The recent explosion at a steam reforming facility producing hydrogen in California, U.S., suggests the need to revisit the design of the traditional steam methane reforming (SMR) process from a safety perspective to further enable the growth of the hydrogen economy. Specifically, it is important to analyze the interaction between process, economic and safety variables within the SMR process through an integrated model approach to maintain positive economics of hydrogen production while making the process safer. The integrated model described within this study consists of process synthesis, quantitative risk assessment and economic analysis sub-models facilitating a holistic design for the SMR process. The usefulness of the integrated model is demonstrated by evaluating alternatives based on the inherently safer design philosophy. For the considered base design, it was found that decreasing the pressure of purge gas exiting the purge gas compressor leads to a reduction in the jet-fire axial risk distance of purge gas with minor economic benefits. Also, increasing the temperature of syngas entering the condensation unit leads to a reduction in the jet-fire axial risk distance for both purge gas and syngas with slight decrease in process economics.