The City of Hamilton, Ohio used Silverlode’s economic impact study to understand how constructing a railroad overpass would potentially improve development opportunities and the local economy.
To diversify its industries and strengthen its economic base, the City of Hamilton, Ohio engaged Silverlode to conduct a target industry analysis and economic impact analyses to help identify appropriate industries to focus its economic development efforts.
Silverlode conducted a target industry analysis that evaluated available real estate, labor costs and availability, utility costs, and quality of life – all crucial factors for companies considering locations for new facilities. Silverlode evaluated economic indicators, such as industry concentration and industry growth projections, to develop a prioritized list of high-performing industry sectors that could benefit from Hamilton’s location and attributes. The report also included a series of detailed marketing strategies to focus and enhance the City’s business attraction efforts.
Silverlode identified geographic spheres of influence, conducted a demographic assessment and conducted a business establishment trends analysis to understand how potential new business investment could shape the local economy. A multitude of development scenarios were modelled with the consideration of projected land uses, development sizes, and estimated absorption rates to understand potential employment and tax impacts. The economic impact study of the overall project helped to identify the industries that had the greatest potential to positively impact the City’s economy.