OptaSoft-Plan Review Delays

Plan Review Delays Impact - Local Economy

Communities with a more efficient construction plan review approval can gain millions of dollars in tax revenues and significantly bolster their economic development. The costs of regulatory delays on economic development are largely unseen because it is not readily apparent that buildings are not being built, potential tax revenues are not being collected, and related jobs are not present. Inefficient construction plan review approvals are equivalent to a drain on economic development. Plan review delays lead to higher costs that either will be passed through to occupants or will discourage new construction.
The purpose of this tool is to analyze the economic impact on local communities economy resulting from the construction activities and the impact of plan review approval delays on Local, state and federal income tax collections. The analysis uses RIMS II economic impact model which estimate both direct and indirect effects resulting from the construction costs circulated into the economy.

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