The Economic Development Foundation Of Rhode Island Inc

What The Economic Development Foundation Of Rhode Island Inc does

The Economic Development Foundation of Rhode Island Inc (EDFRI) is a private, Rhode Island-incorporated not-for-profit advisory firm that provides data-driven economic development and commercial real estate consulting services to local governments, economic development organizations, and commercial property owners. The company was established in the early 1960s, underwent a name change in 2005, and in 2022 the Board of Directors exited direct commercial real estate development and investment activities to focus exclusively on consulting. Its service portfolio spans commercial real estate advisory, economic and fiscal impact analysis, tax-increment financing district design, redevelopment planning, small-business program design, and program and project management, including representation of municipalities in negotiations with private developers. EDFRI's methodology centers on proforma-based gap analysis to validate project capitalization, investment performance modeling to determine optimum capital structures and incentives, and economic/fiscal impact studies used to secure public sector support and incentive awards. The firm has been directly involved in over 500 acres of industrial and office park development and more than $500 million of private commercial real estate investment across Rhode Island, including the $8 million Innovate Newport repositioning of a vacant elementary school into an innovation and co-work facility and the Nasonville Redevelopment Plan for the Town of Burrillville. Operations are run out of Cumberland, Rhode Island under Principal Scott Gibbs, with a strategic partnership with Camoin Associates extending analytic capacity. The company delivers services through direct advisory contracts — typically project-based or retainer arrangements — using content marketing, LinkedIn and Facebook presence, a blog authored by Scott Gibbs, and HubSpot-enabled meeting booking as its primary client acquisition channels.

Name

The Economic Development Foundation Of Rhode Island Inc

Legal name

The Economic Development Foundation of Rhode Island, Inc.

Website

https://edf-ri.com

Company type

Private

Founded year

1960

Operating status

Operating

Headcount range

1–10 employees

Short description

The Economic Development Foundation of Rhode Island (EDFRI) is a Rhode Island not-for-profit consultancy providing data-driven economic development and commercial real estate advisory services to local governments, economic development organizations, and commercial property owners.

Ownership category

akta.pro rank

Product category

Economic Development Consulting

SIC

Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Real Estate Public-Private Partnership (PPP) & Infrastructure-Adjacent Real Estate Advisory (BPAJANAL)

Keywords

• Economic development advisory
• Commercial real estate consulting
• Municipal consulting services
• Tax-increment financing
• Redevelopment district planning

Headquarters

HQ city

Cumberland

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales

Revenue model

1. Advisory and Consulting Services: EDFRI generates revenue through professional advisory and consulting fees for services provided to local governments, economic development organizations, and commercial property owners. Services include gap analysis, investment analysis, economic impact studies, strategy and program design, and project management. Revenue is likely project-based or retainer arrangements for ongoing advisory relationships.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

EDFRI provides data-driven advisory and consulting services for economic development and commercial real estate projects, serving local governments, economic development organizations, and commercial property owners in Rhode Island. Service offerings span commercial real estate advisory, development impact analysis, tax-increment financing design, strategy and program design, program and project management, gap analysis, investment analysis, and project representation. Services are delivered through direct engagement, with pricing structured on a project or retainer basis.

Product overview

EDFRI is a not-for-profit economic development consultancy providing data-driven advisory and consulting services. The company does not operate a unified software product but rather offers a portfolio of advisory service offerings including: Commercial Real Estate Services, Development Impact Analysis, Tax-Increment Financing Advisory, Strategy & Program Design, and Program & Project Management. Additional services include Gap Analysis, Investment Analysis, Project Execution Planning, and Project Representation. These services are designed to enhance the market value of commercial properties in need of repositioning and to enhance the capacity of local government to make sound, effective economic development decisions.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Real Estate Services Advisory services for the conceptualization, capitalization, investment analysis, and execution of commercial real estate development projects, providing a flexible and cost-effective expertise resource for cities, towns, investors, and property owners.
• Development Impact Analysis Economic and/or fiscal impact analyses for development projects or economic development strategies, used to secure public sector support and incentives for cities, towns, and private developers.
• Tax-Increment Financing Advisory Analysis and design of tax-increment financing districts and programs for cities and towns, covering infrastructure, real estate development, and workforce training projects consistent with state statutes.
• Strategy & Program Design Design of economic development strategies and programs including omnibus tax-stabilization programs, redevelopment district planning, small-business revolving loan programs, economic development elements for municipal comprehensive plans, advisory services to redevelopment agencies, and meeting facilitation.
• Program & Project Management Management of economic development programs and services for municipal governments, including representation during negotiations with private developers and businesses.
• Gap Analysis Proforma analysis of development projects to identify gaps in project capitalization, used by municipalities to validate private market requests for incentives and by developers to secure non-conventional capital.
• Investment Analysis Analysis of projected investment performance for commercial real estate development projects including optimum capital structure and incentives for private, nonprofit, and public entities.
• Project Execution Planning Assessment of public entitlement requirements and processes with the objective of designing realistic execution steps and timelines for developers and property owners.
• Project Representation Representation of development projects in building awareness, input, and support with regulatory entities and stakeholders.

Quantifiable outcome

• Over 500 acres of industrial and office park development completed
• +2 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Camoin AssociatesstrategicStrategic or Co-development PartnerCamoin Associates is described as the nation's only full-service economic development consulting firm with more than 20 years of experience working with public and private clients to generate economic resiliency and prosperity. Their services include real estate, industry, and workforce market and feasibility analysis; tax increment financing and development financing. All work is grounded in analytics leading to specific strategies and actions. EDFRI references Camoin Associates as a strategic partner on their website, indicating a collaborative relationship in providing comprehensive economic development consulting services.

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Matrix Economics: Matrix Economics is an economic development and impact analysis firm providing fiscal and economic impact studies, tax-increment financing analysis, and redevelopment advisory to municipalities — closely aligned with EDFRI's gap, impact, and TIF services.
• TIP Strategies: TIP Strategies is an economic development and site selection consulting firm serving communities, utilities, and developers with strategy, target industry, and real estate advisory work. It competes for the same municipal and developer mandates EDFRI targets.
• RKG Associates (now RKG Economics): RKG Associates is an economic and real estate consulting firm providing market analysis, fiscal impact, and redevelopment advisory services. It competes for the same municipal economic development and real estate advisory mandates.
• Strategic Economics: Strategic Economics is an economic and real estate consulting firm providing market and feasibility analysis, fiscal impact studies, and redevelopment advisory to public and private clients — directly comparable to EDFRI's service portfolio.
• AngelouEconomics: AngelouEconomics is an economic development consultancy offering target industry, workforce, and incentive analysis for cities, counties, and developers. It is directly comparable in service mix and customer type to EDFRI's advisory offerings.
• Avalanche Consulting: Avalanche Consulting is an economic development strategy firm offering target industry, workforce, and real estate advisory services. It addresses the same customer pain point — municipalities needing external economic development expertise.
• Camoin Associates: Camoin Associates is a full-service economic development consulting firm offering real estate, industry, workforce, and TIF analysis for public and private clients. It is EDFRI's named strategic partner and operates in the exact same economic development advisory category.

Emerging players

• Future iQ: Future iQ provides economic development scenario planning, community resilience, and strategy consulting to municipalities and regions. It is a comparable niche advisor with overlapping municipal clientele and strategy-design service lines.

Broad incumbents

• HR&A Advisors: HR&A Advisors is a large, established real estate and economic development advisory firm serving cities, developers, and institutions across the US. It competes for larger, more complex municipal and real estate advisory mandates EDFRI targets at the small-municipality end.
• ECONorthwest: ECONorthwest is a regional economics consulting firm providing economic, land use, and real estate analysis to public agencies and private clients. It serves municipal clients with overlapping advisory services to those EDFRI provides.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/profile.php?id=100069879487279
• LinkedInlinkedin.com/company/the-economic-development-foundation-of-rhode-island

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 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 The Economic Development Foundation Of Rhode Island Inc