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18.2 Chapter 13 Report to Convert Into APA Format (class exercise)

18.2 Chapter 13 Report to Convert Into APA Format (class exercise)

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ECONOMIC IMPACT OF COCONINO INDUSTRIAL PARK ON THE CITY OF FLAGSTAFF Presented to The Flagstaff City Council Flagstaff, Arizona Prepared by Sylvia Hernandez Senior Research Consultant Del Rio Industrial Consultants January 10, 2011
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DEL RIO INDUSTRIAL CONSULTANTS 110 West Route 66 www.delrio.com Flagstaff, Arizona 86001 (928) 774-1101 January 12, 2011 City Council City of Flagstaff 211 West Aspen Avenue Flagstaff, AZ 86001 Dear Council Members: The attached report, requested by the Flagstaff City Council in a letter to Goldman-Lyon & Associates dated October 20, describes the economic impact of Coconino Industrial Park on the city of Flagstaff. We believe you will find the results of this study useful in evaluating future development on industrial parks within the city limits. This study was designed to examine economic impact in three areas: Current and projected tax and other revenues accruing to the city from Coconino Industrial Park Current and projected employment generated by the park Indirect effects on local employment, income, and economic growth. Primary research consisted of interviews with 15 Coconino Industrial Park (CIP) tenants and managers, in addition to a 2010 survey of over 5,000 CIP employees. Secondary research sources included the annual budget of the city of Flagstaff, county and state tax records, government publications, periodicals, books, and online resources. Results of this research, discussed more fully in this report, indicate that Coconino Industrial Park exerts a significant beneficial influence on the Flagstaff metropolitan economy. We would be pleased to discuss this report and its conclusions with you at your request. My firm and I thank you for your confidence in selecting our company to prepare this comprehensive report. Sincerely, Sylvia Hernandez Sylvia Hernandez Senior Research Consultant SMH: mef Attachment TABLE OF CONTENTS
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EXECUTIVE SUMMARY ........................................................................................................... iv INTRODUCTION: COCONINO AND THE LOCAL ECONOMY ............................................ 1 BACKGROUND: THE ROLE OF CIP IN COMMERCIAL DEVELOPMENT ......................... 1 DISCUSSION: REVENUES, EMPLOYMENT, AND INDIRECT BENEFITS ......................... 2 Revenues ..................................................................................................................................... 2 Sales and Use Revenues ....................................................................................................... 3 Other Revenues .................................................................................................................... 3 Projections ............................................................................................................................ 3 Employment ................................................................................................................................ 3 Distribution ......................................................................................................................... 3 Wages .................................................................................................................................. 4 Projections ........................................................................................................................... 5 CONCLUSIONS AND RECOMMENDATIONS .......................................................................... 5 REFERENCES ................................................................................................................................ 6 LIST OF FIGURES Figure 1 Revenues Received by the City of Flagstaff From Coconino Industrial Park………...….. 2 2 Employment Distribution of Industry Groups………………………………...………….. 4 3 Average Annual Wages by Industry Groups ………………………………………...……4
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EXECUTIVE SUMMARY The city of Flagstaff can benefit from the development of industrial parks like the Coconino Industrial Park. Both direct and indirect economic benefits result, as shown by this in-depth study conducted by Del Rio Industrial Consultants. The study was authorized by the Flagstaff City Council when Goldman-Lyon & Associates sought the city council’s approval for the proposed construction of a G-L industrial park. The city council requested evidence demonstrating that an existing development could actually benefit the city.
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