BROWNSVILLE, Tenn.—The state commissioned the Sparks Bureau of Business and Economic Development at the University of Memphis to prepare a report on the expected economic impact of the Memphis Regional Megasite. The school completed its work in 2017. It used actual results gathered from similar developments and included the impact of ancillary jobs, investment and economic impact created by the project.
Highlights include—
Jobs: 18,871
Labor Income: $1.1 billion
Local Taxes: $60.1 million
State taxes: 120.4 million
Federal Taxes: $399.3 million
Total production output: $9.7 billion
(All data is reported as annual results)
The report states that more than 23,000 construction jobs will be created and it is expected $3 billion will be invested.
“The recruitment activity would generate new employment and income opportunities for residents of each county on the region…. All counties in this area would share in the benefits…” the report states.
