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SECTION III <br />RECURRING ANNUAL AND ONE - <br />aTIME ECONOMIC IMPACTS <br />www.FinanceDTA.com <br />business owners. The Quarterly Census of Employment and Wages ("CEW") <br />published by the Bureau of Labor Statistics is the primary source of <br />employment and income data for IMPLAN. <br />■ "Other Value Added" encompasses other property income, such as the <br />consumption of capital investment, profits, royalties, dividends, interest <br />impacts, and taxes on production and imports. The primary sources of Other <br />Value Added are taxes on production and imports net of subsidy and Gross <br />Operating Surplus ("GOS") data at the 3-digit NAICS level released by the <br />Bureau of Economic Analysis. <br />■ "Intermediate Inputs" include purchases of non -durable goods and services <br />used for the production of other goods and services within a project, rather <br />than for final consumption. Intermediate Inputs equal the Total Economic <br />Output minus the sum of Labor Income and Other Value Added. <br />Total Economic Output within the City and County will increase substantially as a <br />result of the development of the Project and can be estimated based on the different <br />types of development projected to occur. As previously stated, this Study analyzes <br />direct, indirect, and induced impacts. With regard to direct impacts, the economic <br />output reflects the initial or first -round increases in the total value of all goods and/or <br />services produced (total spending/gross receipts, plus the Labor Income listed in <br />Table 6 and other incomes/taxes), all of which occur directly on the Project site. <br />Indirect/induced economic impacts are the secondary and other additional rounds <br />of economic activity that occur due to the direct output impacts and can take place <br />outside of the boundaries of the Project site. The indirect impacts represent <br />economic activity, specifically the buying and selling of goods and services, of <br />suppliers and/or supporting businesses. The induced impacts represent economic <br />activity that results from household spending by employees of all companies directly <br />and indirectly affected by the Project. Please refer to Figure 3 for a graphical <br />representation of the indirect and induced effects. <br />The generation of 949 new jobs in the County will increase the payrolls collected by <br />County and City residents who are holding these jobs, which were estimated <br />utilizing the IMPLAN Study Model. As summarized in Table 6 and listed in detail in <br />Appendix A, the jobs to be generated by the Project will provide Labor Income <br />ranging from an average of $133,608 per year for Surgical and Medical Instrument <br />Manufacturing Sector jobs in Buildings 1 and 2 to an average of $192,289 per year for <br />Electromedical and Electrotherapeutic Apparatus Manufacturing Sector jobs in <br />Building 3. This would result in an average income of $148,520 per direct FTE <br />employee on -site and an average Labor Income of $124,541 per job if we also include <br />both indirect and induced jobs. Total aggregate Labor Income paid to all direct, <br />indirect, and induced employees for the Project will equal $108.0 million within the <br />County, with $85.5 million of the income generated within the City. The total direct <br />South Coast Technology Center Project May 13 2024 <br />Economic Impact Study <br />110 <br />