Market Studies, Financial Feasibility &
Economic Development Strategies
LWC is dedicated to improving the performance of communities and industries through sound land use policy, well-researched market strategies, and feasible economic revitalization alternatives. Our market and financial reports always draw from a wide variety of sources to ensure accuracy and comprehensiveness, including: industry-specific reports, market forecasts, U.S. Census and Bureau of Labor Statistics data, quarterly real estate data, academic journals, stakeholder input, and local development costs, leases, and rents.
ECONOMIC SUSTAINABILITY PLAN UPDATE
CITY OF BEVERLY HILLS | 2019 - 2021
LWC was retained by the City of Beverly Hills to lead an update to the City’s 2011-2015 Economic Sustainability Plan (ESP). The ESP Update focused on developing a five-year action plan that promotes that promote economic resiliency, provides flexibility to adapt to changing economies and industries, and ensures a diverse revenue stream to fund City expenditures. The action plan features metrics and indicators to track the effectiveness of specific strategies and overall success of the ESP Update.
LWC worked closely with City staff, conducting interviews with City Departments to assess effectiveness of existing ESP programs and initiatives, while also engaging key community stakeholders, including the Chamber of Commerce, Conference and Visitors Bureau, Rodeo Drive Committee, and Councilmembers. Additionally, the project included an economic and fiscal impact analysis of special events (i.e., Beverly Hills Open Later Days (BOLD), Golden Globes, and Vanity Fair Oscar Party) to understand the return on investment for expenditures and in-kind contributions for these events.
The COVID-19 pandemic erupted near the completion of the project, leading LWC to prepare a set of actionable policy recommendations to address the challenges brought about by the pandemic. Those included readjusting sales tax, TOT and business license tax forecasts, identifying government support programs, enabling outdoor dining and entertainment, and supporting online retail strategies.
The Beverly Hills City Council adopted the Economic Sustainability Plan in May 2021.
Economic Development Strategic Plan
rancho cucamonga, ca | 2022 - 2023
The City of Rancho Cucamonga hired LWC to develop an Economic Development Strategic Plan (EDSP), a five-year work plan to guide the City in establishing and sustaining Rancho Cucamonga as the cultural and economic hub of the Inland Empire.
In the past decade, the Inland Empire has experienced remarkable growth in population, employment, and investment in the manufacturing, logistics, and aerospace sectors. The region is strategically situated between major metro areas and connected to the rest of the world by highways, rail, local and regional airports, and the Ports of Los Angeles and Long Beach. Rancho Cucamonga is well-positioned to leverage opportunities in the region, with a skilled workforce supported by a high-quality built environment that offers residents easy access to recreation amidst an expanding economy.
The EDSP was informed by a review of regional, state, and global trends, as well as a detailed analysis of the City’s demographic, economic, and market conditions. The Plan details the City’s strengths, challenges, and opportunities while identifying target industries based on employment capacity, growth, and presence in the broader region. The EDSP concludes with a five-year work plan that identifies goals and strategies that serve as a road map for economic development decisions City staff and civic leaders will face in the near future.
ECONOMIC DEVELOPMENT STRATEGIC PLAN
CITY OF SAN LUIS OBISPO | February 2012 - October 2012
LWC, in partnership with Seifel Consulting, Inc., was retained by the City of San Luis Obispo, California to prepare a five-year goal- and metric-driven Economic Development Strategic Plan. The Plan recommended strategies to address the City’s major economic goals, including the goal of creating more “head-of-household” jobs.
The team conducted significant public outreach and economic analysis to examine opportunities, challenges, and existing conditions, including demographics, resources and partnerships, in the community. The analysis included an extensive review of the City’s development review process and fees.
LWC Projects with Market & Financial Components 2006 - Present
Alameda County, CA, Ashland Cherryland Business District Specific Plan and Code
Burlingame, CA, Market Analysis
Beaumont, CA, Economic and Fiscal Element, Market Study, and Code Update
Benicia, CA, Mixed-Use Master Plan and Form Based Code
Beverly Hills, Economic Sustainability Plan Update
Chino, CA, Economic Analysis
Cincinnati, OH, Code, Comprehensive Plan, Economic Element
Grover Beach, CA, Zoning Code Update and West Grand Ave. Master Plan
Guadalupe, CA, Mobility and Revitalization Plan
University of Hawaii, HI, Infrastructure Master Plan
Hermosa Beach, CA, General Plan / Coastal Land Use Plan Update
Kingsburg, CA, Development Code Update, and Economic Study
Livermore, CA, General Plan Land Use Conversion Study
Local Government Commission, CA, Local Funding Guide
Long Beach, CA, Coastal Hotel Market Study
Port of Long Beach, Economic Cost Benefit Analysis Facility Upgrade
Malibu, CA, Local Implementation Plan Update
Menlo Park, CA, Analysis of Initiative to Amend Camino Real Downtown Specific Plan
Merced, CA, Bellevue Community Plan
Moraga, CA, Downtown Specific Plan Implementation
Ojai, CA, Short-Term Transient Rentals White Paper & Facilitated Workshop
Petaluma, CA, SMART Rail Station Plan: TOD Master Plan
Piedras Blancas, CA, Motel Feasibility Study and Design Alternative
Port of San Diego, CA, Economic Revitalization Plan
Port San Luis Harbor District, CA, Economic Impact Report
Rancho Cucamonga, CA, Etiwanda Heights Neighborhood and Conservation Plan
Richmond, CA, Liveable Corridors Plan
Richmond, CA, Richmond Bay Specific Plan
San Luis Obispo, CA, Economic Development Strategic Plan
San Luis Obispo, CA, San Luis Ranch Specific Plan
Santa Maria, CA, Market Analysis, Fiscal Analysis, and Economic Element
Seaside CA, General Plan Update Market Study
Soledad, CA, Vision Program and Downtown Specific Plan
Tesoro Viejo, CA, Financial Model and Meeting
Tuolumne, CA, Big Oak Flat Village Economic Impact Analysis
Winton, CA, Walkable Winton Town Center Plan
LWC Working Waterfront Projects 2006 - Present
Environmental Defense Fund, Pacific Sardine Fishery Analysis
Eureka, CA, Cold Storage Facility Feasibility Analysis
Fort Bragg Groundfish Association, CA, Market Assessment and Strategy
Giovanni's Fish Market CMP, First Receiver Catch Monitoring Program
Long Beach, CA, Port of Long Beach Economic Benefit Analysis
Morro Bay and Monterey, CA, Community Sustainability Plans
Morro Bay, CA, 715 Embarcadero commercial Fishing Off-Loading Pier Project
Morro Bay, CA, Commercial Fisheries Economic Impact Reports, 2011 - 2015
Morro Bay, CA, EFP Participant Evaluation Process Facilitator, 2008 - 2010
Morro Bay, CA, Morro Bay Boatyard/Haulout Demand Analysis
Morro Bay, CA, Port San Luis Commercial Fisheries Business Plan and Industry Analysis
Moss Landing, CA, Marine User Economic Development Strategy
National Marine Fisheries Service, CA, West Coast Albacore Fishing Industry Movement of Goods Report
The Nature Conservancy, CA, Central Coast Groundfish Project Economic and Social Impact Analysis
NOAA/ Southwest Fisheries Science Center, CA, Economics and Organization of Community Sustainability Cooperatives
Port of Los Angeles, CA, Terminal Island Land Use Plan
Port San Luis Harbor District, Harbor Terrace Feasibility Analysis
San Diego Port District, CA, Commercial Fisheries Revitalization Plan
San Diego Port District, CA, Economic Revitalization Plan
San Mateo County Harbor District, CA, Strategic Business Plan
Santa Barbara, CA, Commercial Fisheries Economic Impact Report