Impact

The attainment of our job creation goal and the subsequent effect of the earnings from those jobs will have a dramatic impact on the businesses and communities of Maury County. The Convergent Outcomes Lab in Atlanta has projected the following potential economic benefits utilizing the 2016 Type II RIMS (Regional Input-Output Modeling System) multipliers supplied by the Bureau of Economic Analysis, U.S. Department of Commerce, for the Maury County, TN Metropolitan Statistical Area (MSA) of Nashville-Davidson-Murfreesboro-Franklin, TN.

Highlights

Every new direct salary dollar earned as a result of the Maury Alliance initiative is estimated to generate another 1.1798 in additional earnings in the area. The program’s targeted creation of 2,000 new jobs with an average wage of $17.89 per hour is estimated to create direct earnings of $74,422,400. These new primary jobs are expected to create 3,176 new secondary jobs with an average indirect wage of $13.29 and earnings of $87,800,273 Once all jobs are realized, the new area earnings are estimated at $162,222,673 annually.

Every job created through the Maury Alliance initiative is estimated to create another 1.5878 additional jobs in the area. At the end of five years, the program’s targeted creation of 2,000 new jobs is estimated to create an additional 3,176 secondary jobs for an estimated 5,176 total new jobs.

Impact on the Region

Here we show the potential regional impact for annual total earnings, annual consumer expenditures, and annual bank deposits from the Advance Maury five-year strategic development plan.

Service and Retail Sectors

The projected increase in employment by 2,000 primary jobs has the potential to correspondingly increase new personal consumption expenditures in Maury County by over $89,670,693 annually which is a benefit to all service providers and retailers. The following two charts provide the annual service and retail industry economic impacts respectively.

Consumer Spending

This pie chart depicts (in millions) how people would typically spend the earnings from the newly created jobs from this initiative.