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Economic Impacts Brief: The Economic Development Return on Public Investment in Indian River County ............................................................................................................................................................................................................................. An Estimate of the Economic Development Return on Investment (EDROI) to Indian River County from Performance -Based Incentives Granted to Targeted Companies, 2007 -Present Indian River County provides multiple performance-based incentives to qualified targeted companies expanding in or relocating to the County. The purpose of these investments, based on shown results previously agreed by the companies, is to increase economic activity as well as to increase the standard of living for County residents and taxpayers through the resulting growth in Household Income. For the time period studied - 2007 to present - twenty jobs grants were awarded in IRC, as well as one tax abatement. Nine of those companies submitted the required documentation to receive their awarded funds and were targeted for this Brief. This, along with the annual investments made to the Chamber's economic development functions, represents the total investment made by the County to the overall economic development effort. When evaluating the EDROI from these incentives, it is critical that the entire range of economic development benefits to the community be considered. These benefits include those that can be quantified, primarily the Household Income generated by the funded companies' payroll and capital expenditures. Household Income for residents is the best measure for the standard of living. Secondly, the Fiscal Revenues to Indian River County arising from the increased economic activity are also considered. Based on these parameters, WEG estimated the EDROI utilizing a standard formula. This return compares the estimated County -wide Fiscal Revenues plus new Household Income generated to the total economic development public investment made to the qualified companies to produce these benefits. Data for these calculations were taken from the economic impacts previously presented, which estimates the recurring annual economic impacts of the companies in Indian River County receiving performance-based incentives. From the economic impacts presented, WEG estimated the Economic Development Return on Investment (EDR01) for the County. This return compares the County's ................................................................................................................................................................................................................................ The Washington Economics Group, Inc. (WEG) Page 110 7..4. )i.