Economic Development for Local Governments
Economic Development for Local Governments
Local government leaders face increasing challenges in building resilient communities, but with those challenges come opportunities for growth. Baker Tilly helps leaders cultivate holistic solutions for short- and long-term economic development activities, from public incentives to strategic planning.
Navigating the complexities of economic development
Our depth of public sector knowledge and real estate industry resources gives communities that work with us advantages in realizing your goals.
Municipal and financial advisory
Our team can assist your community with evaluating its financial state of readiness to address an immediate economic development prospect, plan for future opportunities or monitor ongoing projects. Knowing the following tools are available with Baker Tilly can help translate strategic visions into immediate opportunities and long-term fiscal benefit:
- Economic development financial planning
- Private, federal and state incentive structuring and negotiation assistance
- Tax increment financing (TIF) and incentive administration services
- Project financing – debt issuance, grant pursuits and pay-as-you-go analysis
- Project financial and economic impact analyses
- Tax credit assistance
Strategic planning
Strategic economic development first focuses on generating a market understanding, then, through planning and community stakeholder input, leads to policies, strategies and projects to further influence the market. Our team works with clients countrywide to determine community needs, goals and opportunities, create positive change and advance local and regional economic recovery and growth.
- Local and regional economic development strategic planning
- Policy positioning and development
- Revitalization strategies
- Retail and small business support strategies
- Public-private partnership (P3) strategies, targeting economic and real estate development partners
- Stakeholder education and engagement
- Project facilitation, implementation and evaluation
- Strategic funding planning and implementation
Our solutions
Economic development is a team sport. It requires the engagement of multiple stakeholders to execute a successful project or develop a long-term strategic vision for growth. As an independent advisor, Baker Tilly provides unbiased and transparent guidance that community leaders can use to make informed decisions and offers the opportunity to "tell your story" to various audiences, from constituents to potential development partners.
Our mission is to help you achieve development project and other community-wide goals.
Analysis, strategy and planning
- Economic development strategic plans
- Market studies
- Economic impact analysis
- Industry analysis
- Community and economic data analysis
- Housing strategies
Financing and implementation
- Real estate P3 (public-private partnership) advisory
- Alternative financing tools
- Local incentives strategy
- Development analysis
- Economic development bonds
- New Markets Tax Credit and opportunity zone strategies
- State and federal grant strategies
Program management
- TIF administration
- TIF projections and cash flow analysis
- Construction cost analysis
- Property tax abatement
- Grant administration
- Bond post-issuance services
- Economic development performance tracking
Our industries and services
Municipal Advisory
Our independent municipal advisors provide objective analysis, planning and creative solutions for all types of projects. Our priority is helping you achieve your objectives and meet your obligations.
Public Sector Advisory
Our mission is building strong communities.
State & Local Government
Baker Tilly serves the advisory, accounting and assurance needs of states, cities, counties, townships, boroughs, villages and other municipalities across the U.S.
Power & Utilities
Baker Tilly’s utilities team works with clients to confront complex challenges that collide with demands to provide quality constituent services and increase efficiency and effectiveness.
Higher Education
Higher education and research institutions ensure student and institutional success by balancing competing priorities and effectively aligning limited resources.
Baker Tilly Municipal Advisors, LLC is a registered municipal advisor and controlled subsidiary of Baker Tilly US, LLP, an accounting firm. Baker Tilly US, LLP, trading as Baker Tilly, is a member of the global network of Baker Tilly International Ltd., the members of which are separate and independent legal entities.