Prepared by EDR Group for the Framingham, MA Downtown Renaissance, 2011

For Framingham Downtown Renaissance, Inc. (FDR), Economic Development Research Group (EDR Group) developed a web site to provide public information about both the downtown area and the activities of the organization, and is now analyzing the economic impact of a proposed $50 million capital investment in Downtown Framingham. As a public-private partnership, FDR brings together public agencies and private business organizations to enhance the economic state, social vibrancy and physical viability of the downtown area in Framingham, Massachusetts.

The web site serves to consolidate access to business market studies, traffic engineering studies, urban design evaluations and cultural arts opportunity assessments for the area. It also documents subcommittee and task force efforts to enhance pedestrian environments, waterfront activity opportunities and cultural performance activities in the area. Staff of EDR Group also helped FDR efforts to develop long-term visions and economic development strategies.  Framingham Downtown Renaissance Website 

EDR Group also conducted an economic impact analysis of the job and income that oculd be generate by FDR goals of attracting $50 million in future capital investment to the downtown, which could include 100,000 square feet of cultural and retail space and over 200 new residential units. This project has two streams of economic impact: 1) The one-time economic impact from construction of the cultural/retail space and residential units and 2) the ongoing impact of expenditures made by households in the new residential units.  EDR used IMPLAN to trace both direct and spinoff (indirect and induced) impacts through the Framingham economy.