units, 100 assisted living units, and 90,000 square feet of commercial space on 400 acres of a 1,320 acre site. The assessment consisted of estimates of gross tax revenues to be generated by the project compared to an estimate of municipal operating and capital costs attributable to the project over each year of a 12-year build-out period, and upon completion. In addition to fiscal impacts, FXM estimated increased business output within Plymouth County, jobs and household income, and expenditures during project construction, as well as projected spending by new households for local goods and services and additional jobs in the local area economy that would be supported by new household spending. As a consequence of FXM’s objective and comprehensive analysis, the Plymouth Planning Board approved zoning changes that have allowed the project to go forward.
Direct, Indirect, and Induced Effects of Chain Stores on the Cape Cod Regional Economy
Cape Cod Smart Planning & Growth Coalition
FXM assessed the effect that big box and other chain retailers could have on the overall economy of Cape Cod if growth in retail demand were largely captured by the chains by 2014. The study involved an analysis of secondary source data and case studies done in other communities; an independent baseline econometric forecast of population, employment, and income growth in the regional economy; and application of the R/Econ input output model to measure total direct, indirect, and induced effects on output, jobs, earned income, profits and other unearned income, and local, state, and federal taxes. The study concluded that if chain stores captured 50% of forecast growth in retail demand by 2014, the Cape Cod region would lose over 9,000 jobs, $600 million per year in business output, over $200 million per year in household income, and over $10 million per year in local taxes.
Review of Medfield State Hospital Redevelopment Proposals
Town of Medfield, Massachusetts
FXM Associates undertook a detailed review of state redevelopment plans for an 80-acre former mental hospital in order to examine the viability of reuse and environmental remediation assumptions, economic feasibility, and fiscal impacts on the town. Key elements of this research and analysis focused on economic issues related to the National Historic Landmark status of the Medfield State Hospital campus and buildings, and physical constraints influencing marketability of a proposed 300+ unit retirement community at the site. FXM and its subconsultant Earth Tech, Inc. analyzed financial data and pro formas prepared by the Department of Capital Asset Management for two redevelopment scenarios and found significant additional costs that would have to be borne by potential developers. The fiscal impact of the reuse plans and alternative development scenarios formulated by FXM were found to be positive. FXM's report provided the town with a blueprint for assessing future development options, including value and net fiscal impacts per unit for single family, condominium, assisted living, and skilled nursing facilities.
Economic Effects of a Building Cap
Town of Barnstable, MA
FXM Associates prepared an independent assessment of the impact a reduction in the number of permits issued for new single family home construction would have on related industry employment, household earnings, local spending, town infrastructure projects, town school enrollment, and net fiscal revenues to the town. FXM interviewed town and school employees, residents, and local contractors and suppliers. Other towns which had adopted building caps were visited and assessed to learn from their experiences. The final assessment included a discussion of the time value of money, the countdown in years to total buildout, the real estate tax impact, economic loss from reduced housing, versus gain from fewer demands on many outdated infrastructure elements. Also included in the study was the impact on varying the type of construction including remodels, tear-downs, and renovations, as well as the impact on the type of product, including market rate and affordable housing. A final recommendation for a phased-in approach was suggested and adopted by the Town of Barnstable.
Port of New Bedford, Benefit/Cost Analysis of Navigational Dredging
New Bedford Harbor Development Commission
FXM assessed possible direct, indirect, and induced economic and tax effects of dredging the navigational channel in New Bedford/ Fairhaven Harbor. Analyses included projections of potential cargo vessel and large cruise ship callings, relationships between channel depths and fishing and other vessel users of the port, potential business sales and jobs created for local maritime and seafood industries and integrated logistics/wholesaling firms, and the indirect and induced effects of expanded economic activity in the New Bedford, regional, and state economies. FXM’s analysis showed that – in addition to creating or sustaining new jobs and business sales -- the Commonwealth of Massachusetts would recoup its investment in dredging within several years (via net new income and sales taxes), and as a consequence the State expended over $10 million in the dredging project.
Fall River State Pier Redevelopment
Massachusetts Seaport Advisory Council and City of Fall River, Massachusetts
As part of a consulting team headed by Bermello Ajamil & Partners (Miami, FL), FXM conducted a benefit/cost analysis of redevelopment options for the State Pier in Fall River. The study involved assessment of market demand, including ocean freight, cruise ship callings, excursion vessels, and mixed-use office, commercial, and meeting space; concept and design options, including construction cost estimates; and an economic benefit and cost assessment, addressing direct, indirect, and induced effects on business sales, jobs, and taxes within Fall River and the state overall. FXM’s responsibilities included the market demand estimates for ocean freight and excursion vessels, and the technical analysis of economic and fiscal benefits and costs. The Commonwealth of Massachusetts has pledged to spend up to $18 million in reconstruction and expansion of State Pier in Fall River, as part of the state’s Seaport Bond Initiative.
Economic Impacts of Golf Course Operations
The National Golf Foundation
FXM Associates conducted an analysis to estimate the direct, indirect, and induced economic impacts of golf course operations nationwide on the U.S. economy, including effects on business output (sales), employment, wages, value added, and federal/state/local tax revenues. The final report included discussion of economic impact assessment methods; profiles of typical municipal, daily fee, and private course operations; case study examples of the economic and fiscal impacts of specific courses; and a how-to workbook for golf industry associations, course operators, and developers to guide their evaluation of economic impacts on local communities and regions. Subsequent to this assignment, FXM assisted NGF in separate studies of the economic effects of the golf industry in Southern California, Arizona, Minnesota, Massachusetts, and Pennsylvania.
MacMillan Pier Economic and Financial Assessment
Massachusetts Development Finance Agency
FXM Associates assessed the economic impacts attributable to users of the public pier in Provincetown, Massachusetts, and analyzed the financial consequences of existing and prospective new pier operations. FXM’s analysis showed that users of MacMillan Pier -- including whale watch and charter vessels, ferry service to Boston, commercial fishing, and the pirate ship Whydah Museum -- generated over $26 million in lodging, restaurant, gift shop, and other business sales, and accounted for over 600 full- and part-time jobs. These were significant effects within the Provincetown and outer Cape Cod economy. The evaluation also indicated that a properly reconstructed and managed pier facility could generate net operating income and contribute additional economic benefits within the regional economy. MacMillan Pier’s reconstruction was subsequently funded ($18 million) and the facility has been successfully operated since reconstruction.
Hyannis Freight Economic Impact Study
Woods Hole, Martha’s Vineyard & Nantucket Steamship Authority
FXM analyzed a shipping survey of all freight to and from Nantucket and Martha’s Vineyard to determine the type and value of freight originating in Hyannis. Of particular interest was identifying what products and supplies were purchased from businesses in Hyannis as a means of measuring the economic value of island freight relative to Hyannis’s businesses. Overall amounts of wholesale goods and jobs supported were derived from the data and summarized to reflect the economic significance of the Steamship Authority’s services in and out of Hyannis.
Fiscal and Economic Effects of a Proposed Major Retirement Community
Brandt Point Corporation and the Town of Mattapoisett, Massachusetts
FXM completed an in-depth assessment of the potential fiscal and economic effects of a proposed 450-unit retirement community in the Town of Mattapoisett. At full buildout, the project would add nearly 20 percent to the current town-wide housing inventory. FXM analyzed 10 years of historical data on municipal revenues and costs, by line item category; prepared independent forecasts of population by age cohort and number of school age children for the town overall; assessed the effects of comparable projects in other communities; and conducted extensive interviews with municipal and school department officials to assess capacity constraints and the potential marginal costs of new development on water, sewer, roadway, police, fire, and school infrastructure as well as operating capabilities and budgets. Copies of FXM’s report were distributed to over 400 town residents, and the methodology and findings discussed at a major public hearing and Special Town Meeting.
Trout Brook Valley Golf Club and Residences, Easton, Connecticut
National Fairways
FXM Associates provided the developers of an exclusive housing and golf development an independent financial analysis of the project’s impact on the Town of Easton. FXM investigated all municipal service income and expense to the town, examined statewide and local trends to determine prospective school enrollment and costs per student, assessed market feasibility by looking at comparable developments for both upscale housing and golf courses, and evaluated marginal impacts on the town that might drive future capital or infrastructure needs. FXM provided a highly detailed summary and spreadsheets listing all income sources and expenses over a one- to ten-year time frame for the developer’s use in their approval process with the town.