Economic Impact Study for NeighborWorks® Alliance of Wisconsin from 2015-2017
A recently released economic impact study by NeighborWorks® Alliance of Wisconsin found the six member organizations provided impact to the state totaling more than $572 million over the past three years (2015-2017). Additionally, the organizations helped create or sustain more than 3,870 jobs during the same three-year period.
To calculate the economic impact of NeighborWorks® Alliance of Wisconsin organizations, IMPLAN (Impact Analysis for Planning) software was used to quantify the economic effects of spending events brought about by the organizations’ operations and activities.
The major findings of the report include:
Overall Economic Impact Impact. The overall economic impact from these organizations was $572 million in economic activity over 3 years.
Jobs are created and/or sustained. The boost from the activities spreads throughout several industries. Total over the three years, there were more than 3,870 jobs created and/or sustained for Wisconsin residents. On average, over the three years, this would annually equate to 1,290 jobs.
Returns in the Wisconsin Economy. The stimulation of homeownership has great impact in investments being made back into the local economy. Facilitated by NeighborWorks® organizations (NWO). State and local tax revenue from the Alliance members is over $34 million during the three years, averaging out to $11.45 million a year.
Quality of life improves. Although harder to quantify, the job creation, and tax revenue benefits from the stability of homeownership activities and programming has a broad effect in other areas such as community development, public safety and small business support.
This report contains data derived from several sources outside of the NWOs themselves, including US Census Bureau Economic Censuses and Surveys, US Bureau of Labor Statistics Covered Employment and Wages (ES202) Program and others.