GGA Logo space

page header

The Economic and Fiscal Impacts of the Proposed Route 47 Interchange
Client: The Village of Sugar Grove and Crown Community Development
dashed line separator The Village of Sugar Grove and Crown Community Development engaged Gruen Gruen + Associates (“GG+A”) to estimate the economic and fiscal impacts that may result from the construction of a full interchange at Route 47 and Interstate 88. GG+A quantified the economic and fiscal impacts associated with (a) the construction of the interchange itself and (b) the occupancy of and visitation to building space developed on approximately 180 acres of land adjacent to the interchange (whose development would be unlikely to occur in the absence of a full interchange).

To estimate the economic and fiscal impacts, GG+A performed the following tasks:

1. Based on market research and interviews with affected property owners, identified a build-out scenario for land planned for nonresidential development adjacent to the interchange, in order to quantify long-term development potentials;

2. Utilized IMPLAN Professional® , an input-output model, to quantify the economic impacts on the Kane County economy attributable to interchange construction activity and the recurring or “on-going” operations of business/economic activities facilitated by improved transportation access. The impacts were estimated in terms of the direct and indirect jobs, income and output for Kane County; and

3. Reviewed the Village of Sugar Grove and Kane County budgets, obtained and reviewed a current tax code rate report from the Kane County Clerk, and interviewed municipal representatives to identify sources of increased Village and County General Fund revenue and school district property tax revenue likely to be induced by the development and subsequent operation and occupancy of building space developed on land adjoining Route 47 and Interstate 88.

GG+A prepared a report summarizing the results of the work as well as a brochure and press release. The results of the research and analysis were presented to the Kane County Board’s transportation committee, which has recommended that the County and State and other entities fund the costs of a full interchange to be built at Interstate 88 and Route 47.




GRUEN GRUEN + ASSOCIATES
dashed line separator

Content Copyright © GRUEN GRUEN + ASSOCIATES. All Rights Reserved.
{ site map }