Annual economic output calculated at $3.3 billion
The Round Rock Chamber today released the results of an economic impact analysis that evaluated its economic development project wins from 2012 to 2019. The analysis, which was performed by Impact DataSource, looked at the performance of the chamber’s work through Momentum, its public-private partnership that funds its economic development efforts.
“We continue to develop a competitive business climate where we can all grow by bringing in high-paying jobs and diversifying the industries we have in Round Rock,” said Ryan Therrell, Momentum chair. “This analysis validates that we are working to proactively strengthen prosperity in our community.”
A number of positive figures that have greatly impacted the Round Rock community have been identified.
- During the period analyzed (2012-2019), the chamber provided assistance to sixty-five new or existing businesses.
- Through 2019, those projects will generate an economic impact of $3.3 billion annually.
- Capital investment over this period totaled over $1 billion.
- The chamber secured 6,244 direct jobs, which generated $1.7 million in cumulative workers’ earnings.
- The total number of jobs created directly, indirectly, or through induced behavior was 10,071 for cumulative workers’ earnings of $2.45 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 eight-year analysis period equals over $97 million.
- For every $1 in Momentum funding (which includes the chamber’s contractual agreement with the City of Round Rock), $4,713 in economic output was produced.
- One new direct job is created per year with every $1,081 in Momentum funding.
The full analysis can be viewed here.
“At our core, we believe that a strong economy in the community of Round Rock will create new opportunities for business, individuals, and families to achieve greater potential and improve their quality of life,” said Jason Ball, the chamber’s president and CEO. “Round Rock continues to top the list for best performing cities in the nation because of the intentional work of our economic-generation work.”
According to Impact DataSource, the results generated by chamber-assisted projects are examples of what a focused economic development effort can accomplish for the benefit of the entire community. Impact DataSource has more than twenty-five years of economic analysis, research, and consulting experience and is based in Austin, Texas.