ECONOMIC OUTPUT During the 30-year study period, which includes the 11-year Stitch construction, redevelopment in multiple phases, and the subsequent operations and business growth, economic output supported by such an investment is estimated to be an average of $840 million per annum, representing a Net Present Value of $9 billion in the 30-year period.
Figure K.37 : Economic Impact from Economic Output Growth
• Construction activities associated with The Stitch and surrounding real estate are projected to create approximately: o $127 million in economic output per year on average during the construction of the Stitch (from 2026 to 2036); o $452 million in economic output per year on average during the construction of new real estate (from 2026 to 2044) • Operational activities and businesses in the surrounding area are projected to support approximately: o Initially $27 million in economic output per year on average from operations and maintenance of the Stitch (from 2030 to 2036) and then eventually $46 million in economic output in 2037 (with more in the subsequent years accounting for inflation); o Initially $22 million in economic output per year on average from the growth of existing businesses due to increased foot traffic (from 2030 to 2038) and then eventually $47 million in economic output in 2039 (with more in the subsequent years after accounting for inflation); and o $365 million in economic output per year on average from the growth of business in new real estate developments (from 2030 to 2048) and then eventually $734 million in economic output in 2049 (with more in the subsequent years after accounting for inflation).
The economic impacts include direct, indirect, and induced impacts.
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