Minutes 2012 - Laserfiche WebLink

Home Browse Search

environment where the policy decisions of other redevelopment commissions are brought into question. This economic impact model is designed to address the idiosyncrasies of the economic impact of wastewater utility investment by the MRC. Wabash Scientific,inc.,has not attempted to quantify the economic impact Mille MRC's success in capturing specific industries,but we can attempt to do so,if the MRC thinks it is appropriate. Additional Economic Impact Analysis Can Be Provided The economic impact analysis offered above seeks only to illustrate the community-wide benefit That has been realized as a result of the MRC's policies related to wastewater utility investment. While the above analysis was not intended to be exhaustive, it should be clear to even the most lay readers that the MRC's policies in this regard have repaid the community in direct financial terms. The direct savings to individual persons generates a multiplier effect through the local economy as individuals buy more and save as a result of the cost savings, which, in turn, supports other commercial enterprises. In our view,this was the original and the consistent intent of the statutes and the MRC is to be applauded lie its effort and wisdom. A similar(but different) impact analysis could be generated for the MRC's investment in direct manufacturing projects. Then MRC's investment in manufacturing incentives generates wages directly to individuals,which then multiply through the local economy,with an amplified direct impact that exceeds the economic impact of utility cost reductions. The jobs created/captured as a result of the MRC incentives support the regional economy beyond the limits of Mooresville. Given that standard 'employment commute' times in the area range around 20 minutes,it would be logical to expect that most of the employees in Mooresville's industries are located within 20 miles. Generally speaking,only about 50%of those jobs arc filled by Mooresville residents. As such,the economic impact of the wages generated by the,jobs captured/created in Mooresville stretches deeply into Marion,Johnson, Morgan,and Hendricks counties. The residency of Muse employees,individually,tends to dictate some of their individual spending patterns,and only a detailed analysis of the employment rolls would be sufficiently specific as to be useful in measuring economic impact. We don't find that additional specificity to be sufficiently meaningful in this case to justify the cost of the analysis. The conclusion to he drawn from any measurement of the economic impact of manufacturing employment created/captured by the MRC is to note that those manufacturing jobs represent the economic anchors for literally hundreds of citizens of four counties,within 20 miles of Mooresville. As such,the MRC has established Mooresville as an employment center which is beginning to approach'regional impact,'due to its success. ' The combination of jobs created/captured and the economic impact of the MRC's investment in the Town's sewer utility thereby generate multi-level economic impacts on the community and the region. 13Mooresville Economic Development&Redevelopment Plans:2012 Amendment (draft,June 27,2012) 1