If you are in the works on a motor upgrade - check the specs carefully and see if you can get one spec'd for inverter/VFD drive. You can get a VFD for not much cost, in the grand scheme of things. See below for an option.
This one is rated to 2hp. Single phase 220v in, 3-phase 220v out.
There might be a large difference in price of an inverter/VFD rated motor vs not. And there may be a large difference in single phase vs 3-phase in general. So lots to consider. I would imagine, though, that a single phase 220 motor of the rated power you need is going to be the most economical route. The VFD ability would give you a lot of flexibility, however, if you can justify it.
Variable Frequency Drive
Purchase Teco F510-2002-C3 2 HP Variable Frequency Drive from Dealers Electric
dealerselectric.com
This one is rated to 2hp. Single phase 220v in, 3-phase 220v out.
There might be a large difference in price of an inverter/VFD rated motor vs not. And there may be a large difference in single phase vs 3-phase in general. So lots to consider. I would imagine, though, that a single phase 220 motor of the rated power you need is going to be the most economical route. The VFD ability would give you a lot of flexibility, however, if you can justify it.