RESI provides a vast array of economic and policy analysis services to a wide range of public and private clientele. Some of the core services provided by RESI include forecasting, economic and fiscal impact analysis, and technical writing.
Impact studies analyze the net financial impact of a proposed business on the greater economy and the government at the local and/or state level. Such studies may also analyze a business decision that has already been made to review its level of success or provide recommendations or modifications.
An example of a recently completed economic and fiscal impact analysis is the report examining the significant economic, fiscal, and community impacts that Towson University has had since its founding in 1866.
Forecasting examines factors impacting the overall economy or particular sector(s) and incorporates predictions and estimates of anticipated future behavior in economic activity. Forecasting can serve as a starting point for economic planning and decision making.
We deliver RESI's economic forecast during our annual Economic Outlook Forum.
Every policy change has winners and losers. Verifying the probable results of any change in public policy is of crucial importance to any governmental entity. Who benefits and who does not, and by how much, are challenging questions that call on the diverse skill sets of RESI staff.
RESI’s report analyzing the impacts of Maryland’s film production tax credit quantified the jobs, output, wages, and state and local tax revenues generated as a result of this legislation.
These analyses examine the amount of a certain resource available to the consumers of that resource and the amount of that same resource needed or desired by its consumers. Generally, these studies are used to determine if there is a gap between what is available and what is needed or desired in regard to a particular product, service, and/or industry.
One such analysis that RESI completed in conjunction with HR&A Advisors, Inc., investigated the demand for Bachelor’s degree candidates in the construction/built environment industry in Maryland.
These reports examine the detailed statistical findings from administered surveys. Such reports can provide a more in-depth and informative analysis of economic objectives or queries as respondents typically directly or indirectly are involved, affected by, or have expertise in the relevant subject.
An example of survey analysis is RESI’s report regarding the 2014 Colonial Athletic Association Men’s Basketball Championship, which used the results of a survey of attendees to quantify the event’s economic and fiscal impacts.
RESI has experience conducting interviews and focus groups both independently and alongside quantitative methods to understand the story behind the numbers. These methods have been used to gain information from a variety of stakeholders including academics, policymakers, government officials, and business leaders.
Using both interviews and focus groups, RESI completed a Strengths, Weaknesses, Opportunities, and Threats (SWOT) assessment of the defense communities in Maryland to understand the impact of a reduction in Department of Defense funding for the Maryland Defense Network.
Market studies examine the current condition of a specific industry sector in terms of size, trends, growth rate, opportunities, competitors, etc., and provide recommendations based on the research analyzed. These studies can also include an analysis of the feasibility of entering a particular market.
Sometimes referred to as "labor shed analyses," these studies report statistics that illustrate the overall employment profile history and current industry trends of a selected region as well as provide applicable recommendations.
The right research properly applied can help move legislative agendas forward.
The recent successful advocacy for criminal background checks for informal child care providers was aided by RESI research performed at the Maryland State Department of Education. This paper documents a cooperative effort with the advocates of the Maryland Family Network in the halls of Annapolis.