What ERA Economics does

ERA Economics is a private economic consulting firm founded in 2013 by Richard Howitt and Duncan MacEwan, headquartered in Davis, California. The firm delivers data-driven economic analysis, modeling, and expert testimony to four primary client segments: agricultural landowners and trade associations, agricultural finance and investors (including Farm Credit West and Northwest Farm Credit Services), federal/state/local water management agencies (California DWR, CDFA, U.S. Bureau of Reclamation), and legal teams handling water rights and agricultural litigation. Projects span groundwater sustainability plan (SGMA) implementation, regulatory impact analysis, water and climate risk assessment, agricultural water valuation, and benefit-cost studies across California and additional U.S. states plus selected international engagements in India and Kenya.

The firm's core technology is built on proprietary economic modeling that integrates physical, biological, and geospatial data layers. The flagship SWAP (Statewide Agricultural Production) model simulates California's $47 billion agricultural output under varying water supply and policy conditions, and is complemented by econometric models, commodity market models, farm financial models, and economic multiplier models. In June 2022, ERA Economics acquired Mammoth Water to add software development capability and smart-market water trading platform technology. The firm has 15+ team members, predominantly Ph.D. economists, and publishes peer-reviewed research in Water Resources Research, Environmental Modeling and Software, and California Agriculture.

Revenue is generated through project-based professional services engagements with quote-based pricing; no public pricing exists. The go-to-market is relationship-driven enterprise and government consulting, supplemented by thought leadership through an active blog, peer-reviewed publications, conference presentations (notably the GRA Western Groundwater Congress), and an email newsletter. The firm has no outside equity funding, is privately held by its founding partners and staff, and reports no revenue publicly.

Name

ERA Economics

Legal name

ERA Economics

Website

https://eraeconomics.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

1–10 employees

Short description

ERA Economics is a Davis, California-based economic consulting firm that provides data-driven economic analysis, proprietary modeling, and expert testimony for agricultural, water management, finance, and legal clients, primarily in California.

Ownership category

akta.pro rank

Product category

Economic Consulting Services

SIC

Agricultural Services (700), Services-Commercial Physical & Biological Research (8731)

akta.pro primary industry

Economic & Macroeconomic Research (BPAHALAD)

akta.pro secondary industries

Irrigation Scheduling & Water Optimization Analytics (AFABAMAG), Irrigation Scheduling & Advisory Services (ET/Soil-Moisture Based) (AFACAFAC), Farm Management Information Systems (FMIS) & Farm ERPs (AFAAAFAA)

Keywords

• Agricultural economics consulting
• Water resource economics
• Regulatory impact analysis
• Groundwater sustainability planning
• Water rights litigation support

Headquarters

HQ city

Davis

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Economic Consulting Services: Professional consulting services providing technical economic analysis, research, and expert recommendations to clients in agriculture and water industries. Services include regulatory impact analysis, water valuation, economic feasibility studies, and litigation support. Engagement is project-based with clients including government agencies, agricultural businesses, water districts, and legal teams.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels6 records

Core offering

ERA Economics is an economic consulting firm that provides data-driven economic analysis for the agriculture and water resource industries. The firm delivers project-based services including agricultural water valuation, water risk assessment, regulatory impact analysis, groundwater sustainability planning support, benefit-cost analysis, feasibility studies, market economic analysis, and expert testimony for water and agricultural litigation. It uses proprietary economic modeling (including the SWAP model) combined with professional expertise to evaluate regulatory impacts, supply chain shocks, and water shortage scenarios for government agencies, agricultural associations, water districts, investors, and legal clients.

Product overview

ERA Economics offers a suite of economic consulting services focused on water and agriculture. The company provides proprietary economic modeling and analysis including the SWAP (Statewide Agricultural Production) model. Core services include agricultural water valuation, water risk assessment, regulatory impact analysis, market economic analysis, groundwater sustainability planning, benefit-cost analysis, feasibility studies, and litigation support. The company acquired Mammoth Water to expand technology offerings, including smart markets for water trading. The California Cannabis Access Map (CCAM) is a notable analytical tool for visualizing cannabis market access patterns. Services are delivered through professional economic consulting rather than a traditional software platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Agricultural Water Valuation Bottom-up economic analysis approach that values water assets by recognizing that land and water values are driven by revenue streams the assets can generate. Delivered for investors, farming companies, and state agencies to evaluate water supply conditions, valuations, and implications of policy changes such as SGMA implementation.
• Water Risk Assessment Economic analyses measuring how changing water availability, cost, policies, regulations, climate, and market conditions affect farming and lending outcomes. Develops geospatial economic risk indices at field, district, regional, and statewide scales.
• SRIA for Cannabis Cultivation Standardized Regulatory Impact Analysis for cannabis cultivation regulations, including linked models of primary cannabis cultivation and regional economic models for indirect and induced impacts. Delivered for the California Department of Cannabis Control.
• Market Economic Analysis Industry baseline assessments and outlooks evaluating supply, demand, costs, and trends for crops including processing tomatoes. Supports buyer price negotiations and strategic industry planning.
• Groundwater Sustainability Plans (GSP) Support Technical economic support for GSP development and implementation under SGMA, including cost-effective solutions, management strategies, projects, and management actions for subbasins across California (e.g., Madera, Chowchilla, Colusa, Solano, Cuyama).
• Benefit-Cost Analysis and Feasibility Studies Traditional economic benefit-cost analyses supporting project feasibility and impact studies, including multi-benefit projects achieving habitat, ecosystem, and water-related benefits.
• Water Rights and Litigation Support Expert testimony, strategic advice, and technical economic analysis for regulatory issues, water rights adjudications, and other water and agricultural litigation matters. Includes testimony before Special Masters of the U.S. Supreme Court.
• SWAP Model (Statewide Agricultural Production) Proprietary Statewide Agricultural Production model (SWAP-RTS) that simulates California agricultural output by analyzing water supplies and market conditions, helping stakeholders understand economic forces and policy conditions in a $47 billion industry.
• California Cannabis Access Map (CCAM) Interactive mapping tool developed with Cal Poly San Luis Obispo researchers to classify and visualize areas in California with low access to the legal cannabis market, including Low Income/Low Access and Low Access census tract classifications. Made possible through a Cannabis Academic Research Grant from the California Department of Cannabis Control.
• Mammoth Water Smart Markets Water trading platform featuring smart markets for trading water, developed by acquired company Mammoth Water. Serves as a foundational blueprint for water markets in California.

Quantifiable outcome

• California drought (2014-2016) analysis found $600 million in increased groundwater costs, 564,000 acres fallowed, $850 million in lost crop production, $1.8 billion direct cost and nearly 9,000 farm jobs lost
• +2 more outcomes

Named customers14 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Eight partnerships are on record, tiered core, major and minor.

• Mammoth WatercoreStrategic or Co-development Partner · 22 June 2022ERA Economics acquired Mammoth Water in June 2022 to expand technology offerings. Mammoth Water brought deep experience in water technology and software development, including smart markets for water trading.
• Davids EngineeringcoreStrategic or Co-development PartnerEngineering firm collaborating with ERA Economics on groundwater sustainability plans (GSPs) for subbasins including Madera, Chowchilla, and Colusa. Partnership involves integrated engineering-economic analyses for agricultural development feasibility studies and GSP implementation.
• Luhdorff and Scalmanini (LSCE)coreStrategic or Co-development PartnerCollaborated on Solano Subbasin GSP development. ERA Economics worked with the LSCE team to prepare comprehensive groundwater sustainability plans.
• CDM SmithmajorStrategic or Co-development PartnerERA Economics served as subcontractor to CDM Smith for the Yolo Bypass Salmonid Habitat and Fish Bypass EIR/S project with US Bureau of Reclamation and California Department of Water Resources.
• Center for Collaborative PolicymajorStrategic or Co-development PartnerCollaborated with GSAs and other consultants on GSP development including stakeholder engagement processes for groundwater sustainability planning.
• Cal Poly San Luis ObispomajorStrategic or Co-development PartnerPartnership with Cal Poly San Luis Obispo researchers to develop the California Cannabis Access Map (CCAM), classifying areas with low access to licensed cannabis retail.
• UC Davis Agricultural Issues CentercoreStrategic or Co-development PartnerTeam members have connections to UC Davis including Professor Emeritus Richard Howitt from the Department of Agricultural and Resource Economics and Center for Watershed Sciences. Jarrett Hart was previously a postdoctoral scholar at the UC Davis Agricultural Issues Center.
• Groundwater Resources Association (GRA)minorGTM or Marketing PartnerERA Economics is a GRA WGC sponsor for the fourth consecutive year and presents at annual Western Groundwater Congress events.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Cornerstone Research: Economic and financial consulting firm providing expert testimony, economic analysis, and litigation support to attorneys and regulators. Comparable to ERA Economics in providing expert economic analysis for legal and regulatory matters, though broader across industries (antitrust, securities, finance).
• The Brattle Group: Economics consulting firm with expertise in environmental, energy, and water economics, regularly providing expert testimony in regulatory proceedings and litigation. Highly comparable to ERA Economics in delivering expert economic analysis and testimony for water rights, utility regulation, and environmental matters.
• Berkeley Research Group (BRG): Consulting firm with a dedicated Energy & Climate practice providing economic analysis, expert testimony, and litigation support in environmental and resource economics. Comparable to ERA Economics in delivering technical economic consulting for water, agricultural, and environmental disputes.

Broad incumbents

• ICF International: Large consulting firm providing energy, environment, and economic advisory services to federal, state, and utility clients, including water resource economics and climate impact analysis. Overlaps with ERA Economics in regulatory impact analysis and water economics but serves a broader portfolio of industries.
• Tetra Tech: Global engineering and consulting firm with deep water resources and environmental economics practices supporting government agencies on water infrastructure and regulatory projects. Comparable to ERA Economics as a competitor for federal and state water-related consulting work, though at much larger scale.
• AECOM: Global infrastructure consulting firm providing water resources planning, environmental economics, and engineering services to public agencies. Comparable to ERA Economics for water management and SGMA-related engagements, with broader engineering capabilities.
• CDM Smith: Major water and environmental engineering consulting firm that primes large federal/state water infrastructure projects (e.g., Yolo Bypass). ERA Economics has worked as a subcontractor to CDM Smith, indicating direct competition and partnership in the same water economics space.

Regional players

• Environmental Science Associates (ESA): California-focused environmental consulting firm providing impact analysis, regulatory support, and planning services to public agencies and developers. Comparable to ERA Economics in California environmental regulatory work (CEQA/NEPA support, EIR/S economics), but with broader environmental science capabilities rather than pure economics.
• PPIC Water Policy Center (Public Policy Institute of California): California-based independent research organization producing water policy and agricultural economics research that influences SGMA implementation and state water policy. Comparable to ERA Economics in California water economics domain, though a nonprofit think tank rather than a consulting firm.

Others

• Environmental Defense Fund (EDF) - California Water Program: Environmental nonprofit with a California water program producing economic analyses of SGMA implementation, agricultural water use, and water market design. Comparable to ERA Economics in producing California water/agricultural economics research, though EDF is an advocacy-driven nonprofit rather than a commercial consultancy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xtwitter.com/ERA_Economics
• LinkedInlinkedin.com/company/era-economics

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ERA Economics