1. 2 THE ECONOMIC IMPACT OF ANNISTON ARMY DEPOT ON CALHOUN AND SURROUNDING COUNTIES 2003 Prepared by: William T. Fielding, Ph.D. Dean, College of Commerce.

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2 THE ECONOMIC IMPACT OF ANNISTON ARMY DEPOT ON CALHOUN AND SURROUNDING COUNTIES 2003 Prepared by: William T. Fielding, Ph.D. Dean, College of Commerce and Business Administration Jacksonville State University Through: Center for Economic Development and Business Research Jacksonville State University

3 Economic Impact of Anniston Army Depot (AAD) on Calhoun County and Surrounding Counties 2003: Overview General Observations and Methodology Total Economic Impact Impact on Local Governments Impact on Local Employment Impact on Financial Institutions

4 Economic Impact of AAD on Calhoun County and Surrounding Counties 2003: General Observations and Methodology Impact areas include Calhoun, Etowah, Talladega, and St. Clair Population of impact area: 361,000 Primary data for calculations from three sources: –Expenditure survey of AAD employees –Local government officials –AAD officials

5 Total Economic Impact of AAD on Calhoun County and Surrounding Counties 2003: $1.1 Billion Direct local expenditures –By Anniston Army Depot (excl wages and salaries) $391,400,000 –By Employees $124,861,032 –Total Direct Impact $516,261,032 Impact Multiplier (2.2) 2.2 Total Impact $1.1Billion Approximately 11% of total business volume in area

6 AAD Impact on Local Business Property: $278,618,079 Value of local business real property due to AAD - $186,973,616 Value of local business inventory due to AAD - $91,644,463

7 AAD Impact on Study Area Employment: 18,045 Direct Employment by AAD 4,969 Indirect Employment due to AAD 13,076

8 AAD Tax Expenditures and Receipts: $21.5 Million (Net Gain) Cost to local Governments for providing municipal & public school services – $11.5 Million Taxes paid directly and indirectly by AAD related persons living in study area – $33 Million

9 AAD Impact on Local Financial Sector: $96 Million Estimated deposits by AAD-related persons, total savings deposits and demand deposits

10 Economic Impact of Anniston Army Depot on Calhoun County and Surrounding Counties 2003: Summary Total Economic Impact$1.1 Billion Impact on Local Business Property $278,618,078 Impact on Local Employment18,045 Impact on Local Governments (Net Gain) $21.4 Million Impact on Financial Institutions$96 Million