Case Study: City of Richmond achieves measurable economic impact from its MBE program with MGT's Economic Impact Analysis

City of Richmond, VA drives 476 jobs and 1.41x ROI with MGT

The City of Richmond, VA sought to measure the broader economic impact of its Minority Business Enterprise program beyond simple expenditure tracking. To understand its true return on investment, the city partnered with MGT Consulting for a comprehensive Economic Impact Analysis.

MGT applied advanced economic modeling using the IMPLAN framework to quantify the program's direct, indirect, and induced effects. The analysis revealed that over five years, the program supported 476 jobs, generated millions in labor income, and returned $1.41 to the local economy for every tax dollar invested. MGT's work validated the program as a powerful economic driver, providing city leaders with the data needed to confidently make strategic funding decisions.

City of Richmond, VA