<a href=”http://4.bp.blogspot.com/_GhT_H049S1c/S8YkNdayTvI/AAAAAAAAADA/W5mP3SVUZz8/s1600/laedc_economic_impact_measure_r.jpg”><img id=”BLOGGER_PHOTO_ID_5460091411887181554″ style=”margin: 0px 10px 10px 0px; width: 400px; float: left; height: 374px; cursor: hand;” src=”http://4.bp.blogspot.com/_GhT_H049S1c/S8YkNdayTvI/AAAAAAAAADA/W5mP3SVUZz8/s400/laedc_economic_impact_measure_r.jpg” alt=”” border=”0″ /></a>
One driving force behind this blog is the multitude of highway and transit improvement projects being planned and completed over the next 30 years.
The <a href=”http://www.laedc.org/”><span style=”font-weight: bold;”>Los Angeles County Economic Development Corporation</span></a> has released <a href=”http://libraryarchives.metro.net/dpgtl/measurer/2010_metro_construction_impact_measurer_projects_2009_2038.pdf”><span style=”font-weight: bold;”>The Construction Impact Of Metro’s Measure R Transportation Projects 2009-2038</span></a> (19p. PDF), an analysis of the economic impact on the region.
The study finds that total spending, budgeted to exceed $34.7 billion will generate $68.8 billion in economic output (measured by business revenues) in the five-county Southern California region, adding 507,500 jobs with earnings of $22.4 billion over the thirty-year period, or an annual average of 16,900 jobs with $746 million in annual earnings.
Total tax revenues collected will exceed $9.3 billion, or an annual average of $310 million. Approximately 70% of the total ($6.6 billion) will be earned at the federal level. More than $2.3 billion in state taxes will be paid over the thirty year period.