Community & Home Support
DiAnna Solomon, Eric Foster, Lloyd Banks
Banks & Co developed an Economic Impact Analysis for Community & Home Supports, Inc. of the positive economic growth of their clients, spending impacts of the agency and positive impacts of their employee base. The analysis is used as an aspect of building the business case for relationships with governmental funders and for overall fund development strategies.
Key data highlights from our Economic Impact Analysis Report included:
CHS has a significant income on the Southeastern Michigan economy, via the stabilization and income growth of clients, economic activity of employees and agency spending and savings generated for the State by decreasing the drain on social service benefits for employees and clients. Specifically, CHS does the following:
· Has helped increase client incomes by $1.309 million dollars and created total client economic activity of $2.487 million dollars.
· Helped over 72% of its clients since 2008 stabilize their housing and social environment and regain their independence.
· Reduces the State’s potential outlay in payments for social service benefits by over $9.27 million dollars annually.
· Creates an estimated direct and indirect economic impact of $8.49 million annually.
Stabilization through CHS services doesn’t just provide a social benefit but they provide a definitive economic impact via the agency operations and client positive outcomes of up to $8.492 million dollars annually (including $133,716 in service value for Senior Adult Care services).