Cultivate Smart Economic Growth and Optimize Revenue
Agencies charged with promoting economic development must manage a number of variables: developing incentive packages to attract business; building and maintaining critical infrastructure; securing financing for projects at the most favorable terms; and providing transparency and accountability to stakeholders; all while being responsible stewards of public funds and the environment. This already formidable challenge has been made more difficult by the economic recession and increased competition among states and communities to attract companies. Making the right decisions to promote long-term growth has never been harder.
Crowe Horwath LLP has been a trusted adviser to public sector agencies for 40 years and has an in-depth understanding of the issues that economic development agencies face. Our professionals can help guide your organization through strategic planning to clarify the rationale for economic development, giving leaders the tools, processes, and information to make the best decisions.
Crowe offers agencies a unique combination of industry best practices, a proven track record for delivering results, and cross functional expertise in accounting, finance, risk management, information technology (IT), compliance and reporting, and grant management, among others. Our team works collaboratively with government leaders to uncover issues and recommend innovative solutions. Crowe’s economic development solutions for governments include:
Financing for development projects. Crowe has worked with hundreds of communities to evaluate financing sources and secure the funds they need. We have experience in developing alternative funding sources for various capital projects, like tax increment financing (TIF) in districts, and have also helped agencies win federal grants.
Attracting business. Governments that forge relationships with the private sector can undertake more ambitious projects and tap into new sources of revenue to aid development. Crowe helps governmental officials take a more proactive approach to working with the private sector, including identifying desirable target companies, analyzing the proper mix and level of incentives, and determining the scope and scale of these endeavors.
Grant management. To assist clients in managing and monitoring the use of federal grant funds and reduce the risk of noncompliance, Crowe constantly tracks changing regulations, interprets new guidance, and implements best practices for controls and procedures in order to mitigate the risk of misused funds, waste, and potential violations.
Economic impact assessments. From reviewing land management options to considering the fiscal impact of gaming facilities and other proposed developments, Crowe’s short- and long-term economic impact assessments can help facilitate better strategy. Crowe analyzes projected employment, economic output, and earnings to identify the opportunities and risks to your community.
Strategy and planning. Crowe works with organizations to implement growth initiatives that will meet their community’s immediate needs and promote long-term economic development. By taking a comprehensive perspective, monitoring industry developments and trends, and helping agencies define their objectives, Crowe’s approach to strategic planning has helped communities experience robust growth and remain viable.
Green initiatives and sustainability. The renewed emphasis on environmental initiatives at the federal level represents an opportunity for agencies to gain access to funding for green initiatives. In addition, Crowe can help agencies identify opportunities for businesses in the areas of green construction, energy efficiency disclosure, and renewable energy technologies.