18.3 Chapter 13 Report to Convert Into APA Format (solution)

18.3 Chapter 13 Report to Convert Into APA Format...

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ECONOMIC IMPACT OF COCONINO INDUSTRIAL PARK 1 Economic Impact of Coconino Industrial Park on the City of Flagstaff Sylvia Hernandez Del Rio Industrial Consultants
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ECONOMIC IMPACT OF COCONINO INDUSTRIAL PARK 2 Abstract 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. Our conclusion that the city of Flagstaff benefits from industrial parks is based on data supplied by a survey of 5,000 Coconino Industrial Park employees, personal interviews with managers and tenants of CIP, city and state documents, and professional literature. Analysis of the data revealed benefits in three areas: revenues, employment, and indirect benefits. The city of Flagstaff earned nearly $2 million in tax and other revenues from the Coconino Industrial Park in 2009. By 2015 this income is expected to reach $3.4 million (in constant 2009 dollars). In 2009 CIP businesses employed 7,035 workers, who earned an average wage of $56,579. By 2015 CIP businesses are expected to employ directly nearly 15,000 employees who will earn salaries totaling over $998 million. Because of the multiplier effect, by 2015 Coconino Industrial park will directly and indirectly generate 38,362 jobs in the Flagstaff metropolitan area. On the basis of these findings, it is recommended that development of additional industrial parks be encouraged to stimulate local economic growth. The city would increase its tax revenues significantly, create much- needed jobs, and thus help stimulate the local economy in and around Flagstaff.
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ECONOMIC IMPACT OF COCONINO INDUSTRIAL PARK 3 Economic Impact of Coconino Industrial Park on the City of Flagstaff This study was designed to analyze the direct and indirect economic impacts of Coconino Industrial Park on the city of Flagstaff. Specifically, the study seeks answers to these questions: What current tax and other revenues result directly from this park? What tax and other revenues may be expected in the future? How many and what kinds of jobs are directly attributable to the park? What is the employment picture for the future? What indirect effects has Coconino Industrial Park had on local employment, incomes, and economic growth? Background: The Role of CIP in Commercial Development The development firm of Goldman-Lyon & Associates commissioned this study of Coconino Industrial Park at the request of the Flagstaff City Council. Before authorizing the development or a proposed Goldman-Lyon industrial park, the city council requested a study examining the economic effects of an existing park. Members of the city council wanted to
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18.3 Chapter 13 Report to Convert Into APA Format...

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