Annual economic output pinpointed at $1.3 billion
The Round Rock Chamber of Commerce & Economic Development Partnership today released the results of an economic impact analysis that evaluated its economic development project wins from 2011 to 2014. 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. The results were presented today at the chamber’s annual investor meeting.
“This economic impact analysis provides third-party validation of the positive influence that our work is having on Round Rock,” said Jim Boles, Momentum chair. “It shows that our investors are seeing a real return on their investment, which is helping the economy in Round Rock and their businesses be successful.”
The analysis identified a number of positive figures that have greatly impacted the Round Rock community.
- During the time period analyzed (2011-2014), the chamber successfully completed thirty-four economic development projects.
- Through this year, those projects will generate an economic impact of $1.3 billion annually.
- The chamber secured 2,785 direct jobs, which generated $675 million in cumulative workers’ earnings.
- The total number of jobs created directly, indirectly, or through induced behavior was 4,631 for a cumulative workers’ earnings of approximately $941 million.
- 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 almost $11 million.
- For every $1 in Momentum funding (which includes the chamber’s contractual agreement with the City of Round Rock), $4,670 in economic output was produced.
- One new job is created per year with every $639 in Momentum funding
“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-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.
About the Round Rock Chamber of Commerce & Economic Development Partnership
The Round Rock Chamber of Commerce & Economic Development Partnership is one of the largest and most active business organizations in Central Texas. Its approximately 1,000 investors collectively employ more than 25,000 people in the area. It is also the region’s only accredited chamber by the U.S. Chamber of Commerce. For more information, visit www.roundrockchamber.org.