From Ghost Town to Economic Engine Pease 25 Years After Its Closing Applied Economic Research Laconia, New Hampshire June 2015 Applied Economic Research.

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Presentation transcript:

From Ghost Town to Economic Engine Pease 25 Years After Its Closing Applied Economic Research Laconia, New Hampshire June 2015 Applied Economic Research Impact 2015

Applied Economic Research Pease Tradeport Economic Impact

Region Experiences Strong Job Growth During Pease’s Development Era Portsmouth Labor Market Adds 22,338 jobs; Combined Portsmouth and Dover Labor Markets Add 31,740 jobs. Applied Economic Research Pease Tradeport Economic Impact JOBS

Unemployment Rate Is Low Applied Economic Research Pease Tradeport Economic Impact NOTE: Portsmouth Labor Market includes Brentwood, Epping, Exeter, Greenland, Hampton, New Castle, Newfields, Newington, Newmarket, North Hampton, Portsmouth, Rye and Stratham (per NH Employment Security Commission).

Portsmouth and Its Labor Market Register the Strongest Job Growth—Portsmouth Adding Jobs at More Than Twice the State Rate Applied Economic Research Pease Tradeport Economic Impact

Pease is Dominant Job Growth Generator in the City of Portsmouth Applied Economic Research Pease Tradeport Economic Impact JOBS

9,540 Jobs at Tradeport +1,750 Projected; 14,400 Regional Jobs Including Supported Off-Tradeport Jobs Applied Economic Research Pease Tradeport Economic Impact JOBS

250 +/- Occupants: Tradeport Houses Diversity of Users, Large and Small Manufacturing, Technology: Sig Sauer, Lonza Biologics, Redhook Ale Brewery, Bottom Line Technologies, etc.; Government: Air National Guard, US Department of State Passport and Visa Center, etc.; Educational: Great Bay Community College, Southern New Hampshire University, University of New Hampshire, Franklin Pierce University and Granite State College; Services: John Hancock, HCA Health Services, Northeast Rehabilitation Hospital, Sun Life Financial, Marriot Residence Inn, Pierce Atwood, Five Restaurants and Food Court and Pease Golf Course, etc.; Aviation/Aerospace: PlaneSense, Seacoast Helicopters, Seacoast Aviation, Port City Air, etc. Applied Economic Research Pease Tradeport Economic Impact

Nearly $600 Million in Wages Paid at the Tradeport— Nearly Triple the 2002 Figure Applied Economic Research Pease Tradeport Economic Impact

Combined Regional Wage Impact is in Excess of $725 million Applied Economic Research Pease Tradeport Economic Impact

Tradeport Generates Over $16 Million Annually in Business and Meals/Rental Taxes to the State of New Hampshire Applied Economic Research Pease Tradeport Economic Impact

Pease Has Nearly 4.5 Million Square Feet of Space Completed, Under Construction and Approved Applied Economic Research Pease Tradeport Economic Impact SQUARE FEET

Total Taxable and Exempt Real Estate Investment at Pease Now Exceeds One-Half Billion Dollars at Market Value Applied Economic Research Pease Tradeport Economic Impact Source: City of Portsmouth Assessor’s Office Assessed Value Equalized to Market Value Based on 2014 Portsmouth Equalization Rate (88.5%)

Taxable Assessed Value at Pease Is Now In Excess of $445 million Applied Economic Research Pease Tradeport Economic Impact Source: City of Portsmouth Assessor’s Office

Annual PILOT Revenues and Municipal Service Fees Total Over $6 million Applied Economic Research Pease Tradeport Economic Impact NOTE: “Airport District Municipal Service Fees” are paid to Portsmouth to reimburse the cost of services provided by Portsmouth to properties in Newington. These fees exclude the school portion of the tax rate.