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THE ECONOMIC IMPACT OF ANNISTON ARMY DEPOT ON CALHOUN AND SURROUNDING COUNTIES 2003

THE ECONOMIC IMPACT OF ANNISTON ARMY DEPOT ON CALHOUN AND SURROUNDING COUNTIES 2003 Prepared by: William T. Fielding, Ph.D. Dean, College of Commerce and Business Administration Jacksonville State University Through: Center for Economic Development and Business Research

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THE ECONOMIC IMPACT OF ANNISTON ARMY DEPOT ON CALHOUN AND SURROUNDING COUNTIES 2003

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  1. THE ECONOMIC IMPACT OF ANNISTON ARMY DEPOT ON CALHOUN AND SURROUNDING COUNTIES 2003 Prepared by: William T. Fielding, Ph.D. Dean, College of Commerce and Business Administration Jacksonville State University Through: Center for Economic Development and Business Research Jacksonville State University

  2. General Observations and Methodology Total Economic Impact Impact on Local Governments Impact on Local Employment Impact on Financial Institutions Economic Impact of Anniston Army Depot (AAD) on Calhoun County and Surrounding Counties 2003: Overview

  3. Economic Impact of AAD on Calhoun County and Surrounding Counties 2003: General Observations and Methodology • Impact areas include Calhoun, Etowah, Talladega, and St. Clair • Population of impact area: 361,000 • Primary data for calculations from three sources: • Expenditure survey of AAD employees • Local government officials • AAD officials

  4. Total Economic Impact of AAD on Calhoun County and Surrounding Counties 2003: $1.1 Billion • Direct local expenditures • By Anniston Army Depot (excl wages and salaries) $391,400,000 • By Employees $124,861,032 • Total Direct Impact $516,261,032 • Impact Multiplier (2.2) 2.2 • Total Impact $1.1Billion • Approximately 11% of total business volume in area

  5. AAD Impact on Local Business Property: $278,618,079 • Value of local business real property due to AAD - $186,973,616 • Value of local business inventory due to AAD -$91,644,463

  6. AAD Impact on Study Area Employment: 18,045 • Direct Employment by AAD 4,969 • Indirect Employment due to AAD 13,076

  7. AAD Tax Expenditures and Receipts:$21.5 Million (Net Gain) • Cost to local Governments for providing municipal & public school services – $11.5 Million • Taxes paid directly and indirectly by AAD related persons living in study area – $33 Million

  8. AAD Impact on Local Financial Sector:$96 Million • Estimated deposits by AAD-related persons, total savings deposits and demand deposits

  9. Economic Impact of Anniston Army Depot on Calhoun County and Surrounding Counties 2003: Summary • Total Economic Impact $1.1 Billion • Impact on Local Business Property $278,618,078 • Impact on Local Employment 18,045 • Impact on Local Governments (Net Gain) $21.4 Million • Impact on Financial Institutions $96 Million

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