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Economic Impacts

Economic and Fiscal

  • The plan will yield at least $2,575,000 net annual increase in ongoing city general fund revenues. General fund revenues pay for things like police, fire service and parks.
  • Although this is a conservative estimate that is less than projected by proponents, it is still a very significant positive net increase to the city (net increase includes projected revenue minus expected increase to city costs for services).
  • City estimate does not include any moneys estimated for tourism impacts, since there is no accepted methodology for estimating this.
  • Any revenue generated from increased tourism resulting from the plan (primarily increased hotel room nights and thus increased TOT to city) will be in addition to the $2,575,000 per year to city.
  • By using a conservative estimate, if the city’s numbers are wrong, the city will see an even greater economic benefit.
  • Property taxes will automatically go up once the outstanding debt obligations of the former Carlsbad redevelopment areas are paid off.

Employment

  • During construction, the Environmental Analysis submitted with the plan, using the proprietary economic impact model IMPLAN, estimates that the plan will generate approximately 4,485 to 4,974 full-time equivalent (FTE) construction related jobs, approximately $284 to $315 million in labor income (wages) and approximately $626 to $698 million in economic output (spending) in the region through direct, indirect, and induced economic activity.
  • From ongoing operations of the plan area after completion and stabilization, the Environmental Analysis estimates that the plan will generate approximately 2,298 to 2,440 FTE jobs, approximately $102 to $108 million in labor income and approximately $392 to $624 million in economic output annually in the region through direct, indirect and induced economic activity. 

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