Harmony Hill Economic Impact Analysis

Situation Analysis

Located in Watertown, South Dakota, and in conjunction with local and state leaders, the Benedictine Sisters of Mother of God Monastery have developed a “Legacy Project” called Harmony Hill.

As a planned 495-acre development with a vision for relationship-rich community and a mission to create a transformative community experience for seniors, students, veterans, and families, Harmony Hill will include:

• Continuum of care for seniors: assisted living, memory care, independent living units, village commons
• 500+ housing Units: student and veteran housing, twin homes, condos, single-family homes, and luxury homes
• Commercial Development: Retail, office, hotel, and restaurants
• STEM Education: Challenger Learning Center and Challenger Park
• Tourism and Recreation: trails, fishing, and recreation ponds
• Net Zero campus: energy efficient systems and solar farm

The Legacy Project will require many partners, investors, and donors with a projected full build-out cost of almost $400 million. 

Watertown SD: 25,000 population / between Sioux Falls and Fargo on I-29; large manufacturing employment; Award-Winning Lake Area Technical College

NCDS Involvement 

Two capital campaigns for Watertown Development Company led to NCDS’ referral to Mother of God Monastery’s Sisters and Harmony Hill project leadership. As fundraising staff and plans were already in place, the Sisters didn’t need fundraising help. 

Instead, the project seeks to attract interest and investment from many sources (local and state governments, donors, business partners, etc.), leading the Sisters to commission an NCDS Economic Impact Analysis for the development. 

Leveraging our expertise in economic impact analyses powered by IMPLAN and experience in all aspects of capital campaigns, NCDS worked with the Sisters and project leadership to gather needed inputs and assumptions for an appropriate and accurate analysis, including:

• Short-term construction impact
• Long-term impacts on jobs, personal income, consumer spending, and business output
• Specific impacts for individual project components: senior living, residential, commercial, and tourism
• Projected new tax revenues for Codington County, the City of Watertown, and the State of South Dakota, as well as annually recurring property taxes at full build-out.

Results

NCDS’ Economic Strategy Center produced a comprehensive Economic Impact Analysis that Harmony Hill project leaders can use over the coming years to secure public funding, grants, charitable donations, and development partners. The combination of “community legacy” and compelling, long-lasting economic impacts makes for a powerful message for prospective investors.

Some highlights from our IMPLAN-powered analysis include:

• Short-term construction impacts will generate over $67 million in new consumer spending and over $325 million in business output in Codington County
• Job creation: 2,041 new jobs associated with short-term construction, and 1,481 new “permanent” jobs from the project’s residential and commercial operations
• Over $49 million in new annual personal income (permanent)
• New Tax revenues:

‍Resources

• View Harmony Hill's economic impact summary infographic here.
• Learn more about the Harmony Hill at Watertown here.
• Learn more about what Harmony Hill's Campus offers here.

Your Trusted Economic Analysis Partner

If your organization or initiative seeks an accurate, proven economic impact analysis to demonstrate value and impact to your local governments, donors, investors, and wider community, reach out to NCDS today.