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SECTION I
<br />ta
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<br />EXECUTIVE SUMMARY
<br />on a one-time basis. Finally, adding in $6.9 million in Other Value -Added revenues and
<br />$32.4 million in Intermediate Inputs yields a total one-time Citywide economic output
<br />for the Project of $84.66 million, which represents a considerable boost for construction
<br />within the City. Notably, the one-time construction output represents the aggregate
<br />outputs generated during the overall Project construction period, which could span over
<br />more than one year.
<br />Table 2: Project's One-Time/Construction Impacts on the City
<br />One ..
<br />-.
<br />Employment
<br />457
<br />98
<br />555
<br />Overall Economic Output
<br />$63,500,000
<br />$21,159,774
<br />$84,659,774
<br />Labor Income
<br />$38,002,669
<br />$7,346,977
<br />$45,349,646
<br />Other Value Added
<br />$1,126,141
<br />$5,802,880
<br />$6,929,022
<br />Intermediate Inputs
<br />$24,371,189
<br />$8,009,916
<br />$32,381,106
<br />Note: All numbers are subject to rounding.
<br />E Jobs -Housing Balance
<br />The jobs -housing balance is an indicator of the relative equilibrium between
<br />employment and housing opportunities in a given area. A positive balance between jobs
<br />and housing has a beneficial impact on a municipality by decreasing costs associated
<br />with commuting and traffic congestion. It also reduces commute times, improves local
<br />social, cultural and family involvement, provides a more attractive work/life balance to
<br />residents, and generates savings to local public agencies in terms of the need to construct
<br />and maintain new road improvements and other facilities.
<br />As reflected below in Table 3, the City's current ratio of jobs within the City as
<br />compared with the number of housing units Citywide is 1.725, exceeding the
<br />Statewide average of 1.260. The addition of 687 new jobs through the construction
<br />of the Project would increase this ratio to 1.733. A more detailed explanation of this
<br />metric is included in Section IV of this Study.
<br />Table 3: Pre -Project and Post -Project Jobs -Housing Balance
<br />s- . .
<br />I
<br />Number of Jobs
<br />141,5451
<br />142,232 18,537,400
<br />Number of Housing Units
<br />82,058
<br />82,058 14,707,698
<br />Existing2
<br />82,058
<br />82,058 14,707,698
<br />New
<br />N/A
<br />0 0
<br />Jobs -Housing Balance
<br />1.725
<br />1.733 1.260
<br />1 Spotlight by Environics Analytics, Employment Profiles by NAICS Code 2023.
<br />2 Labor Market Information Division, State of California Employment Development Department.
<br />South Coast Technology Center Project May 13 2024
<br />Economic Impact Study
<br />5
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