Agenda - 06-03-2008-5b5c - Laserfiche WebLink

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I~~~ Table 1: Job Creation Source: IlVIPLAN data-ES202, Regional Economic Information System, County Business Pattern, Consumer Expenditure Survey This investment of $138 million in constructing the space will add 932 jobs to the Orange County economy and 400 jobs elsewhere. In all, 1,332 jobs will. be created.2 The IMPLAN model predicts that 60 percent of (or 801) new jobs will go to the construction industry.3 In terms of the amount of sales tax generated during the construction phase, IMPLAN estimates a total of $2.18 million will be generated (see Table 2). Assuming that 40 percent of materials will be purchased in Orange County, approximately $875,000 of total sales tax revenue will stay in Orange County. Source: IMPLAN data-ES202, Regional Economic Information System, County Business Pattern, Consumer Expenditure Survey ®verview of Mixed-commercial space Buckhorn Village will consist of ane Anchor Retailer, which will be the largest retailer in the project, along with two hotels, 15.restaurants,. and 55 to 65 retail shops. Table 3 shows that the total expected revenue will exceed $180 million once the development is fully operational. IMPLAN estimated the demand for employment based on expected revenue for all establishments, except for.the Anchor Retailer, whose employment figures were provided by the developers of Buckhorn. 2 These measures are complimentary, that is, each measure captures the effects of investment at different points in the circular flow of economic activity. Employment impacts are expressed as the number of full.-time and part-time jobs requvred to produce these goods and services. 3 The construction industries that were used in the model were labeled as "commercial and institutional buildings construction" and "highway- street- bridge- and tunnel constntction"