Table of Contents INTRODUCTION .............................................................................................................................. 2 ECONOMIC IMPACT FINDINGS ...................................................................................................... 3 TOTAL ECONOMIC IMPACT (STARTUPS & SMALL BUSINESSES) ................................................................. 3 JUMPSTART’S THREE PRIMARY TYPES OF WORK ........................................................................................ 5 TECH STARTUPS & SMALL BUSINESSES ........................................................................................................ 7
ABOUT JUMPSTART ...................................................................................................................... 8 ABOUT THIS REPORT ..................................................................................................................12 WHAT IS AN ECONOMIC IMPACT ANALYSIS? .............................................................................................. 12 WHY DOES JUMPSTART COMMISSION AN ECONOMIC IMPACT ANALYSIS? ............................................ 13 DATA AND ANALYSIS .................................................................................................................................... 13
STUDY METHODOLOGY ..............................................................................................................16 TERMINOLOGY ................................................................................................................................................ 16 ABOUT IMPLAN............................................................................................................................................ 18 ABOUT SILVERLODE CONSULTING ............................................................................................................... 18
1
INTRODUCTION │ JUMPSTART 2020 ABRIDGED ECONOMIC IMPACT REPORT
Introduction JumpStart is a Cleveland-based venture development organization that helps entrepreneurs start and grow companies. JumpStart’s work takes three primary forms:
Providing Capital – JumpStart invests in tech entrepreneurs throughout the state of Ohio and provides capital options, including loans and grants, to small businesses in Northern Ohio.
Delivering Services – JumpStart provides business assistance services to help highpotential companies (both tech startups and main street small businesses) navigate challenges, drive growth and create jobs.
Acting as a Strategic Partner – JumpStart works on behalf of private, public, and philanthropic funders deploying grants, managing collaborations and administering initiatives to achieve mutual goals.
Silverlode Consulting was engaged by JumpStart Inc. to estimate the economic and fiscal impact of this work during calendar year 2020. The COVID-19 pandemic took place during the entirety of this study period and created significant economic challenges for small businesses. JumpStart’s COVID-19 related initiatives are highlighted in this report. IMPLAN, one of the most widely used and accepted methodologies for estimating regional economic impacts, was used to complete the analysis. Data for the study was provided to Silverlode via surveys of companies who have been assisted by JumpStart and its Partners. These surveys were administered by JumpStart and its Partners. The companies surveyed provided the employment, payroll, revenue, and other operational data necessary to prepare this analysis. This report presents economic impacts from three perspectives:
Total Economic Impact (Startups and Small Businesses) – The economic impact of the combined efforts of JumpStart and its Partners and of JumpStart alone.
JumpStart’s Three Primary Types of Work – The economic impact of companies as delineated by: JumpStart Capital, JumpStart Services, and the work of JumpStart’s collaborative partners, which is funded through one of JumpStart’s many strategic partnerships.
Tech Startups & Small Businesses – The total economic impact of tech startups and of traditional small businesses served by JumpStart and its Partners. 2
ECONOMIC IMPACT FINDINGS │ JUMPSTART 2020 ABRIDGED ECONOMIC IMPACT REPORT
Economic Impact Findings For more detailed data, see the full 2020 Economic and Fiscal Impact Report, which includes full analysis of the impact of companies served by JumpStart and its collaborative Partners as represented by 105 different independent economic impact models.
Total Economic Impact (Startups & Small Businesses) At the highest level, this analysis demonstrates Startups and Small Businesses served by JumpStart and its Partners have an immense economic and fiscal impact on the state of Ohio with $1.2 billion of economic activity generated in 2020. The impact in New York, while smaller in scale, is also significant with $109 million of economic activity generated in 2020.
Total Economic Impact (JumpStart + Partners) The following table summarizes the estimated economic impact of surveyed companies assisted by JumpStart and its Partners in both Ohio and New York. Startups and Small Businesses assisted by JumpStart and its Partners in 2020 directly and indirectly supported an estimated $1.2 billion of economic output, approximately $702 million of labor income, and close to 6,682 households in the States of Ohio and New York.
JumpStart + Partners Total Work `
$1.2 billion
$702 million
$146 million
of economic output
of labor income
of federal taxes
10,780
6,682
$80 million
Jobs
households supported
of state and local taxes
Since 2010, the cumulative work of JumpStart and its Partners has directly and indirectly supported more than $9.1 billion of total economic output 1. In addition to generating jobs and taxes for communities, technology companies supported by JumpStart and its Partners held 934 patents and had 1,083 provisional patents and patents pending in 2020.
1
JumpStart provided the economic impact estimates for 2010 through 2017.
3
ECONOMIC IMPACT FINDINGS │ JUMPSTART 2020 ABRIDGED ECONOMIC IMPACT REPORT
Total Economic Impact (JumpStart Only) The following table summarizes the estimated economic impact of startups and small businesses funded and/or assisted directly by JumpStart, removing data from any companies assisted solely by collaborative partner organizations. Companies served by JumpStart directly and indirectly supported an estimated $840 million of economic output, approximately $458 million of labor income, and nearly 4,586 households in Ohio in 2020.
JumpStart Total Work `
$840 million
$458 million
$92 million
of economic output
of labor income
of federal taxes
7,399
4,586
$47 million
Jobs
households supported
of state and local taxes
4
ECONOMIC IMPACT FINDINGS │ JUMPSTART 2020 ABRIDGED ECONOMIC IMPACT REPORT
JumpStart’s Three Primary Types of Work JumpStart defines its work for the communities it serves in three primary categories—capital, services and partnerships with collaborative organizations (funded through one of JumpStart’s many strategic initiatives).
Total Impact of JumpStart Capital The following table summarizes the estimated economic impact of technology companies funded directly by one of JumpStart’s venture capital funds. JumpStart’s active portfolio companies in 2020 directly and indirectly supported an estimated $476 million of economic output, approximately $252 million of labor income, and nearly 2,112 households in Ohio.
JumpStart Funded Companies `
$476 million
$252 million
$51 million
of economic output
of labor income
of federal taxes
3,407
2,112
$25 million
jobs
households supported
of state and local taxes
Total Impact of JumpStart Services The following table summarizes the estimated economic impact of companies (both tech startups and traditional small businesses) receiving business assistance services directly from JumpStart. Companies receiving technical assistance by JumpStart supported an estimated $840 million of economic output, approximately $458 million of labor income, and close to 4,586 households in Ohio.
JumpStart Total Work `
$840 million
$458 million
$92 million
of economic output
of labor income
of federal taxes
7,399
4,586
$47 million
jobs
households supported
of state and local taxes 5
ECONOMIC IMPACT FINDINGS │ JUMPSTART 2020 ABRIDGED ECONOMIC IMPACT REPORT
Total Impact of JumpStart’s Collaborative Partners The following table summarizes the estimated economic impact of companies (both tech startups and traditional small businesses) receiving funding and/or business assistance from JumpStart’s collaborative partners, excluding those companies assisted solely by JumpStart. Technology companies receiving technical assistance from JumpStart’s Partners in 2020 directly and indirectly supported an estimated $813 million of economic output, approximately $471 million of labor income, and close to 4,130 households in the States of Ohio and New York.
JumpStart Collaborative Partner Work `
$813 million
$471 million
$98 million
of economic output
of labor income
of federal taxes
6,662
4,130
$53 million
jobs
households supported
of state and local taxes
6
ECONOMIC IMPACT FINDINGS │ JUMPSTART 2020 ABRIDGED ECONOMIC IMPACT REPORT
Tech Startups & Small Businesses JumpStart and its various partners work with a combination of tech-based startups and small businesses. To help meet the specific requirements and expectations of various organizational funders, these models divide this work into separate categories.
Total Impact of Tech Startups The following table summarizes the estimated economic impact of all tech-focused companies assisted by JumpStart and its Partners through the Entrepreneurial Service Provider (ESP) program in Ohio. Technology companies receiving technical assistance from JumpStart and its Partners in 2020 directly and indirectly supported an estimated $882 million of economic output, approximately $490 million of labor income, and close to 4,454 households in Ohio.
Tech ESP Total Work `
$882 million
$490 million
$99 million
of economic output
of labor income
of federal taxes
7,186
4,454
$49 million
jobs
households supported
of state and local taxes
Total Impact of Small Businesses The following table summarizes the estimated economic impact of all traditional small businesses assisted by JumpStart and its Partners in Ohio and New York. Small businesses receiving technical assistance from JumpStart and its Partners in 2020 directly and indirectly supported an estimated $240 million of economic output, close to $139 million of labor income, and an estimated 1,863 households in the States of Ohio and New York in 2020.
Small Business Total Work `
$240 million
$139 million
$28 million
of economic output
of labor income
of federal taxes
3,005
1,863
$16 million
jobs
households supported
of state and local taxes 7
ABOUT JUMPSTART │ JUMPSTART 2020 ABRIDGED ECONOMIC IMPACT REPORT
About JumpStart JumpStart Services and Funding JumpStart is a venture development organization combining the principles of venture capital and economic development to help entrepreneurs start and grow companies. JumpStart helps entrepreneurs by providing access to capital and business assistance and by serving as a valueadded partner for other entrepreneurial focused organizations. The Cleveland Foundation, KeyBank, the Burton D. Morgan Foundation, ProMedica and the Ohio Third Frontier provide key support for JumpStart’s operations. JumpStart provides business assistance to entrepreneurs and small businesses, access to capital for startups through equity investments, partner services including grantmaking and collaborations for third party funders, and strategic initiatives for community stakeholders.
JumpStart and its Partners JumpStart acts as an investor and a direct service provider to high-potential companies. Through its strategic partnerships with funders, JumpStart also helps support many additional collaborative partners across Ohio and New York in their work helping companies. Technology companies are served directly by JumpStart and/or one of the collaborative partners who make up the Northeast Ohio Startup Network 2 and the Northwest Ohio Startup Network. 3 This closely connected network of support organizations is funded in part by Ohio Third Frontier and organized under the Entrepreneurial Services Provider (ESP) Program to support the 21 counties in the Northeast Ohio region as well as the 18 counties of Northwest Ohio. Small businesses seeking assistance are served directly by JumpStart’s Core City: Cleveland program and its Northwest Ohio Small Business Support Services. They are also served through other collaborative partners JumpStart supports through the Cleveland Business Growth Collaborative, Toledo Business Growth Collaborative and the KeyBank Business Boost & Build program. The KeyBank Business Boost & Build program works in four regions across New York (Albany, Buffalo, Rochester, and Syracuse) and also includes The KeyBank Center for
Northeast Ohio ESP Network Partners include Bounce Innovation Hub, Braintree Business Development Center,
2
BRITE Energy Innovators, Great Lakes Innovation and Development Enterprise (GLIDE), The Manufacturing Advocacy & Growth Network (MAGNET), Northeast Ohio Medical University (NEOMED), Ohio Aerospace Institute (OAI), University of Akron Research Foundation (UARF), and Youngstown Business Incubator (YBI). Northwest Ohio ESP Network Partners include the University of Toledo (UT), ProMedica, and Mercy Health.
3
8
ABOUT JUMPSTART │ JUMPSTART 2020 ABRIDGED ECONOMIC IMPACT REPORT
Technology, Innovation and Inclusive Growth, which works across Ohio (the center's work in Akron, Toledo, Dayton, Columbus and Cincinnati are included in this report).
JumpStart Evolution JumpStart was founded in 2004 with a mission to accelerate the growth of startups through venture investing and technical assistance. Today, JumpStart is focused on the economic transformation of communities. This evolution in mission intersects with numerous aspects of the organization’s work, including:
Work with Traditional Small Businesses – JumpStart has expanded from focusing solely on helping tech startups to helping businesses in non-tech sectors. Section four of this report is dedicated to quantifying the impact of this work with small businesses outside the tech space.
Partner Work – JumpStart works as both individually and as an ecosystem partner, serving as a value-adding partner for third-party funders to deploy grants, manage collaborations, and help administer economic development and workforce initiatives. JumpStart deployed approximately $8.1 million in grant funding to 67 organizations on behalf of its partners and funders in 2020 alone. Today, the organization manages the Northeast Ohio and Northwest Ohio Startup Networks (tech-focused) on behalf of the State of Ohio and also supports many additional collaborative partners working with small businesses through the KeyBank Business Boost & Build program.
Place-Based Assistance – JumpStart has always worked across Northeast Ohio and invests across the state from specific venture capital funds. The organization opened an office in Toledo in 2020 to serve entrepreneurs in Northwest Ohio. JumpStart has also concentrated specific programs on targeted local communities including the City of Cleveland, communities in upstate New York, and disconnected neighborhoods in communities across Ohio including Dayton, Cincinnati and Akron.
Diversity and Inclusion – JumpStart has an intentional focus on diversity and inclusion in all of its work, from the composition of its own staff and board to the companies it funds and supports. In 2020, JumpStart engaged 1,385 companies, 56% of which were led by women and 49% of which were led by Black or Latinx entrepreneurs. JumpStart and its Partners collectively engaged 2,073 companies, 49% of which were led by women and 39% of which were led by Black or Latinx entrepreneurs.
9
ABOUT JUMPSTART │ JUMPSTART 2020 ABRIDGED ECONOMIC IMPACT REPORT
JumpStart AND THE COVID-19 PANDEMIC 2020 was certainly a year unlike any other and the total impact of COVID-19 on startups and small businesses is still unknown. In the early months of the pandemic, JumpStart quickly pivoted operations to prioritize stabilization support for startups and small businesses in the wake of the pandemic. JumpStart and its Partners quickly mobilized to deliver immediate relief funding and technical assistance to entrepreneurs throughout its footprint, including:
Deploying over $2.5M in relief funding to startups and small businesses in the form of equity investments, loans and grants.
Providing one-on-one business assistance to over 576 startups and 651 small businesses and delivering free webinar events to help guide startups and small businesses through challenges from keeping customers engaged to understanding Paycheck Protection Program (PPP) loans.
Connecting small businesses to state and federal unemployment resources.
Connecting small businesses to local business resources including Cuyahoga County’s Small Business Resource Center and Greater Cleveland Partnership.
While the long-term impact of COVID19 is still uncertain for many startups and small businesses, the majority of companies engaging with JumpStart and its Partners remain optimistic about the survival of their business. Many of these businesses moved quickly to pivot operations during critical points of the pandemic, allowing for stabilization, a longer financial runway and in some cases growth. JumpStart helped hundreds of startups and small businesses navigate the economic challenges of the pandemic.
10
ABOUT JUMPSTART │ JUMPSTART 2020 ABRIDGED ECONOMIC IMPACT REPORT
Individual Company Growth in the Pandemic Small businesses across the U.S. suffered tremendous economic loses in 2020 from the economic challenges of the COVID-19 pandemic. Companies which were assisted by JumpStart and its Partners were, however, largely able to stabilize and in some cases grow in 2020. The following insights are from an analysis of survey data from companies which responded to JumpStart surveys and submitted modelable data in both 2019 and 2020.
Tech ESP Total Work – Ohio – Companies supported by JumpStart and its Partners’ Tech ESP services and funding in Ohio only experienced a 5% decrease in jobs from 2019 to 2020. Excluding contractors, these 189 companies experienced a 9% increase in jobs. Payroll for the Tech ESP companies grew 9% and sales grew 4%.
Tech ESP Total Work – Northeast Ohio - Companies supported by JumpStart and its Partners’ Tech ESP services and funding in Northeast Ohio experienced a 2% increase in jobs from 2019 to 2020. Excluding contractors, these 158 companies experienced an 11% increase in jobs. Payroll for the Tech ESP companies grew 12% and sales grew 9%.
11
ABOUT THIS REPORT │ JUMPSTART 2020 ABRIDGED ECONOMIC IMPACT REPORT
About this Report What is an Economic Impact Analysis? Economic impact analysis provides a comprehensive look at how an organization, industry, or event affects the economy of a region. All economic activities create “ripples” in the economy that are referred to as indirect and induced effects. These ripple effects are quantified by using an analysis known as Regional Input-Output Analysis. Economic and fiscal impacts can be divided into component parts, which are referred to as Direct, Indirect, and Induced. The following copy and graphic describe the economic ripple effect of JumpStart and its Partners’ activities. These economic impacts are more thoroughly explained in the Study Methodology section of this report. •
Direct – Activity attributable to companies supported by JumpStart and its Partners (employees, their associated payroll, etc.) as reported by the companies. In this report, direct jobs include both those employed and employed as contractors by the companies served by JumpStart and its Partners.
•
Indirect – The economic activity of the entities that provide goods and services to the companies supported by JumpStart and its Partners, such as suppliers and service providers.
•
Induced – Activity arising from employee (both Direct and Indirect) spending.
12
ABOUT THIS REPORT │ JUMPSTART 2020 ABRIDGED ECONOMIC IMPACT REPORT
To further explain this ripple effect, imagine an entrepreneur who owns a fitness studio. She joins JumpStart’s Core City: Cleveland Impact program and works with JumpStart mentors to develop her business plan and rebrand her business. The fitness studio subsequently experiences an increase in sales and hires new employees. The entrepreneur’s economic activity (e.g., jobs, payroll, revenue, etc.) are direct impacts. If the fitness studio purchases new exercise bikes, the jobs and revenue associated with producing, delivering, etc. the bikes are indirect impacts of the company supported by JumpStart’s services. When the employees of both the fitness studio and the bike manufacturer use their paychecks to buy groceries, this household spending is the induced impacts from the company supported by JumpStart’s services.
Why Does JumpStart Commission an Economic Impact Analysis? The purpose of this economic impact analysis is to quantify the impact of the services and funding provided by JumpStart and its Partners and to communicate this impact to investors, Partners, companies, government representatives, JumpStart employees, and the general public. In essence, this report answers the question: How do startups and small businesses help transform communities? Previous economic impact studies captured the impact of JumpStart and its Partners within their original scope of providing capital and services solely for tech entrepreneurs. This study and the two previous studies include the organization’s recent and notable expansions in programming, geographic reach, and partnerships—largely in support of expanding to service more small businesses.
Data and Analysis Silverlode Consulting was engaged by JumpStart to estimate the economic and fiscal impact of the companies served by JumpStart and its Partners during calendar year 2020.
Survey Data JumpStart administered surveys to all companies who received services and funding from JumpStart and/or its Partners as part of the Northeast Ohio and Northwest Ohio Entrepreneurial Services Provider (ESP) programs or the programs focused on small businesses, including JumpStart’s Core City: Cleveland, Northwest Ohio Small Business Support Services, and the Business Growth Collaborative. Grantees under the KeyBank Business Boost & Build: NY and The KeyBank Center for Technology, Innovation and Inclusive Growth collected data from clients served by those programs and reported the data to JumpStart. All of the following criteria (as reported by the companies) were required for a company to be 13
ABOUT THIS REPORT │ JUMPSTART 2020 ABRIDGED ECONOMIC IMPACT REPORT
included in the modeling for this report: 1. A valid NAICS code was provided (The North American Industry Classification System is the standard used by Federal statistical agencies to classify companies according to type of economic activity). 2. At least one job was reported for 2020. 3. At least one of the following was provided: 2020 payroll or sales. Of the 1,348 companies which responded to the surveys, 708 (53%) provided sufficient information to be included in the economic impact modeling. This is expected, as almost all the companies without modelable data are very young and do not yet have direct jobs, payroll, and/or sales to report. JumpStart will continue to service and survey these companies to measure their growth over time. These companies will be included in future economic impact analyses and should eventually be included in future economic models as they grow and create direct jobs, payroll, and revenues.
IMPLAN IMPLAN (IMpacts for PLANning), one of the most well-respected and widely used methodologies for assessing regional economic impacts, was used to estimate the annual impact of the operating activities for companies served by JumpStart and its Partners. 2019 IMPLAN data, the most current data available at the time, was used for this study.
Data Quality JumpStart administered surveys to all companies who received services and funding from JumpStart and its Partners as part of the Northeast Ohio and Northwest Ohio Entrepreneurial Services Provider (ESP) programs or the programs focused on small businesses, including JumpStart’s Core City: Cleveland, Northwest Ohio Small Business Support Services, and the Business Growth Collaborative. Data was collected from surveys administered electronically to program participants by JumpStart using Qualtrics. Grantees under the KeyBank Business Boost & Build: NY and The KeyBank Center for Technology, Innovation and Inclusive Growth collected data from clients served by those programs and reported the data to JumpStart. As a result, the available survey data varied significantly by program. For example, in the instances of the Northwest Ohio Small Business Support Services programs, very little information about the payroll of the participating companies was available. As these programs mature, it is anticipated that the data will improve. In instances where a company included enough information to be included in IMPLAN modeling, but provided incomplete data (e.g., job count, payroll, or revenue was missing), and where data
14
ABOUT THIS REPORT │ JUMPSTART 2020 ABRIDGED ECONOMIC IMPACT REPORT
for companies consolidated by industry had incomplete data, the missing data was estimated by IMPLAN using industry averages.
Additional information can be found in the unabridged version of the 2020 Economic and Fiscal Impact Report. This unabridged report includes an analysis of the impact of companies served by JumpStart and its collaborative Partners via 105 different “slices,” each representing independent economic impact models.
15
STUDY METHODOLOGY │ JUMPSTART 2020 ABRIDGED ECONOMIC IMPACT REPORT
Study Methodology Terminology A Direct effect describes an initial, or first-round change in the economy and is the starting point for economic impact analysis. Changes in an economy create “ripples” of economic activity throughout the region being analyzed, with the ripples being described as Indirect and Induced Effects. A positive Direct effect causes increased purchases within the economy being modeled, as well as “leakage” of economic activity out of the economy being studied in the form of imports into the economy from other areas outside the economy. Generally speaking, Direct describes activity attributable to the economic activity being modeled (in this case the operations of companies served by JumpStart and its Partners). In this report, direct jobs include both those employed and employed as contractors by the companies served by JumpStart and its Partners. Direct jobs are quantified based on survey response data provided by companies. Indirect effects represent changes in the industries that provide goods and services to the economic activity being modeled (e.g., suppliers, service providers, etc.). Indirect effects occur in a repeating cycle, but diminish in each round as economic activity “leaks” from the region being modeled. Indirect effects cease when the last dollar of economic activity leaks from the economy being studied. Indirect effects are estimated using IMPLAN. Induced effects represent the impact of changes in household spending resulting from the Direct and Indirect effects. Like Indirect effects, Induced effects occur in repeating cycles, but diminish in each round as economic activity “leaks” from the region being modeled. Induced effects cease when the last dollar of economic activity leaks from the economy being studied. Induced effects are estimated using IMPLAN. For ease of presentation, in this report, Induced effects are combined with Indirect effects and referred to simply as Indirect. Total Impact refers to the final cumulative result of all rounds of Direct, Indirect and Induced economic activity.
16
STUDY METHODOLOGY │ JUMPSTART 2020 ABRIDGED ECONOMIC IMPACT REPORT
The table below provides a reference of definitions for the items included in the summary tables and infographics of this report. Direct
Indirect and Induced
Economic Output
The total value of goods and services produced by the activity being modeled. Output is roughly equivalent to sales or revenue associated with the Direct activity.
IMPLAN estimate of the total value of goods and services produced by Indirect and Induced economic activity. Output often represents sales or revenue associated with this activity.
Jobs
Jobs directly engaged in the activity being analyzed.
IMPLAN estimate of the number of jobs supported by the purchase of goods and services by the activity being modeled (Indirect) as well as by changes in household spending (Induced).
Labor Income (Earnings)
Actual wages and benefits associated with Direct jobs. Earnings of contractors were estimated based on the earnings of each company’s employees.
IMPLAN estimate of the total labor income (wages, benefits, and proprietor income) associated with the Indirect and Induced economic activity.
Households Supported
IMPLAN estimate of the number of households supported by the economic activity being analyzed.
IMPLAN estimate of the number of households supported by Indirect and induced economic activity.
State and Local Taxes
IMPLAN estimate of all taxes paid to state and local units of government as a direct result of the economic activity being analyzed.
IMPLAN estimate of all taxes paid to state and local units of government due to Indirect and Induced economic activity.
Federal Taxes
IMPLAN estimate of all taxes paid to the Federal government as a direct result of the economic activity being analyzed.
IMPLAN estimate of all taxes paid to the Federal government due to Indirect and Induced economic activity.
17
STUDY METHODOLOGY │ JUMPSTART 2020 ABRIDGED ECONOMIC IMPACT REPORT
About IMPLAN Portions of this analysis were completed using the IMPLAN (IMpact Analysis for PLANning) economic impact modeling system. IMPLAN is a general input-output model that was originally developed by the U.S. Forest Service in the 1970s and is now one of the most respected and widely used approaches to regional economic impact analysis. IMPLAN is used by more than 1,000 universities, government agencies, and consultants to estimate the economic and fiscal impacts of investments and/or changes in one or more industries. Data underlying the IMPLAN model is derived from industry surveys conducted periodically by the U.S. Bureau of Economic Analysis (BEA), as well as other sources.
About Silverlode Consulting Silverlode Consulting was founded in 2002 by two leaders of EY’s and PwC’s consulting practices. As a national leader in the field of economic impact analysis, we have helped hundreds of organizations, ranging from non-profit arts groups to multi-national corporations, to measure their impacts on their communities and communicate those impacts to their stakeholders. By meticulously estimating and effectively communicating the direct, indirect, and induced jobs, earnings, taxes and other impacts of projects, the presence of an organization, or an investment in a community, our work has helped clients to gain approvals, secure funding, and positively shift public opinion. More information about our firm and our work in the area of economic impact analysis can be found on our website at www.silverlodeconsulting.com.
18
