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Economic Impacts Brief: The Economic Development Return on Public Investment in Indian River County ............................................................................................................................................................................................................ Table 1. Summary of the Economic Impacts on Indian River County Generated by Public Incentives (2007 - Present) by runic incentives e,. L, _ -- � .; ;.. 4 •'�' t',-,,,, `:�'7h`- "�, J (3-'lSll�l.i � r C� ,-- .,�-,•, Employment (Jobs) 337 — 302 639 Household Income ($ Million) $28 l__ _ 205 $15 $42 Gross Domestic Product (Value Added $ Million) _ $55 —_- $24� $79 Federal, State & Local Tax Revenues ($ Million) -- - $16 Total Economic Impact ($ Million) $158 $41 $198 Note: Total may not equal the sum of all due to rounding. Source: The Washington Economics Group, Inc. (WEG): j Note: Total may not equal the sum of all due to rounding. II ... TL_ 1A1. 1� .,,,r.,., G'— —irc rrmin Inr- (WFG) The number of jobs created in each economic sector by the County's performance-based incentives is summarized in Table 2 below. Of the 639 jobs supported by these operations, 34 percent are in the Manufacturing sector, 32 percent are in Knowledge -Based Services sector, and the remaining 34 percent distributed among other economic sectors. Table 2. Total jobs on Indian River County Supported by runic incentives ` (2007 - Present) Manufacturing _ - _-217 34% Knowledge -Based Services' - l__ _ 205 32% Government & Other I ^ 1- 123 19% Retail Trade 34 5% Wholesale Trade &Transportation Services ------------- ----� Visitor Industry 29 5% ---I - ---_ 5 1% Other Industries %1 ,yam. 'Fe ••., 77, .,•i, ;-i"'-1, t -_ *y �`:' ;.r 'iy''r'-''';y;.ERE] j Note: Total may not equal the sum of all due to rounding. II ... TL_ 1A1. 1� .,,,r.,., G'— —irc rrmin Inr- (WFG) This distribution of jobs reflects the knowledge -intensive nature of the industries targeted for public incentives in IRC and are key generators of sustainable high - wage occupations, leading to the expansion of economic opportunities for County residents over time. `Major industries under this category are: Information, Finance and Insurance, Real Estate, Professional, Administrative Services and Arts, Entertainment & Recreation. ...................................................................................................................................................................Page...... The Washington Economics Group, Inc. (WEG)