Industrial Economics Inc.

Industrial Economics Inc., doing business as IEC, is a Cambridge, Massachusetts-based environmental and economic consulting firm that competes as a non-small-business prime contractor across federal civilian agencies without reliance on set-asides, delivering economic analysis, regulatory impact modeling, policy evaluation, natural resource damage assessment, expert witness testimony, and scientific assessments across environmental, energy, health, and regulatory domains.

IEC operates overwhelmingly as a prime contractor—99% of its 2,062 awards across all federal sources over the past four decades. The firm's customer base spans 74 distinct federal agencies, with heavy concentration in environmental and natural resource domains. The Department of Justice's Environment and Natural Resources Division leads by award count (417 awards, $31.4 million combined potential value), anchored by standing expert witness retainers; the National Oceanic and Atmospheric Administration dominates by dollar value (155 awards, $523.8 million), reflecting large natural resource damage assessment and oil spill response engagements; and the Environmental Protection Agency represents the broadest federal relationship across multiple offices (255 awards, $1.5 million potential value across that sampled count, though larger vehicles like the $39.78 million Office of Land and Emergency Management BPA and the $3.2 million Office of Enforcement and Compliance Assurance IDV drive substantially more spending). The top five customer agencies account for 54% of awards; NOAA, FDA, EPA's OLEM, EPA's Office for Air and Radiation, and CPSC account for 60% of combined potential value.

IEC's prime vehicles are anchored in the GSA Multiple Award Schedule: 486 task orders totaling $512.6 million sit against the MAS vehicle broadly, while 359 orders on the Professional Services Schedule (GS10F0224J) carry $196.8 million. The firm holds eleven named single-award and multiple-award BPAs: a $58 million CPSC Data Analytics BPA (awarded May 2026), a $39.78 million EPA Office of Land and Emergency Management economic and analytical support BPA (awarded September 2025, through August 2030), a $10 million Bureau of Ocean Energy Management offshore wind consulting BPA (originally awarded September 2023, now expired July 21, 2025), a $9.8 million FDA tobacco policy and regulatory analysis BPA (awarded May 2024, through May 2027), a $9.6 million NOAA Office of Response and Restoration multiple-award BPA for natural resource damage assessment and technical support (awarded December 2025, through December 2030), a $4.5 million EPA Office of Enforcement and Compliance Assurance IDC for environmental enforcement economic modeling and expert witness (awarded March 2023, through April 2028), a $2 million EPA Office of Enforcement and Compliance Assurance single-award BPA for Superfund enforcement expert financial and corporate analysis (awarded September 2024, through August 2029), and a $999,986 Customs and Border Protection economic impact analysis BPA (awarded September 2023, through August 2028).

Representative recent prime work illustrates the portfolio's breadth. IEC holds a $3.2 million delivery order from EPA's Office of Enforcement and Compliance Assurance (awarded April 2023, completing April 2028) for economic modeling, financial analysis, expert witness testimony, and training in environmental enforcement, on which the firm reported 0.4–2.2 FTEs annually and government-paid rates climbing from $138/hr (FY2023) to $153/hr (FY2024). IEC was awarded a $1.19 million Department of Justice purchase order (July 2024, completing February 2029) for expert witness services across multiple environmental litigation matters. The firm received a $2.65 million EPA OLEM BPA call (April 2026) for economic support in OLEM rulemakings, with subcontractor Ross & Associates Environmental Consulting named effective August 2026. NOAA awarded IEC a $3.94 million multiple-award BPA call (February 2026, completing February 2029) for science-based services on the Diamond Alkali Superfund Site and Lower Passaic River natural resource damage assessment. IEC was awarded a $1.93 million NOAA call (September 2023) for pre-assessment phase technical and support services for the MC20 oil spill, pairing IEC's prime role with two women-owned small-business subcontractors (Research Planning Inc. and Water Mapping LLC) to deliver oil spill response and environmental sensitivity mapping. The firm received $482,804 from the Army Corps of Engineers (October 2024) for tropical cyclone risk assessment to DOD installations using advanced physical downscaling, funded through the Environmental Security Technology Certification Program. FDA awarded IEC a $3.25 million labor-hours call (October 2025, completing May 2030) for tobacco cost model support under its $9.8 million tobacco policy BPA. CPSC issued a $226,084 BPA call (September 2024) to develop in-use product population estimates, with Euromonitor International as named subcontractor for market research. On the Department of Energy's Office of Environmental Management, IEC holds multiple task orders totaling $8.3 million for natural resource damage assessment support at Los Alamos, Pueblo, and Rocky Flats sites, generating $1.2 million in FY2024–FY2025 invoicing across 2.0–2.5 FTEs at government-paid rates around $131–166/hr.

IEC's recompete cliff shows 81 awards (combined potential value $31.2 million) reaching ultimate completion within the next twenty-four months, creating material recompete exposure across NOAA, EPA, DOI, and DOJ relationships.

Across SCI-reportable federal service contracts above the $150,000 threshold—a strict subset covering only service contracts and excluding goods, grants, micro-purchases, and non-federal revenue—IEC invoiced $57.1 million over FY2022–FY2025, averaging $14.2 million annually. The firm reported 36.9–48.4 FTEs across those years, peaking at 48.4 FTEs in FY2023 and declining to 37.2 FTEs in FY2025. Government-paid hourly rates on SCI-reported prime contracts ranged from $118.67/hr at the 10th percentile to $282.02/hr at the 90th percentile, with a median of $152.08/hr, reflecting a mix of analyst, senior associate, and senior specialist roles. Across its SCI-reportable prime contracts, IEC performed 93% of contractor hours in-house, engaging subcontractors for 7% of hours on average; the firm named 39 subcontractors across those records. The active GSA labor portfolio spans 68 categories, ranging from $61.14/hr (Clerical CW3, high school, no experience) through $433.76/hr (Subject Matter Expert, master's degree, 20 years experience), with no security-cleared positions offered.

IEC's subcontracting footprint in non-SCI work includes four named sub-awards as a subcontractor to Eastern Research Group Inc. (climate science impacts analysis, EPA Office of Air and Radiation), four sub-awards to Censeo Consulting Group Inc. (program evaluation, management consulting under EPA OLEM and Office for Chemical Safety and Pollution Prevention BPAs), and two sub-grants (Colorado Energy Office and MIT, focused on workforce data and climate impacts economic modeling). On the prime side, IEC frequently subcontracts to small and disadvantaged businesses—named examples include Ross & Associates Environmental Consulting Ltd. (regulatory analysis), Research Planning Inc. (oil spill response), Avanti Corporation (Native American woman-owned, administrative support on BOEM wind projects), Euromonitor International (market research), JFK Environmental Services LLC (woman-owned small disadvantaged business), and Sirius Computer Solutions LLC (IT support).

Activity has contracted modestly year over year—63 awards in 2022 declining to 37 in 2026 through mid-September—though this reflects the maturation of the prime vehicle footprint under large BPAs rather than loss of customer relationships. IEC competes full-and-open across all major vehicles without set-asides, reflecting its establishment and scale as a prime contractor. The firm's geographic footprint spans Cambridge headquarters with secondary performance sites in Washington D.C., Denver, Cincinnati, Bethesda, Silver Spring, and subordinate field offices supporting natural resource damage assessments and Superfund work nationwide.