THREE LAKES WILDLIFE MANAGEMENT AREA
OSCEOLA COUNTY, FLORIDA
FINAL ESTIMATE OF ECONOMIC IMPACTS
August 2000
Principle Investigator
David B. Harding, Ph.D.
Florida Fish and Wildlife Conservation Commission In applying the economic model, the following three types of economic impacts are considered.
SALES BENEFITS, TAX BENEFITS, AND EMPLOYMENT BENEFITSSALES BENEFITS - consist of income to local area businesses or individuals for goods and services that these businesses or individuals provide as a result of expenditures by nonresident visitors to Three Lakes WMA, federal government expenditures and expenditures by other non-local parties. TAX REVENUE BENEFITS - consists of increases in local area tax revenues (to state and local government) as a result of nonresident visitor expenditures, federal government expenditures and expenditures by other non-local parties. EMPLOYMENT BENEFITS - consists of the new jobs created in the local area as a result of expenditures from nonresident visitors to Three Lakes WMA, federal government spending and expenditures from other non-local parties.
FINAL ECONOMIC ANALYSIS - NONRESIDENT VISITOR EXPENDITURESRecreational Visitor Days (RVD's) 1,221 for the study period
Total estimate of RVD's (yearly) 4,884
RVD seasonal adjustment of 10% = 4,884 minus 488 =
new estimate of 4,396 = Estimate of Annual RVD Volume Expenditure estimate for the study period = $136,993
Expenditure estimate for the year $ 547,972
Seasonal adjustment 10%
Seasonally adjusted expenditure estimate = $493,175
Average Per Person Per Day Expenditure = $112
Economic Impact Per Visitor Day = $166
Category - Estimated Total Sales Benefits Estimate of Nonresident Visitor
Usage From Frequency Distribution (74%) General Formula Estimate on nonresident use (.74%) x annual rvd volume x average per person per day expenditures x indirect and induced multiplier (2) = estimated total sales benefits. Estimated Total Sales Benefits = $ 728,672
Category - Estimated State Revenue Tax Benefits General Formula Total sales ($ 728,672) x combined state and local sales tax rate (.07). Estimated Sales Tax Benefits = $ 51, 007
State Revenues x .06 = $ 43,720
Local Economy x .01 = $ 7, 287
Category - Estimated Employment Benefits - Number of Jobs Created General Formula Total sales in millions x jobs per million dollars of sales (average of 30 jobs per million dollars of sales). .75 x 30 = 23 Number of Jobs Created = 23
FINAL ECONOMIC ANALYSIS - FEDERAL GOVERNMENT EXPENDITURESCategory - Estimated Total Sales Benefits Direct sales = $313, 995 General Formula Direct sales from federal government expenditures x indirect and induced multiplier. Estimated Total Sales Benefits = $ 627, 990
Category - Estimated Tax Revenue Benefits General Formula Total sales from federal government expenditures x combined state and local tax rate. Estimated Sales Tax Benefits = $ 43, 959
State @ $ 37,679, Local Economy @ $6,280
Category - Estimated Employment Benefits - Number of Jobs Created General Formula Total sales from federal govt. expenditures x jobs per million dollars (30)
.63 X 30 = 19 Number of Jobs Created = 19
FINAL ECONOMIC ANALYSIS - EXPENDITURES BY OTHER NON-LOCAL PARTIES - STATE GOVERNMENTCategory - Estimated Total Sales Benefits Direct sales = $104, 665 General Formula Direct sales x indirect and induced multiplier (x 2) Total Sales Benefits = $ 209, 330
Category - Estimated Tax Benefits Although direct purchases by the wildlife management area for goods and services, for example, are often exempt from most sales taxes, wildlife management areas make a variety of indirect contributions to local governments. Additionally, vendors who supply goods and services pay state sales taxes on materials and supplies already in inventory and local governments may support other activities such as fire suppression, police protection, etc. It is for these reasons that these resultant benefits are calculated within this model. General Formula Total sales benefits x the combined local and state tax rate.
$ 209, 330 x .07 Estimated Sales Tax Benefits = $ 14, 653
State @ $ 12, 560 - Local Economy @ $ 2, 093
Category - Estimated Employment Benefits - Number of Jobs Created General Formula Total sales x jobs per million
.20 x 30 Number of Jobs Created = 6
TOTAL ECONOMIC IMPACT FOR THREE LAKES WILDLIFE MANAGEMENT AREAThe total economic impact attributable to Three Lakes Wildlife Management Area are measured from the combined effects of nonresident visitor expenditures, federal government expenditures, and other non-local parties (additional state spending). Combined Total Sales
$ 728, 672 (nonresident visitor spending)
$ 627, 990 (federal govt. expenditures)
$ 209, 330 (expenditures by other non-local parties) TOTAL = $1, 565, 992 ($1.565 million) Combined Tax Revenue Benefits STATE LOCAL ECONOMY
$ 43,720 (nonresident visitor spending) $ 7, 287 (nonresident visitor spending)
$ 37,679 (federal govt. expenditures) $ 6, 280 (federal govt. expenditures)
$ 12, 560 (expenditures by other $ 2, 093 (exp.by other non-local parties)
non-local parties) TOTAL = $ 93, 959 TOTAL = $ 15, 660 Total Combined Estimated Tax Revenue Benefits = $ 109, 619
Combined Estimated Employment Benefits - Number of Jobs Created 23 (nonresident visitor spending)
19 (federal govt. expenditures)
6 ( expenditures by other non-local parties) TOTAL = 48 SAMPLE SIZE = 433 DATA COLLECTION = ADMINISTRATION OF QUESTIONNAIRE For more information contact Dave McElveen.
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