Annual economic output pinpointed at $2.4 billion
The Round Rock Chamber today released the results of an economic impact analysis that evaluated its economic development project wins from 2012 to 2017. The analysis, which was performed by Impact DataSource, looked at the performance of the chamber’s work through Momentum, its five-year public-private partnership that funds its economic development efforts.
“This economic impact analysis provides third-party validation of the tremendous influence that our work is having on Round Rock,” said Ryan Therrell, Momentum chair. “When we work together, we develop a more competitive business climate where we all grow together.”
The analysis identified a number of positive figures that have greatly impacted the Round Rock community.
- During the time period analyzed (2012-2017), the chamber successfully completed fifty economic development projects.
- Through 2017, those projects will generate an economic impact of $2.4 billion annually.
- The chamber secured 5,261 direct jobs, which generated $980 million in cumulative workers’ earnings.
- The total number of jobs created directly, indirectly, or through induced behavior was 8,273 for a cumulative workers’ earnings of approximately $1.4 billion.
- The additional revenue for the community’s three main taxing entities (i.e., City of Round Rock, Williamson County, and Round Rock Independent School District) during the four-year analysis period equals over $53 million.
- For every $1 in Momentum funding (which includes the chamber’s contractual agreement with the City of Round Rock), $5,411 in economic output was produced.
- One new job is created per year with every $827 in Momentum funding.
The full analysis can be viewed here.
“As the economic-generator for Round Rock, our goal is to provide value to our investors each and every day and these results affirm that our work is doing exactly that,” said Ben White, the chamber’s vice president of economic development. “Due to the pro-business mindset of our community, we fully expect the next four years to be equally as successful; if not more so.”
Impact DataSource is a twenty-four-year-old economic analysis, research, and consulting firm based in Austin, Texas. It has conducted over 2,500 economic impact analyses of projects across the country.