Laserfiche WebLink
ta <br />www.FinanceDTA.com <br />SECTION III <br />RECURRING ANNUAL AND ONE- <br />TIME ECONOMIC IMPACTS <br />the same time. Notably, it is possible that the build -out of the Project will occur over <br />more than one year and the demand for some elements of the Project may fluctuate <br />over time. <br />DTA estimated the number of direct employees at the Project's build -out based upon <br />the 737 Square Feet per Employee ("SF/E") factor provided by the Project Proponent. <br />Based on several data sources that provided this type of data for similar land uses, <br />DTA deemed this metric to be appropriate for the Project. <br />Simply put, the Project will contribute to the creation of new jobs in the County and <br />City. As reflected in Figure 5 and Table 5, the development of the Project is <br />forecasted to generate approximately 425 estimated new recurring permanent <br />on -site FTE jobs within the County and City annually. In addition to these on -site <br />employment opportunities, DTA estimates that the Project will generate new off -site <br />jobs in all industries of the County's and City's economy that constitute the <br />indirect/induced employment impacts of the Project. A total of 240 permanent <br />indirect jobs and 284 induced jobs are expected to be created in the County, with <br />120 of those indirect jobs and 142 of those induced jobs occurring within the City. <br />As described previously, indirect jobs are those that are located off -site but are <br />necessary to support the Project by providing goods and services to on -site <br />businesses. Induced jobs are those that result from the expenditures made by the <br />employees working directly or indirectly on -site within the Project. <br />Table 5: Project's Recurring Annual Employment Impact Conclusions <br />Recurring Annual Employment Impacts <br />Land Use <br />0 <br />rSF/E� <br />Indirect3 Induced `Total <br />Direct <br />County City' Countyjk City' County City <br />Industrial <br />Industrial <br />Building Three <br />Note: All numbers are subject to rounding. <br />3 The IMPLAN Study Model outputs are based on the number of direct employees. <br />4 Assumes 50% of the indirect/induced jobs generated in the County will be created within the City. <br />South Coast Technology Center Project <br />Economic Impact Study <br />May 13 2024 <br />City Council <br />28 — 221 <br />12 <br />