Agenda Packet_2024-08-06 - Laserfiche WebLink

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SECTION III ta www.FinanceDTA.com RECURRING ANNUAL AND ONE- TIME ECONOMIC IMPACTS Figure 6: Annual Recurring Economic Output Generated by the Project $350 C ® $300 $250 $200 $150 5.2 $100 $50 $0 County City ■ Direct ■ Indirect Induced B Description of the One -Time Construction Impacts of the Project As was the case for annual recurring economic impacts, one-time impacts generate one-time non -recurring increases in the County's and City's employment rates (number of full-time and part-time jobs), economic output (e.g., gross receipts), and earnings (the sum of wages, salaries and benefits, and other labor income). The difference is that one-time impacts include economic benefits to the community that occur on a non -recurring basis as a result of construction and development activity. B.1 One -Time Employment According to the IMPLAN Study Model, development of the Project is also projected to create 457 estimated one-time FTE construction -related jobs on -site and 196 one-time indirect and induced full-time/part-time jobs off -site in the County, with 98 of those jobs within the City, for a total of 653 and 555 one-time jobs within the County and City, respectively. Table 9 and Figure 7 below, as well as Appendix B, summarize the projected increases in one-time employment that are generated from the construction of the Project land uses. `Fable 9: Project's One -`Dime Construction and Development Employment County 457 53= 143 653 City6 457 26 1 72 555 �71 Note: All numbers are subject to rounding. 6 Assumes 50% of the indirect/induced jobs generated in the County will be created within the City. South Coast Technology Center Project Economic Impact Study May 13 2024 City Council 28 — 225 W