KLC Creates Economic Impact Study for City of Winchester

In a first-of-its-kind report, KLC’s Community & Economic Development and Financial Services teams have developed an economic impact study on behalf of the City of Winchester. The report will be used to study the potential returns stemming from new development projects in the city. This study was created utilizing economic impact software to determine the total economic growth, job impacts, and tax revenues of several projects that became possible thanks to financing options through KLC Financial Services.

The economic report arose from a series of public investments the City of Winchester considered for various improvements and public construction projects. City officials wanted a closer, more detailed look into what the investment in these projects could mean from an economic perspective. While it was understood that these efforts would benefit the city, it was unclear whether there would be an economic benefit. The results of the study made it clear that these projects were not only beneficial but also had the potential to create more economic activity in the city.

"By conducting an economic impact study, we gained critical insights that enabled us to ensure our initiatives align with community needs and growth potential,” City Manager Bruce Manley said. “This strategic approach not only enhances our project value but also demonstrates our commitment to delivering tangible returns for the citizens of the City of Winchester. KLC’s Community & Economic Development team members are great partners who realize the value of data to make smart, informed decisions."

The KLC Community & Economic Development team provides economic impact study services that can measure a variety of economic development projects ranging from public investments to new industrial projects. The key information needed to make these studies possible is the total project cost, new job numbers, and the associated industries that are key to the project’s implementation.

"Our partnership with the City of Winchester on this economic impact study represents a significant step toward fostering sustainable growth and development in the community,” stated KLC Executive Director/CEO. “By thoroughly understanding the economic landscape, our economic development and financial services teams will be able to help city officials make informed decisions, attract investment, and improve the quality of life for its residents."

For more information, contact KLC Community & Economic Development Manager Tad Long or Community & Economic Development Advisor John Buchanan.