VALUE ADD (EQUIVALENT TO GROSS PRODUCT OR GDP) During the 30-year study period, which includes the 11-year Stitch construction, redevelopment in multiple phases, and the subsequent operations and business growth, value added from such an investment is estimated to be an average of $560 million per annum, representing a Net Present Value of $6.2 billion in the 30-year period.
Figure K.38 : Economic Impact from Value Added Growth
• Construction activities associated with the Stitch and surrounding real estate are projected to create approximately: o $84 million in value added per year on average during the construction of the Stitch (from 2026 to 2036); o $290 million in value added 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 $17 million in value added per year on average from operations and maintenance of the Stitch (from 2030 to 2036) and then eventually $29 million in value added in 2037 (with more in the subsequent years accounting for inflation); o Initially $15 million in value added per year on average from the growth of existing businesses due to increased foot traffic (from 2030 to 2038) and then eventually $31 million in value added in 2039 (with more in the subsequent years after accounting for inflation); and o $209 million in value added per year on average from the growth of business in new real estate developments (from 2030 to 2048) and then eventually $461 million in value added in 2049 (with more in the subsequent years after accounting for inflation).
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