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Hood Canal project could result in expensive economic impacts, says assessment 10/31/02 Port Angeles, WA-- An assessment prepared for the City of Port Angeles shows more than $19 million in direct economic impacts could result from the upcoming Hood Canal Bridge construction project. The study shows a proposed graving dock could support between 80 and 120 workers at any time over the life of the project -- with an average wage estimated at $56,200. E.D Hovee and Company of Vancouver, Washington prepared the analysis which shows the first set of impacts is associated with the construction of the graving and elevator docks -- at between $11.5 and $18.5 million. The analysis says the second set of impacts are from the actual construction of the bridge, based upon Port Angeles being the primary staging area. The value of the construction that might occur in PA, excluding docks, is estimated at between $112 and $125 million. Local jurisdictions would benefit fiscally from sales and property taxes. Local sales taxes are conservatively estimated at $602 million. The analysis adds the proposed graving dock could provide economic and fiscal opportunities well beyond those estimated in the project -- including additional Puget Sound bridge construction projects, ship repair and other large scale construction or repair projects. A separate analysis is being prepared that outlines additional market opportunities for the proposed Port Angeles graving dock. |