ICF provides economic and financial analysis to public and private organizations seeking to evaluate programs and policies or to determine the broad impacts these programs and policies might have on the economy. Clients repeatedly call on ICF for our innovative analyses and ability to deliver practical and timely results that help them meet their goals, no matter how complex.
Our interdisciplinary teams of economists, policy analysts, and subject matter experts provide the following services―across all markets served by ICF:
Regulatory Analysis and Review—ICF has conducted regulatory impact analysis for dozens of agencies, including estimating costs and benefits and the effects of regulations on small businesses. ICF economists have conducted retrospective reviews to evaluate whether existing rules have generated benefits and costs in line with those predicted before implementation and help determine whether the rules should be amended or eliminated. We have helped our clients build internal capacity by developing databases combining multiple sources of regulatory costs and benefits data that agencies can use to conduct analyses. We have peer reviewed regulatory analyses developed by government economists to recommend improvements.
Economic Impact Modeling—Modeling of economic impacts is especially useful for assessing the direct and indirect effects of government programs and policies or investments made by businesses, universities, and other enterprises. We use IMPLAN®, REMI®, EMSI, RIMS II, or other models based on the best fit for the analysis to measure the impact on economic growth, job creation, and tax revenue.
Cost-Benefit Analysis—ICF has conducted dozens of cost-benefit analyses to compare program and policy alternatives. We excel at quantifying the benefits and costs falling outside the bounds of market activity that are not readily monetized. ICF economists have estimated return on investment, net benefits, and break-even points for many programs and policies relating to infrastructure, energy, environment, transportation, and other sectors. We have applied innovative methods for estimating the benefits of preventing “low-probability, high-consequence” events.
Regional Economic Development and Competitiveness Strategies—ICF helps regions, states, local jurisdictions, and industries assess their competitive position. We develop strategies to attract businesses and formulate economic development plans. We conduct labor market analyses to evaluate the demand for, and supply of, workers. We assess policies ranging from environmental tax credits to fiscal incentives for resilient infrastructure. To ensure that program costs are fully recovered fairly and equitably, ICF conducts user fee studies to assist government clients in determining appropriate fee structures.
International Economic Development—ICF economists support clients around the world in understanding the economic implications of policies to mitigate poverty and promote sustainable economic development. We have addressed very challenging questions—from resource and resiliency planning in Africa to energy access in Asia’s poorer nations.
Emission Reduction Initiatives—ICF has supported the U.S. Environmental Protection Agency and other federal agencies, state agencies, and private entities analyze energy and environmental programs to cut greenhouse gasses and policies affecting criteria air pollutants and ozone-depleting chemicals. ICF has played a role in virtually all market-based emission reduction policies, from the Acid Rain Program to more recent carbon trading programs such as the Regional Greenhouse Gas Initiative. ICF economists have supported market-based emission reduction initiatives around the world, including renewable portfolio standards, taxes, subsidies, and trading programs.
Valuation of Ecosystem Services—ICF excels at estimating the monetary value of ecosystem services, which are highly valued by society but do not have market prices that adequately reflect their value. Examples of ecosystem services are water flow and supply, air quality, and biodiversity. ICF uses a variety of approaches, including non-market valuation, to ascribe a monetary value to ecosystem services.
Litigation Support—ICF economists provide expert witness services to attorneys. We support counsel by carrying out cost-benefit and other analyses. We are experts in government and industry best practices and present clear testimony based on sound analysis. Our clients know the research we conduct conforms to the highest standards of government and industry practice.
Econometric and Statistical Analysis—ICF offers capabilities to estimate causal relationships among variables. We work with a variety of econometric programs, such as SAS and Stata, and handle large volumes of data. We perform Monte Carlo simulations to estimate the effects of uncertainty and risk on business and policy options. ICF offers spatial analysis to display analysis results in a given geography.
Socioeconomic Research—ICF profiles market sectors by carrying out environmental scans and analyzing detailed economic, social, and other data. We examine the projected changes in industry structure, occupational composition, financial performance, regulatory environment, and technological trends.