2019 Economic Impact
These economic impacts take the key metrics of a new project (capital spent, employees hired, etc.) and translates those metrics into ripple effects of jobs, employee compensation and sales in our region. This has allowed us to paint a dynamic picture of what effects primary-sector projects have in the short term with construction and capital spending and long term with on-going operations.
The best part? These effects are seen across all sectors in the FM MSA with new jobs, wage growth and increased sales to both main street and primary-sector businesses.
In the example below, the EDC’s successful projects in the primary sector spurred additional spending in main street sectors of local businesses. Interested in the impact of our 2020 projects? Stay tuned for an update after our project numbers are finalized at the end of the year.
*Source for Impact Data: Bangsund, Dean A. 2019-2020. Analysis of Recent GFMEDC Business Expansions on FM Area Economy