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2.0 EXECUTIVE SUMMARY <br />Employee Compensation: On an annual basis, new residents and the apartment complex would <br />generate close to $2.6 million in total employee compensation in the City, through direct, indirect, and <br />induced impacts. In addition, these two sources would generate approximately $0.5 million in total <br />employee compensation in the remainder of the County. Thus, the project would generate <br />approximately $3.05 million in total employee compensation in Orange County on annual basis'. <br />Table 2-2: Summary of Ongoing Impacts (Sum of Direct, Indirect, and Induced) <br />The Madison <br />City Remainder of County <br />Impact Category Total County Total <br />Output (000s) $8,229 $1,697 $9,926 <br />Value Added (000s) $5,493 $1,083 $6,576 <br />Employment 77 11 88 <br />Employee Compensation (000s) $2,563 $486 $3,049 <br />Source: TN DG; IMPLAN <br />2.3. Fiscal Revenue Impacts <br />The project would generate two primary sources of annually -recurring revenue to the City's General <br />Fund: Property Taxes and Sales Taxes. New property taxes would result from the incremental assessed <br />property value generated by the project, while new sales taxes would be generated by project residents' <br />retail expenditures at retail establishments located in the City (and in the onsite ground floor retail <br />space). As shown on Table 2-3, on the following page, the project would generate about $268,000 in <br />new property taxes, in addition to approximately $72,000 in new sales tax revenue. Combined, the two <br />revenue sources would generate about $340,000 in annually -recurring revenue to the City's General <br />Fund. <br />7 Employee compensation is a "fully loaded" payroll estimate, including all benefits (e.g., health, retirement) and <br />payroll taxes (both sides of social security, unemployment taxes, etc.). Based on factors provided in the IMPLAN <br />model, the project would generate approximately $2.3 million in salaries/wages in Orange County on an annual <br />basis. <br />THE NATELSON DALE GROUP, INC. Paye 7 <br />DRAFT Economic Impact Analysis <br />The Madison (Santa Ana, CA) <br />75A-104 <br />