EY US has acquired Avalanche Consulting, an Austin-based economic development consulting firm. The firm will be rolled into EY’s economic development advisory practice within the tax services line.
Founded in 2005, Avalanche delivers economic analyses and development strategies to development organizations, chambers of commerce, city and county governments, workforce development entities, foundations, and institutions of higher education. The company has worked in more than 150 communities, with clients including Sonoma County, California; City of West Palm Beach, Florida; and Longmont, Colorado.
Avalanche’s team of eight professionals use custom research, stakeholder engagement, global market intelligence, and sector insights to drive economic development for their clients.
“The addition of Avalanche takes our tax and government and public sector service offerings to the next level,” said Marna Ricker, EY Americas vice chair of tax services. “Avalanche applies authentic, original strategies supported by an understanding of the complexities of today’s economic development landscape. We are excited that Amy Holloway and her team will drive the next wave of our Economic Development Advisory services and work with our existing network of professionals to generate community and company value alike.”
The deal will see Avalanche founder and CEO Amy Holloway join as a principal and national director in the economic development advisory practice.
EY’s economic development team offers services in evaluation of current economic conditions, benchmarking, and strategic advisory. The expanded group will offer support on leadership, talent, business development, infrastructure, image, and public policy.
“I’m proud of our positive impact on communities that want to energize their economies and become more attractive to residents and businesses alike,” said Holloway. “Our clients have developed strategies that have created tens of thousands of jobs and more prosperous economies for people living in our client communities. Our long-term mission to generate sustainable and inclusive economic growth aligns well with EY’s purpose to build a better working world.”
EY US saw its revenues grow by 9.1% to $15.3 billion in fiscal year 2019. The company has approximately 45,000 employees in the country.