Estimating The Local Economic And Fiscal Impacts Of Project HOME
Project HOME's growth over the past 25 years has allowed us to leverage $106 million in capital expenditure and annual operating expenditures into $609 million in economic activity – a factor of nearly $2.25 for every dollar spent – and is statistically correlated with increasing property values over time, according to an independent analysis. In their 2011 report, Econsult Corporation found that Project HOME programs demonstrated a positive impact of $24,000 per homeowner and $10.6 million to the City's tax base.
In addition, the report quantifies the economic impact of Project HOME's capital and operating expenditures over time, leveraged from local, state, and federal government sources; generated from program revenues; and generously contributed by private donors. These figures support the idea that Project HOME developments and operations create jobs and business for local companies and contribute to the tax base, all while improving the quality of life for all Philadelphians.
(This study is an update and expansion of the 2007 Econsult report, Project HOME's Economic and Fiscal Impact on Philadelphia Neighborhoods).