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    Scott Atkinson
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    Advocate Drum's Regional Economic Impact Statement for Fort Drum, 2020

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    Advocate Drum's Regional Economic Impact Statement for Fort Drum, 2020

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    976 views7 pages

    2020 Regional EIS

    Uploaded by

    Scott Atkinson
    Advocate Drum's Regional Economic Impact Statement for Fort Drum, 2020

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    of 7
    ADVOCATEDRUM FW rum Regional Liaison Organization 2020 Fort Drum Regional Economic Impact AReport on the Direct, Indirect, and Induced Impacts of Fort Drum Spending for the Federal Fiscal Year Ending September 30, 2020. ‘The Mode ‘The Fort Drum Regional Lalson Organizations economic impact model for Fort Drum spending san IMPLAN based ‘mode developed bythe Economie Development Research Group, ne, Boston, MA. The models maltained by the Jefferson Count Panning Department, which inputs the data. The inputs are provided by Fert Drum in itsannual Economic impact Statement, which reports spending in several categories. In caleuatng the economic outputs the ‘model identifies direct impacts by sector and then develops ase of indirect and induced impacts by sector through the use of industry specific mukipirs, local purchase coefficients, income:-to-output ratios, demographic patterns, and ‘other factors and relationships. ‘Types ofimpacts: Direct impacts The direct economic effects comprised of 1) parol (military and clan on-post employees, cling contract workers) spent bythe US Department of Defense, and 2} non-payal outside) pending by the Department of Defense to vendors providing goods and services to Fort Drum, Indirect impacts The indirect economic effects are adltional busines sales, of site Jobs. and income supported by Fort Drums non-payrll expenditures for services and supplies. The magnitude ofthe ttaindiect effet depends on the types of purchases made andthe extent to which those purchases go to businesses located within the region. Induced impacts ~The economic result from re-spending ofthe wages assocated with drect and indirect employment. [As workers re-send their Income on consumer purchases, they generate business sales and employment in other sectors of the economy. Fort Drum Direct Effects Fort Drum Payroll | Outside Spending Goods & Services oe Indirect Effects ‘Sales of supplies and servces to these offsite vendors ‘obs supported at offsite vendors and their supers. Induced Effects Re-spending of Direct + Indirect Worker Income Fort Drum Regional Economic Impact - FFY 2020 Presenting the results ofthe Fort Drum Regional Economic Impact Model Direc ross Output $millons) $418.4" $0076 $1,260 RP ($milions) $068.0 $2679 sages bor Earnings (Smilions) __$ 3,068.0 $2206 $12896 ployment 15.910 6058 24,968 “irc toto! may not mtch deta pubised by Fort Dram due to tobulton vrs ‘ress Oto, GR, ond Labor Eomng oe ateratve ews of the sme economic pots and comet be aed togetier ‘Te-County impacts - Fort Drum Regional Economic Impact Model ‘he TH-County economic impacts are estate sing an MPLAN nput\cutpet moling ol develops by Economic Development Research Grup, ne under conrat with the Advocate Drum. Multiples ace the impact of mtary and ein pols wal as Fert rum construction nd on-construton expenditures tough he eloal ear So what does this mean? Direct impacts are comprised of payol for military and civilian on-post employees, including contract workers, and non-payl spending by Fort Orum to vendors providing goods and services to Fort Dum. Inia Impocts are addtional, of bse jobs and income supported by Fort Drums purchasing f series and suples rom businesses located within the repon. Last, Induced impacts are the re-spending of wages associated with both direct and indirect impacts. As workers respend ther income on consumer purchases, they generate business sls and ‘employment in other sectors ofthe economy. Gross Busines Output — Fort Orum’s payroll, construction, and non

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