Laserfiche WebLink
Overall Impact: <br />➢ $2,478,050 increase in annual earnings, based on a 1.45 multiplier for the <br />manufacturing industry <br />➢ An increase of 84 Jobs, using an industrymultiplier of 1.68 <br />Though the newly created jobs will result in only <br />34 additional direct, indirect and induced jobs, <br />the Effect on Earnings from adding 50 jobs is <br />much more significant: <br />• An $1.7M initial impact (multiplier of 1.0) — <br />estimated salaries multiplied by the number <br />,of anticipated new jobs <br />• $256,350 direct impact on earnings (.15 <br />multiplier) <br />• $68,360 indirect impact (.04 multiplier) <br />• $444,340 Induced (.26 multiplier) <br />Local Services and Vendors <br />For a new company coming in to the local marketplace such as this, payments <br />and purchases applying to the basic operations of the business and property are <br />added benefits to our local economy. Those local services can include areas <br />such as: <br />• Banks and Professional Services, i.e. CPAs, attorney firms <br />• Basic facility upkeep and maintenance such as janitorial and grounds/lawn <br />maintenance <br />• Purchases of maintenance and office supplies <br />• Continued education and training <br />Conclusion <br />Diamond Drinks of Florida's expansion into Indian River County brings both <br />tangible and intangible positive economic attributes that advance our county's <br />goals for economic diversification, job creation and positive economic impact. <br />The tax exemption will not erode the current tax base. There are no homeowner <br />subsidies and there is no reduction or elimination of current taxes on real <br />property. There would be an immediate increase in tax revenues for schools and <br />special taxing districts, and the full tax revenues would be received following the <br />exemption period. <br />31 <br />