Economic Analysis Case Study

PROJECT: Economic Impact of Major League Baseball Spring Training in Palm Beach County
DESCRIPTION: This study was conducted during the Spring Training Season to determine the full impact of Major League Baseball in the County. Surveys and interviews were conducted with the Atlanta Braves, Montreal Expos, concessionaires, media representatives and fans to determine spending patterns and amounts. Impacts analyzed included the total impact on tourism, additions to the local economy and the multiplier effect throughout the county.
PROJECT: Economic Impact Study of Tourism on Cocoa Beach -
City of Cocoa Beach
DESCRIPTION: This year long study evaluated the costs to serve the annual tourist population through interviews at hotels/time shares/seasonal properties and at events and "Visitor attractors" in the City. Evaluation and review of departmental expenditures was also examined to determine the impact of tourists on police, fire, parks, administration, public works, sanitation, etc.
PROJECT: St. Regis Hotel, Fort Lauderdale, Florida
DESCRIPTION: Determined the value of the project (St. Regis Property) based on estimation of the revenue stream and calculating the Net Present Value of the project. Prepared an "Offering of Investment" package that identified the revenue stream and documented the value of shares of the project.
PROJECT: CRA Consultant, City of Fort Lauderdale, Florida
DESCRIPTION: Assists the CRA with evaluations of proposed projects in redevelopment area. Prepares the financial analyses of the impacts of developments including projections of TIF and other revenues. The purpose of the analysis was to determine the total amount of revenues that were available to the City and the CRA and the ability to fund the required infrastructure improvements. Projects were on time and within budget.
PROJECT: Feasibility Analysis for the Proposed Gospel Hall of Fame Phases I & II, Broward County, Florida
DESCRIPTION: Examined and analyzed the potential for establishment of a Gospel Music Hall of Fame in Broward County. Fiscal analysis of the proposed Museum focused on the prospects of self-sustainability of the enterprise after the initial development costs. Feasibility addressed projected admission counts, other revenue sources and operating expenses. In assessing the project’s financial viability a Market Analysis was completed to judge the demand for the product and services that the proposed hall would provide.
PROJECT: Economic Impact of Large National and International Track and Field Events at the Ansin Sports Facilities, Miramar, Florida
DESCRIPTION: Evaluations were undertaken to conduct an economic impact study regarding the staging of large scale, national and international track and field events at the city’s sports center. Some types of events were contemplated to be national events involving college level athletics or national amateur organization, international events and local events that draw high school, youth group and club organizations that focus on track and field. Revenues, expenses demand for services and the overall economic impact were measured.
PROJECT: Valuation Determination for the Lauderdale Lakes Mall, Lauderdale Lakes CRA, Lauderdale Lakes, Florida
DESCRIPTION: Prepared a value determination of the Lauderdale Lakes mall, an underutilized retail mall the City’s Redevelopment Agency sought to purchase. Valuation was prepared through a review of existing lease revenue stream, existing use of space, a full property appraisal, the current cost of maintenance, and cost of needed demolition. Valuation was to be used to determine feasibility of purchasing the Mall for redevelopment into a mixed-use project including residential, office, and retail users.
PROJECT: Air Cargo Planning Study – Miami International Airport
DESCRIPTION: This study detailed the amount of cargo being shipped from this international airport and an approximation of how much cargo and revenue would be lost if an additional road widening project, and other infrastructure improvements are not made. Involvement with freight forwarders, surrounding industrial land owners and businesses, shippers and airport personnel was a priority. Estimates of potential losses of revenues were also calculated.
fork lift MIA
PROJECT: Economic Impact Studies, International Airports

DESCRIPTION: Completed the determination of the economic impact of the international airport focusing on both passenger and cargo operations. The analysis included use of the RIIMS II Model to estimate the secondary impacts of the activities. The analysis measured the impact by industry segment and calculated employment, salaries and total throughput. Projections for the future impact were also made based on expected growth in airport operations.
These studies were conducted for:

  • Manchester Airport, New Hampshire
  • Norfolk International Airport, Norfolk Virginia
  • Fort Lauderdale-Hollywood International Airport
PROJECT: Comparison of Unsolicited Responses for Development of Yamato Tri-Rail Station
DESCRIPTION: Duties included the comparison of two proposed development scenarios for the Yamato Road Tri-Rail Station in Boca Raton. Responsibilities included the securing of the confidential financial statements of the principals of both teams. Recommendations were put forward which included a comparison of development products, square footage and revenues that would accrue to the Agency.
Tri-Rail Station

PMG Associates, Inc.
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