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Home My WebLink About(2) Marina-Impact-Calculation_2018-2020.pdf UNIVERSITY cif. WILLIAM UFFLORID VIMS � &MARY VIRGINIA INSTITUTE OF MARINE SCIENCE Marina Economic Impact Calculator This calculator tool estimates the economic impacts of marinas using regional economic multipliers. State: New York - Atlantic Coast Region: North Atlantic Marina Activity 2020 2019 2018 Boat Sales $16,000,000 $14,000,000 $13,000,000 Fuel Sales $171,637 $185,000 $165,000 Merchandise Sales $627,833 $700,000 $610,000 Boat Storage $603,160 $560,000 $525,000 Lease Revenues $ $ $ Boat Rentals $ $ $ Food & Beverage Services $ $ $ Boat Service $1,262,936 $1,200,000 $1,100,000 All Other Activities $ $ $ 2020 Annual Revenue Regional Comparison Activity Your Revenue Revenue Regional Revenue Percentage Percentage Percentage Deference Boat Sales $16,000,000 85.72% 4.8% 80.92% Fuel Sales $171,637 0.92% 18% 17.08% Merchandise Sales $627,833 3.36% 4.7% -1.34% Boat Storage $603,160 3.23% 6.7% -3.47% Lease Revenues $0 0% 13.3% -13.3% Boat Rentals $0 0% 0.1% -0.1% Food & Beverage o 0 0 Services $0 0/0 0.6/o -0.6/o Boat Service $1,262,936 6.77% 6% 0.77% All Other Activities $0 0% 45.8% -45.8% Summary Economic Impacts Employment Industry Impact Type Value Added (GDP) Labor Income (Jobs) Output Direct 49 $5,441,812 $3,874,966 $3,109,867 Indirect 10 $2,207,661 $1,265,784 $777,737 Induced 71 $13,509,124 $8,688,104 $5,427,700 Total Impact 124 $21,292,428 $13,992,023 $8,921,523 ' • Industry output represents sales revenues. Employment represents fulltime and part- time jobs. • Industry output represents sales revenues. • Employment represents fulltime and part-time jobs. • Value added is equivalent to Gross Domestic Product (GDP) and represents labor income, other property income and business taxes. • See the table below for a detailed listing of local/state and federal tax impacts. • Note that these economic measures are independent and should not be added together 2020 Economic Impacts by Major Industry Group Impact Type Employment Industry Value Added Labor (Jobs) Output (GDP) Income Agriculture, Forestry, 0 $50,397 $27,550 $15,621 Fisheries Mining 0 $45,007 $26,523 $14294 Utilities 0 $408,981 $184,339 $57,170 Construction 2 $830,732 $340,743 $322,056 Manufacturing 2 $1,186,823 $381,040 $213,932 Wholesale Trade 2 $665,797 $465,112 $267,317 Retail Trade 36 $4,564,311 $3,343,726 $2,174,580 Transportation 7 $1,163,287 $648,020 $480,502 Information and 1 $962,928 $570,174 $249,253 Communications Finance and Insurance 4 $1,341,258 $808,429 $532,143 Real Estate and Rentals 5 $2,111,344 $1,592,229 $158,951 Professional and 7 $1,321,002 $876,574 $748238 Technical Services Management of 0 $228,149 $144,527 $129,327 Companies Administrative and Waste 5 $481,365 $336,222 $281,209 Services Education 2 $217,514 $140,201 $133,861 Health Care and Social 12 $1,379,666 $856,259 $833,844 Services Arts, Entertainment and 1 $176,444 $99,716 $72,709 Recreation Accommodation and Food 7 $481,864 $273,963 $209,503 Services Other Services 13 $1,944,338 $1,307,179 $719,984 Government and non- 12 $1,731,257 $1,569,482 $1,306,958 NAILS Total 124 $21,292,428 $13,992,023 $8,921,523 2020 State and Local Tax Impacts Description Tax Dividends $2,691 Social Ins Tax- Employee Contribution $3,676 Social Ins Tax- Employer Contribution $7,106 Tax on Production and Imports: Sales Tax $470,139 Tax on Production and Imports: Property Tax $610,126 Tax on Production and Imports: Motor Vehicle Lic $8,680 Tax on Production and Imports: Severance Tax $204 Tax on Production and Imports: Other Taxes $72,958 Tax on Production and Imports: S/L NonTaxes $1,898 Corporate Profits Tax $75,786 Personal Tax: Income Tax $248,778 Personal Tax: NonTaxes (Fines- Fees) $32,338 Personal Tax: Motor Vehicle License $7,065 Personal Tax: Property Taxes $4,644 Personal Tax: Other Tax (Fish/Hunt) $2,418 Total State and Local Tax $1,548495 Federal Tax Impacts Description Tax Social Ins Tax- Employee Contribution $476,184 Social Ins Tax- Employer Contribution $426,869 Tax on Production and Imports: Excise Taxes $86,924 Tax on Production and Imports: Custom Duty $35,996 Tax on Production and Imports: Fed NonTaxes $9,155 Corporate Profits Tax $306453 Personal Tax: Income Tax $734,642 Total Federal Tax $2,076,211 Total Local, State & Federal Tax $3,624,706 2019 Annual Revenue Regional Comparison Activity Your Revenue Revenue Regional Revenue Percentage Percentage Percentage Difference Boat Sales $14,000,000 84.11% 4.8% 79.31% Fuel Sales $185,000 1.11% 18% ' -16.89% Merchandise Sales $700,000 4.21% 4.7% -0.49% Boat Storage $560,000 3.36% 6.7% -3.34% Lease Revenues $0 0% 13.3% -13.3% Boat Rentals $0 0% 0.1% -0.1% Food & Beverage $0 0% 0.6% -0.6% Services Boat Service $1,200,000 7.21% 6% 1.21% All Other Activities $0 0% 45.8% -45.8% Summary Economic Impacts Impact Type Employment Industry output Value Added (GDP) Labor Income (Jobs) Direct 48 $4,955,180 $3,523,598 $2,851,125 Indirect 9 $2,010,626 $1,152,216 $707,041 Induced 66 $12,281,679 $7,898,362 $4,933,728 Total Impact 116 $19,379,140 $12,724,564 $8,118,467 • Industry output represents sales revenues. Employment represents fulltime and part- time jobs. • Industry output represents sales revenues. • Employment represents fulltime and part-time jobs. • Value added is equivalent to Gross Domestic Product (GDP) and represents labor income, other property income and business taxes. • See the table below for a detailed listing of local/state and federal tax impacts. • Note that these economic measures are independent and should not be added together 2019 Economic Impacts by Major Industry Group Impact Type Employment Industry Value Added Labor (Jobs) Output (GDP) Income Agriculture, Forestry, 0 $45,705 $24,979 $14,186 Fisheries Mining 0 $40,937 $24,136 $13,030 Utilities 0 $372,476 $167,905 $52,168 Construction 2 $755,636 $310,077 $293,688 Manufacturing 2 $1,080,776 $347,217 $195,511 Wholesale Trade 2 $606,395 $423,788 $244,095 Retail Trade 33 $4,091,931 $2,988,957 $1,948,225 Transportation 7 $1,070,473 $596,806 $442,709 Information and 1 $874,496 $518,019 $226,845 Communications Finance and Insurance 4 $1,218,981 $735,061 $484,757' Real Estate and Rentals 5 $1,923,501 $1,451,295 $145,399 Professional and 7 $1,201,394 $797,492 $682,125 Technical Services Management of 0 $209,586 $132,827 $119,110 Companies Administrative and Waste 5 $438,156 $306,225 $256,630 Services Education 2 $197,757 $127,512 $121,986 Health Care and Social 11 $1,253,341 $778,144 $759,305 Services Arts, Entertainment and 1 $160,289 $90,616 $66,205 Recreation Accommodation and Food 7 i $437,914 $249,072 $190,855 Services Other Services 13 $1,827,839 $1,229,365 $672,661 Government and non- 11 $1,571,588 ;$1,425,057 $1,188,919 NAILS Total 116 $19,379,140 $12,724,564 $8,118,467 2019 State and Local Tax Impacts Description Tax Dividends $2,462 Social Ins Tax- Employee Contribution $3,340 Social Ins Tax- Employer Contribution $6,455 Tax on Production and Imports: Sales Tax $425,329 Tax on Production and Imports: Property Tax $551,974 Tax on Production and Imports: Motor Vehicle Lic $7,853 Tax on Production and Imports: Severance Tax $185 Tax on Production and Imports: Other Taxes $66,005 Tax on Production and Imports: S/L NonTaxes $1,717 Corporate Profits Tax $69,304 Personal Tax: Income Tax $226,175 Personal Tax: NonTaxes (Fines- Fees) $29,400 Personal Tax: Motor Vehicle License $6,424 Personal Tax: Property Taxes $4,221 Personal Tax: Other Tax (Fish/Hunt) $2,199 Total State and Local Tax $1,403,030 Federal Tax Impacts Description Tax Social Ins Tax- Employee Contribution $432,820 Social Ins Tax- Employer Contribution $387799 Tax on Production and Imports: Excise Taxes $78,640 Tax on Production and Imports: Custom Duty $32,564' Tax on Production and Imports: Fed NonTaxes $8,282 Corporate Profits Tax $280,238 Personal Tax: Income Tax $667,898 Total Federal Tax $1,888,230 Total Local, State & Federal Tax $3,291,260 2018 Annual Revenue Regional Comparison Activity Your Revenue Revenue Regional Revenue Percentage Percentage Percentage Difference Boat Sales $13,000,000 84.42% 4.8% 79.62% Fuel Sales $165,000 1,07% 18% -16.93% Merchandise Sales $610,000 3.96% 4.7% -0.74% Boat Storage $525,000 3.41% 6.7% -3.29% Lease Revenues $0 0% 13.3% -13.3% Boat Rentals $0 0% 0.1% -0.1% Food & Beverage $0 0% 0.6% -0.6% Services Boat Service $1,100,000 7.14% 6% 1.14% All Other Activities $0 0% 45.8% -45.8% Summary Economic Impacts Impact Type Employment Industry output Value Added (GDP) Labor Income (Jobs) Direct 45 $4,574,580 $3,252,097 $2,628,291 Indirect 9 $1,857,810 $1,064,486 $653,193 Induced 62 $11,338,216 $7,291,582 $4,554,710 Total Impact 108 $17,889,856 $11,746,871 $7,493,918 • Industry output represents sales revenues. • Employment represents fulltime and part-time jobs. • Value added is equivalent to Gross Domestic Product (GDP) and represents labor income, other property income and business taxes. • See the table below for a detailed listing of local/state and federal tax impacts. • Note that these economic measures are independent and should not be added together 2018 Economic Impacts by Major Industry Group Impact Type Employment Industry Value Added Labor (Jobs) Output (GDP) Income Agriculture, Forestry, 0 $42,210 $23,068 $13,096 Fisheries Mining 0 $37,798 $22,281 $12,026 Utilities 0 $344,082 $155,081 $48,167 Construction 2 $697,590 $286,220 $270,998 Manufacturing 2 $997,546 $320,421 $180,332 Wholesale Trade 2 $559,609 $391,042 $225,155 Retail Trade 31 $3,777,380 $2,761,156 $1,798,821 Transportation 6 $997,040 $556,122 $412,387 Information and 1 $807,177 $478,099 $209,264 Communications Finance and Insurance 3 $1,125,382 $678,520 $447,323 Real Estate and Rentals 4 $1,775,563 $1,339,486 $134,135 Professional and 6 $1,109,081 $736,123 $629,464 Technical Services Management of 0 $193,042 $122,327 $109,660 Companies Administrative and Waste 4 $404,609 $282,738 $236,867 Services Education 2 $182,560 $117,699 $112,563 Health Care and Social 11 $1,157,332 $718,447 $700,817 Services Arts, Entertainment and 1 $147,993 $83,653 $61,097 Recreation Accommodation and Food 6 $404,324 $229,938 $176,134 Services Other Services 12 $1,678,481 $1,128,815 $618,315 Government and non- 11 $1,451,081 $1,315,625 $1,097,250 NAILS Total 108 $17,889,856 $11,746,871 $7,493,918 2018 State and Local Tax Impacts Description Tax Dividends $2,272 Social Ins Tax- Employee Contribution $3,084 Social Ins Tax- Employer Contribution $5,962 Tax on Production and Imports: Sales Tax $392,667 Tax on Production and Imports: Property Tax $509,589 Tax on Production and Imports: Motor Vehicle Lic $7,250 Tax on Production and Imports: Severance Tax $171 Tax on Production and Imports: Other Taxes $60,936 Tax on Production and Imports: S/L NonTaxes $1,586 Corporate Profits Tax $63,940 Personal Tax: Income Tax $208,819 Personal Tax: NonTaxes (Fines- Fees) $27,144 Personal Tax: Motor Vehicle License $5,931 Personal Tax: Property Taxes $3,897 Personal Tax: Other Tax (Fish/Hunt) $2,031 Total State and Local Tax $1,295,264 Federal Tax Impacts Description Tax Social Ins Tax- Employee Contribution $399,639 Social Ins Tax- Employer Contribution $358,130 Tax on Production and Imports: Excise Taxes $72,602 Tax on Production and Imports: Custom Duty $30,065 Tax on Production and Imports: Fed NonTaxes $7,647 Corporate Profits Tax $258,548 Personal Tax: Income Tax $616,646 Total Federal Tax $1,743,266 Total Local, State & Federal Tax $3,038,530