2009 Pasco County Manufacturing Firms Survey
Economic Impact Analysis
Introduction
This economic impact analysis estimates the economic activity generated in Pasco county by companies
that responded to Pasco County Economic Development’s Manufacturers’ survey. The survey covers a
wide range of industrial activities in Pasco, including the manufacture of furniture, food products,
electronic equipment and plastics. TBRPC modeled the economic impacts of the 61 surveyed firms,
employing 1,783 people, on Pasco County’s economy.
Impacts
Methodology
The 1,783 employees of the surveyed firms
generate (directly, indirectly, and induced) an
estimated $110 million in annual household
earnings and contributed $286 Million to Pasco’s
Gross County Product (GCP). Those jobs then
create 1,609 indirect and induced jobs. Indirect
jobs are created through industry demand, which
together induce additional jobs through household
spending, for a total job impact of 3,392 jobs.
In this analysis, the “what if” question is what if
manufacturing did not exist in Pasco county. By
subtracting manufacturing firm employment out of
a baseline forecast for 2009, both the direct and
indirect impacts of manufacturing on the local
economy can be measured.
This analysis reports total impacts that include
direct, indirect and induced effects of the firms in
the survey. Direct effects are the impacts of the
expenditures/sales of the final demand for the
event being measured (e.g., a new job baking
bagels in a plant). The indirect effects are the
result of the new industry purchasing from other
industries (e.g., buying cinnamon and raisins for
the bagels). Induced effects are the impacts
generated by the expenditures of the new
household income generated by the wages paid by
the direct and indirect beneficiary industries.
Those 3,392 jobs contribute $286 Million dollars
to the GCP of the total Gross County Product.
Economic impacts, however, are not limited to
industrial output. Because a significant share of
annual household earnings are spent locally, the
wages earned at these jobs circulate money
through different sectors of the local economy.
For example, the additional earnings by
households translates into approximately $12.5
million in additional retail sales annually. Table 1
and Figure 1 illustrate the distribution of that
$12.5 million in additional retail sales by category.
The employment estimates of the manufacturing
sector was analyzed using both the REMI Policy
Insight® (a highly sophisticated econometric
model) and IMPLAN Pro® (a basic input/output
model) economic models. These models are the
best available tools to estimate economic impacts.
The analysis involves the use of historical data,
input-output tables and general equilibrium
models to access economic impacts.
Annual Impact Summary
Number of Surveyed Firms: 61
Direct Employment: 1,783
Indirect & Induced Employment: 1,609
Personal Income: $110 Million
Contribution to GCP: $286 Million
Pasco County GCP (2009): $7.1 Billion
Note: This analysis is not comparable to previous year’s
analyses due to differences in respondents and data
updates to the model. All Figures are in 2009 US Dollars.
Previous Impact Studies used 2000 US Dollars.
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Table 1: Annual Retail Sales by Category
Motor vehicle and parts dealers
Furniture and home furnishings stores
Electronics and appliance stores
Building material and garden supply stores
Food and beverage stores
Health and personal care stores
Gasoline stations
Clothing and clothing accessories stores
Sporting goods- hobby- book and music stores
General merchandise stores
Miscellaneous store retailers
Nonstore retailers
Total
$
$
$
$
$
$
$
$
$
$
$
$
$
2,134,276
333,225
467,333
1,219,938
2,133,232
1,045,502
591,205
630,885
200,534
2,772,175
389,595
587,646
12,505,546
Figure 1: Annual Retail Sales by Category
Motor vehicle and parts
Furniture and furnishings
Electronics and appliances
Building materials
Food and beverage
Health and personal care
Gasoline stations
Clothing and accessories
Sporting goods, hobby, etc
General merchandise
Miscellaneous
Direct and electronic sales
Prepared in June 2010 by:
Tampa Bay Regional Planning Council
Economic Analysis Program
4000 Gateway Centre Boulevard, Suite 100
Pinellas Park, FL 33782
www.tbrpc.org/eap
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