We think you have liked this presentation. If you wish to download it, please recommend it to your friends in any social system. Share buttons are a little bit lower. Thank you!
Presentation is loading. Please wait.
Published byCory Nicholson
Modified about 1 year ago
Copyright © 2013 Chmura Economics & Analytics Economic Impact of Refugees in the Cleveland Area Refugee Services Collaborative 28-Oct-2013
Copyright © 2013 Chmura Economics & Analytics Key Findings $4.8 in million in per year spending by the Refugee Service Agencies yields substantial and positive results: – ≈ 66% is federal money A total economic impact of $48 million per year Refugee Spending Refugee Service Agencies Refugee Small Businesses Supports 650 jobs & 2.7 million in tax revenue 1 : 10 impact ratio
Copyright © 2013 Chmura Economics & Analytics Other Economic Impacts Refugee arrivals averted a 3.1% greater population decline in Cuyahoga County Estimated 248 houses purchased from refugees arriving after year 2000 Refugees more likely to be entrepreneurs & create small businesses 17,000+ refugees since 1983 have settled in Greater Cleveland
Copyright © 2013 Chmura Economics & Analytics Economic Impact Induced Impact (Worker Spending) Indirect Impact (Local Supply Chains) Direct Impact Refugee Organizations Refugee Household Spending Refugee-Owned Business
Copyright © 2013 Chmura Economics & Analytics Annual Economic Impact in 2012 was $48 million and 650 jobs Economic Impact Summary of Refugee and Refugee Services in the Cleveland Area DirectIndirectInducedTotal Refugee Service OrganizationSpending (Millions) $4.4$0.4$1.7$6.6 Employment Refugee Household SpendingSpending (Millions) $22.2$5.2$5.9$33.3 Employment Refugee-Owned BusinessesSpending (Millions) $7.6$2.0$2.4$12.0 Employment TotalSpending (Millions) $33.4$7.6$7.0$48.0 Employment Note: The total impact is smaller than the sum of the three components as overlapping impacts were removed in aggregation. Source: Chmura Economics & Analytics
Copyright © 2013 Chmura Economics & Analytics State of Ohio Fiscal Impact, 2012 Annual State Tax Revenue Refugee Service Organizations Refugee Household Spending Refugee BusinessesTotal Individual Income Tax$79,805$837,574$89,730$1,007,110 Commercial Activity Tax$0$57,734$19,865$77,599 Sales Tax$0$529,089$196,847$725,936 Total$79,805$1,424,397$306,442$1,810,644 Source: Chmura Economics & Analytics
Copyright © 2013 Chmura Economics & Analytics Local Fiscal Impact, 2012 Estimated Local Taxes by County and Municipality Sales TaxIncome TaxAdmission TaxTotal Cuyahoga County$296,974 City of Cleveland$292,968$18,980$311,948 City of Lakewood$142,533$7,695$150,228 City of Cleveland Heights$44,979$1,093$46,071 Rest of Municipalities$91,578$1,641$93,219 Total$296,974$572,058$29,408$898,440 Source: Chmura Economics & Analytics Annual County and City Tax Revenue Refugee Service Organizations Refugee Household Spending Refugee BusinessesTotal Municipal Income Tax$45,331$475,758$50,969$572,058 County Sales Tax$0$216,446$80,528$296,974 Municipal Admission Tax$0$29,408$0$29,408 Total$45,331$721,612$131,497$898,440
Copyright © 2013 Chmura Economics & Analytics 4,518 Refugees Arrived Since 2000
Copyright © 2013 Chmura Economics & Analytics Cleveland’s Welcoming Legacy Cleveland averaged: ≈ 570 refugees a year ≈ 330 refugees a year
Copyright © 2013 Chmura Economics & Analytics Thriving In Cleveland Employment & wage profile of refugees in Cleveland is better than national norms – 73.5% employed (2012) vs. 58% national norm (2006) & 68.2% in select cities (2008) – 8.1% receiving public assistance after 2-years (2012) vs. 12.4% in select cities (2008) – Household income $31,000 (2012) vs. $25,000 in select cities (2008) After 5 years, 58% of refugees over the age 16 were employed vs. 63% for U.S. population – 69% of refugee households are completely self-sufficient – No macroeconomic findings that refugees raise unemployment rates among the native population – Second generation educational attainment is higher than overall population
Copyright © 2013 Chmura Economics & Analytics THANK YOU! Questions?
Copyright © 2013 Chmura Economics & Analytics Top 15 countries account for 91% of all refugees to the area
Elliott D. Pollack & Company Goodwill Industries Operating in California Economic and Fiscal Impact 2012 Presented By: Elliott D. Pollack & company March.
Social and Economic Impacts of Gunnison County Arts & Cultural Organizations Presentation for the Gunnison County Board of Commissioners By Maryo Ewell.
Are Ontario Casinos Effective Economic Development Tools? A Brief Summary.
Overview of Hartsfield-Jackson's Economic Impact on Metro Atlanta Myrna White Director, Office of Public Affairs Department of Aviation.
Measuring Economic Impacts: Science, Art or Voodoo? Presentation to URBPL 5/6020 Jan Crispin-Little, Senior Economist Bureau of Economic and Business Research.
Macroeconomics. 1. Circular flow – the movement of output and income from one sector of the economy to another.
Memorial Hospital’s Economic Impact on the Community Date.
MIRPAL CONFERENCE ON REMITTANCES Remittances and economic development: the case of Kosovo 1 Borko Handjiski Economist Cholpon-Ata, Kyrgyzstan 11 th of.
Copyright © 2004 South-Western. All rights reserved.4–1 Learning Goals Identify macroeconomic factors that affect business performance. Explain how market.
FIVE YEAR FINANCIAL FORECAST OCTOBER 2012 Cleveland Municipal School District The primary goal of the Cleveland Municipal School District is to become.
Greater Buffalo (Erie and Niagara Counties). 156 Study Regions—Including Buffalo Population Group No. Study Regions Less than 50, ,000 to 99,999.
BULL OR BEAR: The Business Climate in North Carolina.
PowerPoint Presentation by Charlie Cook Copyright © 2004 South-Western. All rights reserved. Chapter 21 The Macroeconomic Environment.
Fiscal Policy: Fixing an Economy’s Health Points to Remember Prior to the Great Depression (1930’s) economists believed that the best way to stabilize.
Chapter 6 Macroeconomics the Big Picture 12-1 Copyright 2008 by The McGraw-Hill Companies, Inc. All rights reserved.
Lesson 12-1 Fiscal Policy. Government and the Economy Government Purchases Government purchases include all purchases by government agencies of goods.
The Economic Impact of Guilford County Schools and the 2008 Bond Referendum Dr. Andrew Brod Center for Business and Economic Research Bryan School of Business.
The Economic Effect of Child Care in North Dakota Data and analysis prepared by North Dakota KIDS COUNT, 2004.
Economic Evaluation Tools Benefit-Cost Analysis Cost Effectiveness Analysis Financial Analysis/Feasibility Fiscal Impact Analysis Economic Impact Analysis.
Introduction to the UK Economy. What are the key objectives of macroeconomic policy? Price Stability (CPI Inflation of 2%) Growth of Real GDP (National.
Immigration as a Supply Side Policy.. Nature and Purpose of Immigration Policy Immigration occurs when people enter and settle in a country where they.
Fiscal Policy: Fixing an Economy’s Health What is Fiscal Policy? The use of Government policies in order to stabilize the Business Cycle.
Overall objective -- to estimate the economic impact of the Medicaid program on Alaska’s economy. More specifically, the report will: 1.provide a brief.
ECON 1211 Lecturer: Dr B. Nowbutsing Topic 1: Introduction to Macroeconomics and National Income Accounting.
1 CEDBR Fiscal Benefit – Cost Model Pattie Bradley, Senior Research Economist Center for Economic Development and Business Research July 2013.
THE ECONOMIC AND FISCAL IMPACT OF THE PROPOSED TOURO UNIVERSITY VILLAGE DEVELOPMENT A Presentation to the Vallejo Chamber of Commerce June 13, 2007 Gruen.
Economic Profile City of South Pasadena Enrich the quality of life and economic vitality of the San Gabriel Valley.
Calculating the Economic Impact of Your Housing Project Rachel Bates Governor’s Housing Conference November 19th, 2015.
Fiscal Policy Fiscal Policy - Government effort to control the economy and maintain stable prices, full employment, and economic growth. Fiscal Policy.
Net economic change in the incomes of host residents that results from spending attributed to an event, attraction, or facility Aimed to assure.
Copyright © Notice: The materials are copyrighted © and trademarked ™ as the property of The Curriculum Center for Family and Consumer Sciences, Texas.
1 Introduction to Macroeconomics Chapter 20 © 2006 Thomson/South-Western.
Part II: Business Environment Introduction to Business 3e 4 Copyright © 2004 South-Western. All rights reserved. Assessing Economic Conditions.
Latino Pathways Project Planning and Design Committee Presentation Guilford County: Latino Demographics June 22, 2004.
Fiscal policy topics 1 Sources of Federal revenue and expenditures Expansionary and contractionary fiscal policy Spending multiplier Tax multiplier.
Pearl Imada Iboshi Department of Business, Economic Development & Tourism Current Hawaii Economic Conditions August 21, 2009.
Community Socioeconomic Profile Wayne County, West Virginia March 27, 2007.
School Finance 101 Presented by Thomas E. White Michigan School Business Officials October 2004.
FIVE YEAR FINANCIAL FORECAST MAY 2012 Cleveland Municipal School District The primary goal of the Cleveland Municipal School District is to become a premier.
© Brian Titley 2012: this may be reproduced for class use solely for the purchaser’s institute IGCSE ® /O Level Economics 5.1 Government economic policy.
1 State of Regional Economy Benton-Franklin Region City of Prosser Prosser Economic Development Association Ajša Suljić-Regional Labor Economist Employment.
Copyright 2005 McGraw-Hill Australia Pty Ltd PPT Slides t/a Economics for Business 3e by Fraser, Gionea and Fraser 22-1 Chapter 22 Fiscal policy Budget.
July 2012 The Economic Impact of Tourism in Clark County, Ohio.
The Impact of the Aerospace Industry in Washington State February 12, 2014.
Information provided by Jacksonville State University Center for Economic Development and College of Commerce and Business Administration 2006 Economic.
TYBEE ISLAND TOURISM STUDY, OUTLINE 1.Introduction 2.Survey of Tybee Island Visitors 3.Visitor Expenditure Patterns 4.Estimated Annual Visitation.
WHO ARE WE? We Represent Pennsylvanians Throughout The Hospitality Industry.
Tourism and the Economy The Multiplier Effect. How are Tourism and the Economy Related?
1 CEDBR Fiscal Benefit – Cost Model Pattie Bradley, Senior Research Economist Center for Economic Development and Business Research September 2016.
Regional economic distinctions are essential in better understanding New York’s economic challenges.
© 2017 SlidePlayer.com Inc. All rights reserved.