Economic Impact
Job Impact
Every business stands to receive significant benefit from the successful implementation of this program.
|
Potential Area Impact of ADVANTAGE Manhattan |
| Number of New Primary Jobs |
2,000 |
| Primary Wage Rate Paid (hourly) |
10% above present average |
| Total Direct Payroll |
$47,840,000 |
| Total Payroll |
$83,241,600 |
| Total Jobs |
4,836 |
| Calculated Indirect Jobs Created |
2.836 |
|
Area Values |
| Personal Income 1 |
$58,269,120 |
| Disposable Personal Income 2 |
$49,651,117 |
| Net Personal Consumption Expenditures 3 |
$46,776,317 |
| Deposit Potential for Area Financial Institutions 4 |
$6,302,382 |
Proposal statistical information provided by the Economic Strategy Center, Inc., located in Atlanta, GA
1 Total payroll estimated leakage
2 Personal income less personal tax and non-tax payments
3 Percentage of disposable personal income less interest, personal transfer payments, and personal savings
4 Personal savings rate less deposit leakage estimate with area turnover (reserve requirement ratio) | This projected increase in employment by 2,000 primary jobs will correspondingly increase net personal consumption expenditures in the Manhattan area by more than $46 million annually that will benefit all service and retail sectors. When the goal of 2,000 new primary jobs is reached, the annual personal consumption will increase in the following areas:
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