The Economic Impact of Brewery Park
Did you know Brewery Park at Tumwater Falls has big plans? The Olympia Tumwater Foundation has hopes to construct a new building that would drive additional tourism to businesses all over Thurston County. The Thurston EDC recently conducted an economic impact assessment of the proposed construction project and estimated the value of this construction at over 40 full-time jobs, 4.5 million in labor income and 11.1 million in total economic output to Thurston County!
These impacts represent one-time economic impacts and are not sustained year-over-year.
However, the construction of the new facility will enable an increase of service offerings and is expected to generate additional tourism to Thurston County
and event space revenue. These impacts are on-going and are only made possible through the construction of the new facility.
The on-going (annual) economic impact associated with increases in tourism and event space revenue is estimated at 4.36 new full-time jobs, $187,412.56 in labor income and $506,075.57 in total economic output.
This economic increase in economic output is estimated to generate a one-time impact of $510,187.15 in state and local tax revenue and $27,508.37 in on-going state and local tax revenue.
Learn more about the economic impact of this project by reading the full report. Click here.
If your organization is interested in having an Economic Impact study conducted, please contact Gene Angel at [email protected].