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ta <br />www.FinanceDTA.com <br />SECTION I <br />EXECUTIVE SUMMARY <br />DTA used the web application of the Impact Analysis for Planning CIMPLAN") economic <br />modeling system for its analysis. IMPLAN is a nationally recognized input-output model <br />that can be used to estimate the impacts of new development on the economy through <br />the use of an economic multiplier analysis that is applied to individual counties (e.g., <br />Orange County). The economic multipliers are based on a proprietary model that inputs <br />a series of extensive databases, local economic factors, and demographic statistics. A <br />more detailed discussion regarding the IMPLAN model, as well as the conclusions <br />described in this Executive Summary and assumptions and methodology utilized to <br />reach these conclusions, may be found in Sections II -IV of the Study. <br />C Recurring Economic Impacts of the Project <br />As shown in Table 1, the annual recurring economic impacts of the Project on the City <br />will be substantial. First, the Project is anticipated to create 425 permanent Full -Time <br />Equivalent ("FTE") jobs on -site. In addition, the Project is expected to generate <br />262 permanent recurring indirect and induced full-time/part-time jobs off -site within the <br />City, for a total of 687 jobs. As the City's total current workforce consists of <br />141,545 employees, FTE and part-time employees holding these additional jobs will <br />constitute a 0.49% increase in the size of the City's current workforce. The total Labor <br />Income associated with these new jobs will equal $63.1 million generated annually <br />directly on -site, plus $22.4 million off -site Citywide, for a total increase in Labor Income <br />of $85.5 million annually within the City. Finally, adding in $54.0 million in Other <br />Value -Added revenues and $116.5 million in Intermediate Inputs yields a total recurring <br />Citywide economic output of $256.1 million per year from the Project, which represents <br />a considerable boost to the City's economy. <br />Table 1: Project's Total Recurring Annual Impacts on the City <br />- Mmmm <br />9 - <br />_ _ <br />Employment <br />425 <br />262 <br />687 <br />Overall Economic Output <br />$195,213,681 <br />$60,921,643 <br />$256,135,324 <br />Labor Income <br />$63,120,866 <br />$22,420,892 <br />$85,541,758 <br />Other Value Added <br />$38,616,322 <br />$15,432,424 <br />$54,048,746 <br />Intermediate Inputs <br />$93,476,494 <br />$23,068,326 <br />$116,544,820 <br />Note: All numbers are subject to rounding. <br />D One -Time Economic Impacts of the Project <br />Similarly, as reflected in Table 2 below, the one-time economic impacts from the <br />construction of the Project on the City will also be significant. First, the Project is <br />anticipated to create 457 FTE construction jobs on -site. In addition, the Project is <br />expected to generate 98 indirect and induced full-time/part-time jobs off -site within the <br />City, for a total of 555 one-time jobs within the City. The total Labor Income associated <br />with these added employees will equal $38.0 million directly on -site, plus $7.3 million <br />off -site but within the City, for a total increase in Labor Income of $45.3 million Citywide <br />South Coast Technology Center Project May 13 2024 <br />Economic Impact Study <br />El <br />