AG 2011 12 19 - Laserfiche WebLink

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Draft 1.1 -- Not for Distribution or Circulation Chart 12 shows all the additional taxes that would be collected at the state and local level with a 25% shift. These total $61 million per year, which underscores that some level of state and local investment under $61 million per year to achieve the 25% shift would pay for itself. Chart 12 Additional State & Local Taxes from a 25% Shift Employee Taxes $823,637 Indirect Business Taxes $34,198,492 Households $12,320,931 Corporations $13,846,779 $61,189,839 A more detailed sector -by- sector view of the results, alongside existing jobs in Cabarrus, is presented in Chart 13. The three sectors where the largest number of new jobs are possible are professional services (1,917), banking and finance (987), and entertainment, restaurants, and tourism (799) —all sectors identified as especially leaky in the simple leakage analysis. About two thirds of all new jobs are service related, many well paying. The third column of Chart 13 shows the percentage increase a 25% shift would effect on each sector. As one would expect, in some sectors that increase will be somewhat greater than 25 %, and in others somewhat less. The highest shift envisioned is actually in farming and agriculture and in wood products. Charts 14 and 15 show the top 40 leak- plugging sectors by jobs and earnings again, as we did with the simple leakage analysis. Chart 16 organizes all the job- creating sectors together into ten recognizable clusters, and displays the top job producers in each category. The picture that emerges from IMPLAN is quite similar to what the simple leakage analysis shows. Specifically: • Local Food – Since NAICS does not capture farmers, the agricultural jobs are new here. The biggest sources are fruit farming (84 direct jobs), grain farming (53), tree nut farming (46), and animal production (35). Also, there are opportunities for poultry processing (42), bakery products (27), and more supermarkets (35). While "commercial fishing" (21) would not really be possible – Cabarrus is land -bound – aquaculture and aquaponics, growing tilapia for example, are. • FIRE – FIRE stands for finance, insurance, and real estate. There are enormous opportunities for new, high - paying jobs for selling insurance (237 direct jobs) and securities (175), intermediating credit (72), and running trusts (51). New jobs are also available for local sellers of real estate (147). 6 Note all the numbers in this section represent direct jobs, and do not include indirect and induced jobs. 25 Attachment number 1 1 -4 Page 327