Our economic development consultancy in construction aims to stimulate regional, national or global economic growth and prosperity. EK Innovative Engineering provides strategic guidance and support to public and private sector organizations involved in large-scale infrastructure development to optimize social, environmental and economic benefits.
The core focus areas of our economic development consultancy in construction include:
- Feasibility studies: Analyzing the viability of proposed construction projects based on market demand, cost-benefit analysis, and return on investment projections.
- Project financing consultancy: Advising on funding mechanisms, including grants, loans, tax incentives, and innovative finance models like Public-Private Partnerships (PPPs), to secure adequate capital for construction initiatives.
- Job creation and skills training: Estimating employment opportunities resulting from construction projects and designing programs to develop the required workforce skills.
- Local content promotion: Encouraging the participation of local businesses, suppliers, and labor forces in construction projects, thereby boosting economic activity and fostering entrepreneurship.
- Supply chain optimization: Streamlining procurement processes and supply chains to drive down costs, improve efficiency, and foster competition among vendors.
- Value capture strategies: Implementing policies and tools to generate revenue from construction projects, such as land value taxation, transit-oriented development, and tax increment financing.
- Urban regeneration and revitalization: Reviving economically depressed neighborhoods and cities through targeted infrastructure improvements, mixed-use development, and placemaking efforts.
- Social inclusion and equity: Promoting equitable distribution of economic benefits across diverse communities, particularly disadvantaged populations.
- Strategic partnerships: Facilitating collaborative relationships between governments, investors, developers, and other stakeholders to achieve shared economic development goals.
- Monitoring and evaluation: Tracking progress against established benchmarks and performance indicators to measure the success of economic development interventions and inform future policy decisions.
Through this comprehensive suite of services, EK Innovative Engineering’s economic development consultants help in creating the built environment to better serve the needs of people and communities, and creating lasting legacies of prosperity and opportunity. We also help align construction projects with broader economic development programs and make data-driven decisions that lead to improved outcomes for both citizens and businesses. Economic development begins at the vision stage of developing a project outline. We ensure that every project concept is based on a comprehensive evidence base, including economic, social, cultural and environmental data.
Using correlation analysis of this data, we identify opportunities for each project that learn from what has worked elsewhere. This allows us to offer our Clients realistic development prospects that are not only ambitious, but, on the other hand, achievable. In our approach to project development and planning, analytics plays a key role. By integrating processes and technology with planning, we ensure that our projects take into account the interdependence of various systems for project viability. We recognize that many complex development schemes require public sector support to deliver them. EK Innovative Engineering specialists have extensive experience in justifying investments at all levels.
Our economic development consultancy services include:
- Socio-economic research
- Environmental impact assessment reports
- Value for money assessment
- Project financing strategies
- Cost engineering
- Value engineering
To find out more, please contact us at info@ek-innovative.com to receive information from experts competent in the respective field.