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Home My WebLink About(3) Marina-Impact-Calculation_2022-2024.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 2022 2023 2024 Boat Sales $16,500,000 $17,000,000 $17,500,000 Fuel Sales $200,000 $210,000 $220,000 Merchandise Sales $700,000 $730,000 $760,000 Boat Storage $640,000 $700,000 $1,100,000 Lease Revenues $ $ $ Boat Rentals $ $ $ Food & Beverage Services $ $ $ Boat Service $1,300,000 $1,400,000 $1,800,000 All Other Activities $ $ $ 2022 Annual Revenue Regional Comparison Activity Your Revenue Revenue Regional Revenue Percentage Percentage Percentage Deference Boat Sales $16,500,000 85.32% 4.8% 80.52% Fuel Sales $200,000 1.03% 18% 16.97% Merchandise Sales $700,000 3.62% 4.7% -1.08% Boat Storage $640,000 3.31% 6.7% -3.39% 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 $1,300,000 6.72% 6% 0.72% All Other Activities $0 0% 45.8% -45.8% Summary Economic Impacts Employment Industry Impact Type Value Added (GDP) Labor Income (Jobs) Output Direct 51 $5,651,800 $4,019,198 $3,224,753 Indirect 10 $2,302,287 $1,319,424 $810,328 Induced 70 $14,028,283 $9,021,771 $5,635,966 Total Impact 126 $22,118,961 $14,529,717 $9,264,995 • 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 2022 Economic Impacts by Major Industry Group Impact Type Employment Industry Value Added Labor (Jobs) Output (GDP) Income Agriculture, Forestry, 0 $52,328 $28,599 $16,211 Fisheries Mining 0 $46,757 $27,549 $14,845' Utilities 0 $425,527 $191,747 $59,446 Construction 2 $862,762 $353,844 $334,328' Manufacturing 2 $1,232,326 $395,593 $222,000 Wholesale Trade 2 $691,510 $483,020 $277,511 Retail Trade 36 $4,738,239 $3,468,193 $2,256,623 Transportation 7 $1,223,722 $682,156 $505,602 Information and 1 $1,000,148 $592,156 $258,792 Communications Finance and Insurance 4 $1,393,280 $839,722 $552,542 Real Estate and Rentals 5 $2,195,641 $1,655,708 $165,325 Professional and 7 $1,372,476 $910,648 $777,067 Technical Services Management of 0 $237,221 $150,254 $134,382 Companies Administrative and Waste 5 $500,466 $349,529 $292,247 Services Education 2 $226,001 $145,655 $139,022 Health Care and Social 12 $1,433,121 $889,340 $865,786 Services Arts, Entertainment and 1 $183,287 $103,570 $75,498 Recreation Accommodation and Food 7 $500,535 $284,550 $217,527 Services Other Services 13 $2,006,074 $1,348,558 $743,856 Government and non- 12 $1,797,580 $1,629,315 $1,356,324 NAILS Total 126 $22,118,961 $14,529,717 $9,264,995 2022 State and Local Tax Impacts Description Tax Dividends $2,795 Social Ins Tax- Employee Contribution $3,820 Social Ins Tax- Employer Contribution $7,383 Tax on Production and Imports: Sales Tax $487599' Tax on Production and Imports: Property Tax $632,785 Tax on Production and Imports: Motor Vehicle Lic $9,004 Tax on Production and Imports: Severance Tax $213 Tax on Production and Imports: Other Taxes $75,668 Tax on Production and Imports: S/L NonTaxes $1,969 Corporate Profits Tax $78,681 Personal Tax: Income Tax $258,472 Personal Tax: NonTaxes (Fines- Fees) $33,598 Personal Tax: Motor Vehicle License $7,341 Personal Tax: Property Taxes $4,824 Personal Tax: Other Tax (Fish/Hunt) $2,514 Total State and Local Tax $1,606,645 Federal Tax Impacts Description Tax Social Ins Tax- Employee Contribution $494,743 Social Ins Tax- Employer Contribution $443,513 Tax on Production and Imports: Excise Taxes $90,154 Tax on Production and Imports: Custom Duty $37,332 Tax on Production and Imports: Fed NonTaxes $9,496 Corporate Profits Tax $318,155 Personal Tax: Income Tax $763,269 Total Federal Tax $2,156,646 Total Local, State & Federal Tax $3,763,291 2023 Annual Revenue Regional Comparison Activity Your Revenue Revenue Regional Revenue Percentage Percentage Percentage Difference Boat Sales $17,000,000 84.83% 4.8% 80.03% Fuel Sales $210,000 1,05% 18% -16.95% Merchandise Sales $730,000 3.64% 4.7% -1.06% Boat Storage $700,000 3.49% 6.7% -3.21% 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 $1,400,000 6.99% 6% 0.99% All Other Activities $0 0% 45.8% -45.8% Summary Economic Impacts Impact Type Employment Industry output Value Added (GDP) Labor Income (Jobs) Direct 52 $5,928,360 $4,211,109 $3,394,433 Indirect 10 $2,414,780 $1,383,126 $848,637 Induced 73 $14,694,666 $9,449,983 $5,902,962 Total Impact 130 $23,185,891 $15,223,450 $9,710,071 • 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 2023 Economic Impacts by Major Industry Group Impact Type Employment Industry Value Added Labor (Jobs) Output (GDP) Income Agriculture, Forestry, 0 $54,747 $29,916 $16,971 Fisheries Mining 0 $49,006 $28,879 $15,576 Utilities 0 $446,645 $201,231 $62,450 Construction 2 $904,101 $370,850 $350,827 Manufacturing 2 $1,292,213 $414,910 $233,232 Wholesale Trade 2 $724,823 $506,353 $291,294 Retail Trade 38 $4,901,266 $3,586,014 $2,334,473 Transportation 8 $1,314,008 $733,535 $543,567 Information and 1 $1,046,069 $619,466 $270,879 Communications Finance and Insurance 4 $1,458,869 $879,337 $579,242 Real Estate and Rentals 5 $2,301,806 $1,736,013 $173,679 Professional and 7 $1,437,629 $953,945 $815,138 Technical Services Management of 0 $249,255 $157,903 $141,426 Companies Administrative and Waste 5 $524,802 $366,610 $306,884 Services Education 2 $236,649 $152,532 $145,759 Health Care and Social 12 $1,500,745 $931,388 $907,794 Services Arts, Entertainment and 1 $191,875 $108,430 $79,129 Recreation Accommodation and Food 7 $524,196 $298,031 $228,104 Services Other Services 14 $2,145,990 $1,442,934 $792,601 Government and non- 12 $1,881,229 $1,705,156 $1,420,976 NAILS Total 129 $23,185,891 $15,223,450 $9,710,071 2023 State and Local Tax Impacts Description Tax Dividends $2,939 Social Ins Tax- Employee Contribution $4,001 Social Ins Tax- Employer Contribution $7,733 Tax on Production and Imports: Sales Tax $508,903 Tax on Production and Imports: Property Tax $660,432 Tax on Production and Imports: Motor Vehicle Lic $9,396 Tax on Production and Imports: Severance Tax $221 Tax on Production and Imports: Other Taxes $78,974 Tax on Production and Imports: S/L NonTaxes $2,054 Corporate Profits Tax $82739 Personal Tax: Income Tax $270,731 Personal Tax: NonTaxes (Fines- Fees) $35,191 Personal Tax: Motor Vehicle License $7,689 Personal Tax: Property Taxes $5,053 Personal Tax: Other Tax (Fish/Hunt) $2,633 Total State and Local Tax $1,678,674 Federal Tax Impacts Description Tax Social Ins Tax- Employee Contribution $518,196 Social Ins Tax- Employer Contribution $464,515 Tax on Production and Imports: Excise Taxes $94,091 Tax on Production and Imports: Custom Duty $38,964 Tax on Production and Imports: Fed NonTaxes $9,911 Corporate Profits Tax $334,565 Personal Tax: Income Tax $799,470 Total Federal Tax $2,259,697 Total Local, State & Federal Tax $3,938,371 2024 Annual Revenue Regional Comparison Activity Your Revenue Revenue Regional Revenue Percentage Percentage Percentage Difference Boat Sales $17,500,000 81.85% 4.8% 77.05% Fuel Sales $220,000 1.03% 18% ' -16.97% Merchandise Sales $760,000 3.55% 4.7% -1.15% Boat Storage $1,100,000 5.14% 6.7% -1.56% 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 $1,800,000 8.42% 6% 2.42% All Other Activities $0 0% 45.8% -45.8% Summary Economic Impacts Employment(Jobs)Type (Jobs) Industry output Value Added (GDP) Labor Income Direct 60 $6,844,920 $4,807,928 $3,968,941 Indirect 11 $2,823,138 $1,608,822 $980,102 Induced 82 $16,815,081 $10,810,228 $6,748,452 Total Impact 146 $26,669,089 $17,444,454 $11,143,885 • 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 2024 Economic Impacts by Major Industry Group Impact Type Employment Industry Value Added Labor (Jobs) Output (GDP) Income Agriculture, Forestry, 0 $62,240 $33,943 $19,335 Fisheries Mining 0 $56,374 $33,227 $17,991 Utilities 0 $521,286 $234,342 $73,040 Construction 3 $1,037,439 $425,595' $404,890 Manufacturing 2 $1,486,898 $477,614 $270,482 Wholesale Trade 2 $831,980 $581,231 $336,366 Retail Trade 38 $5,155,336 $3,763,418 $2,456,428 Transportation 11 $1,831,544 $1,032,572 $762,965 ' Information and 1 $1,185,373 $702,448 $307,515 Communications Finance and Insurance 5 $1,666,704 $1,004,491 $664,857 Real Estate and Rentals 5 $2,655,604 $2,003,315 $202,591 Professional and 7 $1,646,712 $1,092,419 $939,909 Technical Services Management of 0 $289,115 $183,199 $165,154 Companies Administrative and Waste 6 $606,980 $424,301' $357,007 Services Education 2 $270,504 $174,331 $167,499 Health Care and Social 14 $1,716,806 $1,065,298 $1,043,965 Services Arts, Entertainment and 2 $218,976 $123,707 $90,734 Recreation Accommodation and Food 7 $599,719 $340,938 $262,376 Services Other Services 16 $2,688,782 $1,809,240 $977,440 Government and non- 14 $2,140,754 $1,938,812 $1,623,275 ! NAILS Total 146 $26,669,089 $17,444,454 $11,143,885 2024 State and Local Tax Impacts Description Tax Dividends $3,438 Social Ins Tax- Employee Contribution $4„584 Social Ins Tax- Employer Contribution $8,861 Tax on Production and Imports: Sales Tax $567,174 Tax on Production and Imports: Property Tax $736,055 Tax on Production and Imports: Motor Vehicle Lic $10473 Tax on Production and Imports: Severance Tax $246 Tax on Production and Imports: Other Taxes $88,016 Tax on Production and Imports: S/L NonTaxes $2,291 Corporate Profits Tax $96,708 Personal Tax: Income Tax $310,100 Personal Tax: NonTaxes (Fines- Fees) $40,307 Personal Tax: Motor Vehicle License $8,807 Personal Tax: Property Taxes $5,789 Personal Tax: Other Tax (Fish/Hunt) $3,014 Total State and Local Tax $1,885,845 Federal Tax Impacts Description Tax Social Ins Tax- Employee Contribution $593,678 Social Ins Tax- Employer Contribution $532417 Tax on Production and Imports: Excise Taxes $104,865 Tax on Production and Imports: Custom Duty $43,424 Tax on Production and Imports: Fed NonTaxes $11,046 Corporate Profits Tax $391,051 Personal Tax: Income Tax $915,729 Total Federal Tax $2,592,194 Total Local, State & Federal Tax $4,478,039