Economic Development Advisory Services
The mission and passion of Economic Development Advisory Services is to help communities create more prosperous and equitable economies. We offer strategies and tools that help our clients achieve higher-performing economies.
What EY can do for you
Through more than 25 years of experience working with 200+ communities, we believe that modern economic development strategies are most impactful when they are holistic and inclusive of the entire community. That begins with the planning process. Our approach to strategic planning emphasizes community engagement coupled with in-depth competitive evaluations and global market insights. During the process, we help prepare our clients to deploy the strategy and arm them with tools for seamless implementation. The end result is a community that supports business growth, has a stronger talent pipeline and experiences greater economic performance.
How can we create prosperous places in a world that’s changing by the day?
The EY mission is building a better working world. EDAS advances this mission through our commitment to helping communities create more prosperous and equitable economies.
The world is changing by the day. Our global network of resources not only helps EDAS’ team members stay current on trends, but it also lends insights to our clients that help them stay competitive and targeted in their approach.
Our team’s experience includes facilitating strategies for economic development organizations, chambers of commerce, nonprofits and government agencies in major US regions such as Atlanta, Charlotte, Cincinnati, Columbus, Houston, Jacksonville and Miami, as well as thriving midsize communities like Charleston, Chattanooga, Frisco, Jonesboro, Northwest Arkansas, Pflugerville, Provo, Roanoke, Spartanburg, West Palm Beach and many others.
Our services: from strategy through execution
All our services are custom-designed to be collaborative, inclusive and transparent. EDAS’ process engages stakeholders, evaluates economic trends, and provides global market insights to create a strategy tailored to each client. By working closely with community members and our client from planning through strategy implementation, we drive buy-in and position the final product for full adoption and a greater return on investment.
EDAS is positioned alongside Ernst & Young LLP Global Incentives, Innovation and Location Services practice, which provides our clients with site selection perspectives as needed.
We facilitate comprehensive economic development plans for communities seeking healthier economies and greater opportunities for their residents. Our planning processes include stakeholder engagement, competitive assessments, benchmarking, target audience identification, tactical action plans and metrics for monitoring progress. We also offer shorter-term economic recovery plans to help clients emerge from crises with stronger, more resilient economies.
We evaluate a community’s economic and demographic position across dozens of metrics to identify strengths and weaknesses that will be an integral part of the strategic planning process. Our analysis also benchmarks these metrics against peer communities, state and US averages to help clients better understand their competitive position in the current market.
We recognize the intimate relationship between the quality of a region’s talent pool and its success in economic development. Our labor shed analyses and talent alignment plans provide clients with a deep understanding of their workforce dynamics and action plans for creating a pipeline of talent to fuel economic growth. Through our research, we help employers and educators make decisions together.
Accessing funds to support the implementation of your economic development strategy is often critical to achieve results. We assist clients with identifying and obtaining funding through various programs such as Economic Development Administration grants and New Market Tax Credits or creating special taxing districts like TIFs to spur business investment.
Incentives often play a crucial role in the attraction and retention of businesses at the state and local level. Relying on our breadth of experience in the credits and incentives space, we work with our clients to evaluate the community’s current incentives portfolio for multiple sectors and determine how these incentives compare with those offered by peer communities. We also assist clients with analyzing potential changes to their current incentives, identifying opportunities for cost reduction and the estimated value of incentives packages for various projects.
Having a strong structure for economic development is essential to achieving results. We work with communities to evaluate their current models for economic development and offer advice for improving effectiveness. Our focus ranges from setting up volunteer platforms for strategy implementation to restructuring economic development initiatives.
Economic developers do important work in their communities, making them better places to grow and thrive, and it’s crucial that communities share their efforts with the world. The EY team is dedicated to helping you create a plan to inform and engage key audiences to make your community more competitive for businesses and talent. We help communities develop brands that are unique, authentic and highlight a community’s assets. Our marketing plans help spread the word of a community’s success and potential to key internal and external audiences.