“Things which matter most must never be at the mercy of things which matter least.” – Johann Wolfgang von Goethe
Pinnacle Economics is nationally recognized for our theoretically sound, data-driven, state-of-the art approaches for measuring economic and fiscal impacts using the IMPLAN economic impact modeling software. At Pinnacle, all of our projects uniquely reflect our commitment to our core values, a solid understanding of the input-output modeling framework, and the use of state-of-the art analytical techniques to produce the most reliable estimate of impacts. This is the foundation for our 25 years of success, and we are proud of this.
Engaging in activities that are not aligned with closely held values leads to suboptimal outcomes. At Pinnacle, every project embraces our commitment to teamwork and cooperation, honesty and accuracy, and hard work. We work with you, not for you. We will champion your project because we believe in you and the analysis. We will roll up our sleeves to make sure that the analysis is done right, on time, and within budget.
Our solid understanding of the input-output (I-O) modeling framework forms the foundation of every analysis. We know how to take full advantage of the vast array of economic data and relationships embedded in the I-O modeling framework. We also know of its structural limitations. This has allowed us to take on projects that other consultants could not. For example, we have constructed custom input-output models of foreign economies—including Spain’s Canary Islands—and have conducted analyses for unique new programs and technologies that are not defined by generic industries or spending patterns. We have also turned away projects that were not generally suited for impact analysis. In either instance, our honest assessment of what could and could not be accomplished was appreciated.
At Pinnacle, we do not employ simple, generic multipliers or do back-of-the-envelope calculations. Instead, our analyses are data-driven and our analytical techniques are state of the art. We research and compile the very best data. We work closely with clients to gather available data, and to fully understand the project and their intended audience(s). We use surveys and interviews to conduct primary research, and we know where to find the highest quality data from private and public sources.
We then use sophisticated analytical techniques and the IMPLAN modeling software to measure additional direct impacts, as well as the full array of secondary impacts. We know the difference between gross and net impacts, and how to explain them to any audience. We know how to build custom production functions for unique industries and projects (called “analysis-by-parts”) and how to measure important geographic spillover effects using advanced multi-regional, input-output (“MRIO”) modeling techniques. We also know how to augment the IMPLAN model econometrically or with additional data to isolate and quantify impacts on minority and women-owned businesses (“M&WBE”), union trades, state and local taxing jurisdictions, business location decisions, and more.
We are nationally recognized experts with the IMPLAN modeling software. Alec has been using IMPLAN since 1995 and has directed, conducted, and/or authored well over 500 economic impact projects. The IMPLAN modeling software is the gold standard in economic impact analysis. In fact, the United States Department of Agriculture recognized the IMPLAN modeling framework as “one of the most credible regional impact models used for regional economic impact analysis” and, following a review by experts from seven USDA agencies, selected IMPLAN as its analysis framework for monitoring job creation associated with the American Recovery and Reinvestment Act of 2009.
Our clients include businesses, nonprofit organizations, and government agencies. Our project history includes economic, fiscal, and socioeconomic impact analyses across a wide range of topics, including:
- Local, state, and federal government programs and policies in natural resources, education, health care, transportation, land use, economic development, pollution control, climate change, green industries, and local food production.
- The full range of both renewable and conventional energy resources and technologies such as wind, solar, wave, geothermal, hydroelectric, bio-refineries, energy efficiency programs, green industries and building practices, combined-cycle power plants, natural gas pipelines, power transmission lines, and more.
- Colleges, universities, and other educational institutions such as medical research, charter schools, and state educational systems.
- Tourism, cultural, and recreational projects and activities such as convention centers, hotels, museums, boardwalks, major and minor league sports, ski resorts, recreational fishing, whitewater rafting, and more.
- Construction and operation of large and complex infrastructure projects, as well as a broad range of commercial and industrial projects such as highway expansion and tolling projects, data centers, downtown revitalization programs, multi-family construction projects, bond-financed school modernization programs, multi-use commercial developments, and more.
- Corporate operations and capital spending plans for Nike, Intel, Cambia Health Solutions, The Standard Insurance Company, ESCO, and more.
- Nonprofit organizations in biosciences, software and technology, arts and culture, hospitals and health systems, senior care, drug and alcohol abuse, rivers, parks, and recreational areas.
- Regional quantitative and/or cluster analyses of Portland and Gresham, Oregon; New York City and its constituent boroughs; the City of Detroit; Massachusetts and four regional economies; and the City of Pittsburgh.
- Grant programs including the New Market Tax Credit (“NMTC”) program, the USCIS Immigrant Investor (or “EB-5”) program, American Recovery and Reinvestment Act (“ARRA”), Transportation Investment Generating Economic Recovery (“TIGER”) competitive grant program, and numerous other federal, state, and local grant programs.