The Stitch Master Plan Appendices 1&2

DETAILED RESULTS The project team used IMPLAN to model the economic impact and evaluate direct, indirect, and induced impacts for jobs, labor income, economic output, and value add. The statistics in Section 2.1 are sums of direct, indirect, and induced impacts, and a detailed breakdown is provided in this section. The terms direct, indirect, and induced impacts refer to the different types of economic effects that arise from the Stitch project. In the context of this economic benefits study, these effects are centered around jobs, labor income, value added, economic output, and state and local taxes. ● Direct impacts are the immediate effects taking place on-site generated by different activities arising from the Stitch. ● Indirect impacts occur as a result of the supply chain interactions triggered by the direct activity. These are the secondary effects where businesses supplying goods and services to the direct industry see increased demand. ● Induced impacts refer to the changes in economic activity and employment resulting from the increased income of workers involved in the direct and indirect sectors. As employees spend their wages, they stimulate demand for goods and services in other areas of the economy. IMPLAN is a widely-used economic modeling software system designed to estimate the economic impacts of various activities or projects. It is a tool that uses input-output models to quantify how changes in one part of the economy ripple through the rest of the system. IMPLAN allows users to assess the direct, indirect, and induced impacts of an economic activity. This economic benefits study generated estimates of the economic effects in terms of output, employment, income, and taxes using input assumptions such as (but not limited to): total construction costs of the Stitch, real estate development projects spurred by construction of the Stitch, and operations and maintenance costs associated with the Stitch. The following tables below detail the estimated direct, indirect, and induced impacts from different activities associated with the Stitch. JOBS

Jobs (Direct)

Jobs (Indirect)

Jobs (Induced)

Total Jobs

Construction of Stitch (Phase 1 – 2026 to 2029)

655 (aggregate)

95 (aggregate)

134 (aggregate)

885 (aggregate)

1,359 (aggregate)

1,834 (aggregate)

Construction of Stitch (Phase 2 – 2030 to 2032)

198 (aggregate)

278 (aggregate)

1,345 (aggregate)

1,816 (aggregate)

Construction of Stitch (Phase 3 – 2033 onwards)

196 (aggregate)

275 (aggregate)

O&M of Stitch

60 (per year)

16 (per year)

8 (per year)

84 (per year)

K-54

Made with FlippingBook Ebook Creator