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SECTION I <br />ta <br />www.FinanceDTA.com <br />EXECUTIVE SUMMARY <br />on a one-time basis. Finally, adding in $6.9 million in Other Value -Added revenues and <br />$32.4 million in Intermediate Inputs yields a total one-time Citywide economic output <br />for the Project of $84.66 million, which represents a considerable boost for construction <br />within the City. Notably, the one-time construction output represents the aggregate <br />outputs generated during the overall Project construction period, which could span over <br />more than one year. <br />Table 2: Project's One-Time/Construction Impacts on the City <br />Employment <br />457 <br />98 <br />555 <br />Overall Economic Output <br />$63,500,000 <br />$21,159,774 <br />$84,659,774 <br />Labor Income <br />$38,002,669 <br />$7,346,977 <br />$45,349,646 <br />Other Value Added <br />$1,126,141 <br />$5,802,880 <br />$6,929,022 <br />Intermediate Inputs <br />$24,371,189 <br />$8,009,916 <br />$32,381,106 <br />Note: All numbers are subject to rounding. <br />E Jobs -Housing Balance <br />The jobs -housing balance is an indicator of the relative equilibrium between <br />employment and housing opportunities in a given area. A positive balance between jobs <br />and housing has a beneficial impact on a municipality by decreasing costs associated <br />with commuting and traffic congestion. It also reduces commute times, improves local <br />social, cultural and family involvement, provides a more attractive work/life balance to <br />residents, and generates savings to local public agencies in terms of the need to construct <br />and maintain new road improvements and other facilities. <br />As reflected below in Table 3, the City's current ratio of jobs within the City as <br />compared with the number of housing units Citywide is 1.725, exceeding the <br />Statewide average of 1.260. The addition of 687 new jobs through the construction <br />of the Project would increase this ratio to 1.733. A more detailed explanation of this <br />metric is included in Section IV of this Study. <br />Table 3: Pre -Project and Post -Project Jobs -Housing Balance <br />ME®ascription <br />Citywide <br />re -Project <br />Average'Mr- <br />Post -Project <br />Statewide <br />Average <br />Numberi Jobs <br />Number ofHousingUnits <br />i- i <br />i '�- i <br />i•i <br />• <br />i � i <br />i � i <br />� � • i i <br />Jobs -Housing Balance <br />1 Spotlight by Environics Analytics, Employment Profiles by NAICS Code 2023. <br />2 Labor Market Information Division, State of California Employment Development Department. <br />South Coast Technology Center Project <br />Economic Impact Study <br />May 13 2024 <br />City Council <br />28 — 214 <br />5 <br />