 |
|
Impact of Community Development
|
|
 |
|
Economic Impact Statement (pdf)
Everyone wins when an existing business or industry expands or when a new business relocates to the Eastern Shore, not just the newly employed workers and their families, but the entire public and private economic network. Benefits accrue in the form of increased payroll dollars, greater capital investment and a broader tax base. Ultimately the entire quality of our life is enhanced every time a new job is created.
A recent independent study by the U.S. Chamber of Commerce reveals that for every one hundred new jobs created in a city or county, there are sixty-four additional jobs created to support and service the added one hundred jobs. In other words, one hundred new jobs necessitate sixty-four new jobs in food service, retail, automotive, real estate, banking, etc.
In addition, the study revealed that one hundred new jobs will boost annual retail sales by as much as $2 million. This is called the “ripple effect” of job creation. The chart below shows the impact of one-hundred new jobs on various sectors of a community’s economy. These figures clearly illustrate the importance of developing new jobs through Blueprint for a Better Tomorrow. But not just any jobs. We want to target and attract those higher paying jobs that will compliment, not compete with, the Eastern Shore’s existing business and industry. After all, our existing businesses have been with us through both good times and bad and form the backbone of our economy. Since the positive impact of new jobs is exactly the same whether the jobs come from new or existing business, Blueprint for a Better Tomorrow will focus its efforts in both areas.
Blueprint for a Better Tomorrow continues the framework established through Blueprint for Tomorrow to maximize a single, unified and concentrated approach to implementing a bold and aggressive community development program sponsored by our area’s public and private leaders. The synergy of business and government pulling together for the good of the entire Eastern Shore sends clear and compelling message…“The Eastern Shore is a great place to live and work.”
Impact of One-Hundred New Jobs
• Adds $2.7 million annually to aggregate personal income
• Boosts retail sales by $2 million
• Creates 7 new retail establishments
• Adds 64 support jobs
• Increases population by 200
• Increases family units by 100
• Increases school enrollment by 60
• Increases bank deposits by $8.6 million after 5 years
What One-Hundred New or Expanded Jobs Would Mean to the Eastern Shore
For further information on Blueprint for a Better Tomorrow, please contact Patrick Brennan at The Chamber of Commerce Office 251.928.6387 extension 3141or BBT@eschamber.com.
|
|
