The Capital Benefits Of Utility Investment In Caroline County, Virginia May 2010 Prepared by the Department of Economic Development & Tourism Data Supplied by the Caroline County Commissioner of Revenue

Real Estate Tax Revenues Collected Within The Utility Service Area From 1990 to 2010 Carmel Church $6,789, Ladysmith $2,259, Total $9,048,962.76

Carmel Church Real Estate Tax Revenues Grew From $90,823 to $991,706 A 992% Increase Carmel Church Real Estate Tax Revenues 1990 to 2010

Ladysmith Real Estate Tax Revenues Grew From $16,998 to $679,060 A 3,895% Increase Ladysmith Real Estate Tax Revenue 1990 to 2010

Carmel Church and Ladysmith Collections in 2010 Real Estate Revenues $1,670,766 In 1990 Collections Were $107,821 Growth in Revenues from 1990 to 2010: 1,450%

Real Estate Tax Value Growth Within The Utility Service Area From 1990 to 2010 Carmel Church $1,095,103,660 Ladysmith $384,839,760 Total $1,479,943,420

Carmel Church Assessed Values Grew From $14,648,910 to $187,114,500 A 1,177% Expansion. Carmel Church Real Estate Assessed Values 1990 to 2010

Ladysmith Assessed Values Grew From $2,741,670 to $128,124,700 A 4,573% Expansion Ladysmith Real Estate Assessed Values 1990 to 2010

Carmel Church and Ladysmith Real Estate Values in 2010 $315,239,200 Carmel Church and Ladysmith Real Estate Values in 1990 $17,390,580 Growth in Revenues from 1990 to 2010: 1,713%

Additional General Fund Revenues Grew in the Utilities Investment Areas of Carmel Church and Ladysmith

Business Personal Property Assessments Grew in the Utilities Investment Areas Personal Property Value Assessments Grew from $93,920 in 1990 to $5,359,960 in 2010 A 5,607% Increase

Business Personal Property Assessments Grew in the Utilities Investment Areas Personal Property Value Assessments Grew from $49,030 in 1990 to $1,951,180 in 2010 A 3,880% Increase

Carmel Church and Ladysmith Business Personal Property Growth In Utility Investment Areas From 1990 to 2010 Personal Property Assessed Value in 1990: $142,950 Personal Property Assessed Value in 2010: $7,311,140 A 5,014% Increase

ASI’s Heavy Mobile Crane at Their 40,000 sq. ft. Industrial Facility in Ladysmith

Business Professional Occupational License (BPOL) Revenues Grew in the Utility Investment Area of Carmel Church In 1990 Carmel Church Produced No BPOL Revenue; In 2010: $526,998 Total for Eighteen Years: $3,957,148

In 1990 Ladysmith Produced No BPOL Revenue; In 2010: $90,795 Total for Eighteen Years: $805,704 Business Professional Occupational License (BPOL) Revenues Grew in the Utility Investment Area of Ladysmith

Carmel Church Meals Tax Growth In Utility Investment Areas From 1990 to 2009 In 1990 Meals Taxes in Carmel Church: $43,979 In 2009 Meals Taxes in Carmel Church: $603,057 A 1,271% Increase

In 1990 Meals Taxes in Ladysmith: $4,801 In 2009 Meals Taxes in Ladysmith: $131,790 A 2,744% Increase Ladysmith Meals Tax Growth In Utility Investment Areas From 1990 to 2009

Caroline County Employment Growth Growth in employment has followed utility and business investment. In ,085 were employed, however, the next three years employment was as low as 8,749 and unemployment in Caroline was as high as 14.1% From 2000 until the depth of the current recession, employment has steadily increased to 13,510 jobs in Caroline; an addition of 4,761 jobs.

Summation Investment Revenue Employment