Report highlights economic development effects
The Round Rock Chamber of Commerce released an economic impact analysis Dec. 2 for 2011–2014. The report aims to analyze how money the chamber and city spent translated into jobs, tax dollars and economic growth for the city.
The report was conducted by Impact DataSource, an Austin-based economic consulting firm, and was completed using data, rates and information gathered by the Round Rock Chamber of Commerce.
According to the report, the chamber supported 34 projects from 2011 through 2014. The report states those projects cumulatively generated a direct economic output of $927,514,749. The report also sates the projects the chamber supported in that time period directly led to the creation of 2,785 jobs.
According to the report, projects supported by the chamber led to $10,994,882 in additional sales and property tax revenue for the city of Round Rock, Williamson County, Round Rock ISD and other local taxing districts.
Round Rock Chamber of Commerce President Mike Odom said when a job is created in Round Rock it affects more than the person who gets the job.
“A number of people from the city to the county have invested in us. We want to show them they’re getting a good value,” Odom said. “I think every citizen and stake holder in Round Rock would be interested in seeing these results because it shows the value added to the community.”
The report states that Impact DataSource is not suggesting the chamber caused all the investments and growth mentioned in the report, but that “such a one-stop center for economic development services is critical to a community’s economic growth and many of these investments may not have occurred without the efforts of the chamber.”
Quick numbers from the economic impact analysis:
Projects completed by Round Rock Chamber of Commerce: 34
Direct economic output from projects: $927,514,749
Jobs created direct from projects: 2,785
Additional revenue for local taxing districts: $10,994,882