Regulatory standards, depending on your reading of the latest IRS Tranches and guidance, have either changed or come into clearer focus when it comes to what the CDFI Fund identifies as a "successful" Opportunity Zone (OZ) project. Regardless of your reading of IRS's latest missives, there are a few tactics worth highlighting that will ensure that the economic impact analyses describing the significance of your projects and the potential economic significance of your program (or portfolios) will stand ready for review when the time comes to evaluate their contribution to the economic well-being of your service area.
Candi Clouse works for the Center of Economic Development at Cleveland State University. She is one of four people on a team known in northeast Ohio as one of the big players for economic impact analysis. To put it simply, having Cleveland State on the report lends authority to the results.
Ohio, a gem of the midwest, is filled with resilient sports fanatics, people calling soft drinks “pop,” and, more specifically, a film industry that continues to generate positive economic impacts in the Buckeye State. Greater Cleveland is home to "The Avengers" filming location, which was the industry’s third-highest grossing film of all time with $1.5 billion in box office sales worldwide and a budget of $220 million. Candi Clouse sat down with us to discuss her favorite economic impact analysis study to date.