The Economic Impact of the May 3, 1999 Tornado on the
Economy of Stroud and Lincoln County, Oklahoma
Fred Eilrich, Extension Associate
Chuck Willoughby, Business Planning & Marketing Associate
Jack Frye, Area Rural Development Specialist
Mindy Moore, Student Assistant
Gerald A. Doeksen, Regents Professor & Extension Economist
Mike D. Woods, Professor & Extension Economist
Mick R. Jones, Lincoln County Extension Director
The Economic Impact of the May 3, 1999 Tornado on the
Economy of Stroud and Lincoln County, Oklahoma
Basic Economic Data
Tornado Damage Assessment
Impacts on Jobs, Income, and Retail Sales
Recommendations
Basic Economic Data
Employment Data
Lincoln County Employment, 1990-98
12,500
12,000
11,500
11,000
10,500
10,000
1990
1991
1992
1993
1994
1995
1996
1997
1998
Basic Economic Data
Employment Data
Employment by Industry
Lincoln County, 1998
T CPU
5.1%
Mining
3.4%
T rade
20.0%
Construction
6.9%
FIRE
7.2%
Manufacturing
9.3%
Services
19.9%
Government
12.3%
Agriculture
15.9%
Basic Economic Data
Retail Sales Data
Retail Sales for Stroud, 1990-98
$70.0
$60.0
Millions
$50.0
$40.0
$30.0
$20.0
$10.0
1990
1991
1992
1993
1994
1995
1996
1997
1998
Tornado Damage Assessment
Tornado Damage Assessment
Tornado Damage Assessment
Tornado Damage Assessment
Tornado Damage Assessment
Estimated Sales Tax Loss by Category to Stroud
Category
Communications
Electric, Gas, & Sanitation
General Merchandise
Food Stores
Apparel & Accessories
Sales Loss
$3,176
$27,819
$143,426
$24,573
$626,494
Furniture & Home Furnishings
$33,356
Eating & Drinking
$45,500
Miscellaneous Retail
$96,610
Hotel & Motel
Unclassified
TOTAL
$9,729
$28,445
$1,039,128
Tornado Damage Assessment
Estimated Revenue Loss by Source to Stroud
Category
Electric
Revenue Loss
$500,327
Water
$2,332
Sewer
$1,190
Sanitation
$95,417
Other Fees
$7,663
TOTAL
$606,929
Tornado Damage Assessment
Estimated Structural, Nonstructural, Contents, Sales, and Inventory
Loss to Industries in Stroud
Industry
Structural
Nonstructural
Contents
Sales
Inventory
$75,000
$2,500
$5,000
$25,000
0
$5,095,000
$530,000
$179,000
$4,789,000
$87,000
$15,139,000
$18,000
$1,683,100
$26,800,000
$9,099,389
Utilities
$70,400
0
0
0
0
TOTAL
$20,309,000
$550,500
$1,867,100
$31,614,000
$9,186,389
Manufacturing
Services
Trade
Impacts on Jobs, Income, and Retail Sales
Assuming Permanent Loss of Tanger Outlet Mall
Area of Loss
Direct
Indirect
& Induced
Employment
325
325
650
Income
$4,875,000
$5,801,250
$10,676,250
Retail Sales (Employees)
$1,338,188
$1,592,443
$2,930,631
$25,274,313
0
$25,274,313
$26,612,500
$1,592,443
$28,204,943
$53,528
$63,698
$117,225
$1,010,973
0
$1,010,973
$1,064,500
$63,698
$1,128,198
Retail Sales (Mall Visitors)
Total Retail Sales
Sales Tax Collections (Employees)
Sales Tax Collections (Mall Visitors)
Total Sales Tax Collections
Total
Impacts on Jobs, Income, and Retail Sales
Accounting for All Temporary and Permanent Jobs Lost
Area of Loss
Direct
Indirect
& Induced
Employment
587
589
1,176
$10,856,317
$12,755,360
$23,611,677
$2,980,059
$3,501,346
$6,481,405
$25,274,313
0
$25,274,313
$28,254,372
$3,501,346
$31,755,718
$119,202
$140,054
$259,256
$1,010,973
0
$1,010,973
$1,130,175
$140,054
$1,270,229
Income
Retail Sales (Employees)
Retail Sales (Mall Visitors)
Total Retail Sales
Sales Tax Collections (Employees)
Sales Tax Collections (Mall Visitors)
Total Sales Tax Collections
Total
Impacts on Jobs, Income, and Retail Sales
Assuming Permanent Loss of Integris Hospital
Area of Loss
Direct
Indirect
& Induced
Employment
56
57
113
$1,310,400
$1,428,336
$2,738,736
$359,705
$392,078
$751,783
$14,388
$15,683
$30,071
Income
Retail Sales
Sales Tax Collections
Total