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Agenda - 06-03-2008-5b5c
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Agenda - 06-03-2008-5b5c
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Last modified
8/29/2008 7:50:03 PM
Creation date
8/28/2008 9:24:37 AM
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BOCC
Date
6/3/2008
Document Type
Agenda
Agenda Item
5b5c
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Minutes - 20080603
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\Board of County Commissioners\Minutes - Approved\2000's\2008
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`~~ <br />'fable :3: Projections for Ketailers, Hotels, and Kestaurants <br />Establishment Number Space: ' <br />(square <br />feet) Projected ` Projected <br />Revenue Number of <br />(million) employees <br />Anchor Retailer 1 125,000 $50 ~ I 1 <br />Hotel 2 120,000 $5 ~ s <br />Restaurants 15 75,000 $15 1 <br />Retailers 55-65 580,000 $116 , <br />Source: East West Partners and IMPLAN data-ES202, Regional Economic Information System, County Business <br />Pattern <br />Using the above figures and the assumption that 70 percent of jobs created would go to Orange <br />County residents, the following table provides a breakdown of the number of jobs going to <br />county residents versus non.-residents. <br />Table 4: Emnlovee Distribution <br />Anchor Retailer 210 90 300 <br />Hotels/Restaurants/Retailers 583 250 833 ~ <br />Total 793 340 1,133 <br />The final part of the analysis was to estimate. the amount of sales tax revenue generated by <br />Orange County due to sales at shops in Buckharn Village. IMI'LAN estimated sales tax revenue <br />to be just more than $5.5 million, all of which would.go to Orange County given that the <br />purchases will be made in the county.. <br />Table 5: Sales Tax Revenue <br />f ~ <br />Sales Tax $5,586,357 <br />Source: IMPLAN data-ES202, Regional Economic Information System, County <br />Business Pattern, Consumer Expenditure Survey <br />Summary <br />C <br />In all, the total economic. impact of Buckhorn Village is significant. During the construction <br />phase of the project over 1,300 jobs will be created. with well over 900 going to Orange County <br />residents. The sales tax revenue generated during construction is $2.18 million with $875,000 <br />
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