Economic Impact Scenario Year 2016
Prepared by Next Move Group and The University of Southern Mississippi
Table of Contents Executive Summary 2016 Industry Analysis Impact Scenario-Industries Aggregate Changes in Industry Occupation Changes (Scenario Results) Impact Scenario-Capital Investment Aggregate Changes in Local Economy Appendix A- Data Sources and Calculations
St. Louis, MO 504.648.7716
Hattiesburg, MS 601.266.6666
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Executive Summary NETWORKS Sullivan Partnership announced 1,474 new jobs in Sullivan County in 2016 via the below announcements. Based on research from the University of Southern Mississippi’s Economic Development Research Center, an additional 610 jobs will be created as “spin off” jobs from those announced. This 610 job “spin off” projection is calculated based on the aggregate change to an overall economy based on new job creation via conservative, widely accepted multipliers. For this study, the projection is the change in “spin off” jobs for the Tri-Cities Region as a whole. The total jobs expected to be created as a result of these direct announcements and the “spin off” jobs attributable to them come to 2,084 jobs with over $67 million in dollars per year expected to be spent in your economy via new wages. Research by the Next Move Group comparing NETWORKS Sullivan Partnership to similar organizations, in terms of the population they represent and distance to a top-50 major metro area, found NETWORKS Sullivan Partnership to be in the top-5% of similar organizations east of the Mississippi River in terms of new wages expected to be created in their respective economies, and the top-10% of similar organizations east of the Mississippi River in the nation in terms of total jobs expected to be created in their respective economies during 2016, based off published announcements of new and expanding industries in the USA.
2016 Industry Announcements
Impact Scenario-Capital Investment
Appendix A- Data Sources and Calculations Input-Output Data
The input-output model in this report is Emsi's gravitational flows multiregional social account matrix model (MR-SAM). It is based on data from the Census Bureau's Current Population Survey and American Community Survey; as well as the Bureau of Economic Analysis' National Income and Product Accounts, Input-Output Make and Use Tables, and Gross State Product data. In addition, several Emsi in-house data sets are used, as well as data from Oak Ridge National Laboratory on the cost of transportation between counties.
State Data Sources
This report uses state data from the following agencies: Tennessee Department of Labor and Workforce Development, Research and Statistics Division; Virginia Employment Commission, Economic Information Services.