16
2022 Utah-MEP Economic Impact Report
The 1,733 jobs reported were equivalent to $585.5 million in output. This added to the $0.2 million of output reported by companies only reporting output and an additional $62.2 million in output reported by companies that could not be explained by their reported jobs, resulting in a total $647.8 million in direct effects for output shown in Table 5. Table 5 shows the total economic impact of UTAH-MEP work with CMEs/ORBs in 2022. UTAH-MEP activity directly supported 2,036 jobs that would not have otherwise existed, and indirectly supported an additional 2,685 jobs. These jobs generated $295 million in total labor income. The total increase in output with the multiplying effect associated with this activity was $1,163 million.
Table 5. 2022 Direct, Indirect, and Induced Impacts of UTAH-MEP Impact Type
Employment
Labor Income
Total Value Added
Output
Indirect Business Tax
Direct Effect
2,036*
$144,017,800
$214,091,064
$647,843,328
$4,711,905
Indirect Effect
1,378
$88,687,393
$136,526,270
$302,180,109
$7,733,702
Induced Effect
1,307
$61,879,371
$118,170,373
$212,764,183
$10,063,381
Total Effect
4,721
$294,584,564
$468,787,707
$1,162,787,620
$22,508,988
Multiplier
2.3
2.0
2.2
1.8
* CMEs/ORBs reported 1,733 additional or retained jobs. The additional 303 jobs are associated with additional or retained sales (output) that could not be explained by the jobs reported.
Figures 7 and 8 illustrate the direct and total effects of UTAH-MEP involvement with CMEs/ORBs on both employment and output.
Figure 7. 2022 UTAH-MEP Employment Impacts
2,036 0
1,000
2,685 2,000
3,000
4,000
Direct Employment
Indirect and Induced Employment
Direct Output
Indirect and Induced Output
5,000
Employment Impacts Figure 8. 2022 UTAH-MEP Output Impacts
$648M 0
200
400
$515M 600
800
Output Impacts
1,000
1,200