1 / 18

The Economic Contribution of Tyson Foods to Pettis County

The Economic Contribution of Tyson Foods to Pettis County. Tom Johnson Director Community Policy Analysis Center University of Missouri-Columbia. Baseline and Scenario Analysis. Baseline 10 year projections assuming no major economic or policy changes Scenario Analysis

roland
Download Presentation

The Economic Contribution of Tyson Foods to Pettis County

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. The Economic Contribution of Tyson Foods to Pettis County Tom Johnson Director Community Policy Analysis Center University of Missouri-Columbia

  2. Baseline and Scenario Analysis • Baseline • 10 year projections assuming no major economic or policy changes • Scenario Analysis • Model of changes that may occur in the local economy • Examine the contributions of a particular industry to the local economy

  3. Tyson Foods Scenario • What if Tyson Foods were not operating in Pettis County? What would our economy and community look like now and in the future? • “New” baseline projections are based on the scenario • Scenario projections are compared to the baseline projections

  4. Information for Scenario Analysis • Tyson Foods survey • Total employment • Employee Payroll • Local purchases of inputs and business services

  5. Economic Activity of a Local Firm • Direct Contributions • Employment and Employee Payroll • Indirect Effects • Local purchases of inputs and services by businesses in the local economy • Induced Effects • Employee spending on goods and services in the local economy

  6. Scenario Analysis • Survey data analyzed through an input-output model to determine the indirect and induced effects • Backward Linkages • Goods and services purchased locally by Tyson foods • Examples: corn, office furnishings, accounting services

  7. Scenario Analysis (cont’d) • Employee Spending • Local purchases of goods and services by Tyson Foods employees • Examples: groceries, fuel, child care services • Total Economic Contribution • Direct Employment and Payroll • Effects from backward linkages • Effects from employee spending

  8. Employment Impacts • Direct Effects • 1800 employees of Tyson Foods • Effects of backwards linkages • 346.4 jobs • Effects of employee spending • 448.9 jobs • Total jobs supported by Tyson foods: • 2,595 jobs

  9. Sector Effects of Backward Linkages • Agriculture 195.3 jobs • Mining 0 jobs • Construction 33.9 jobs • Manufacturing 6.6 jobs • Transportation & Public Utilities 23.7 jobs • Wholesale and Retail Trade 41.6 jobs • Finance, Insurance, Real Estate 12.3 jobs • Services 30.2 jobs • Government 1.6 jobs • Other 1.2 jobs

  10. Sector Effects of Employee Spending • Agriculture 3.6 jobs • Mining 0 jobs • Construction 6.4 jobs • Manufacturing 9.8 jobs • Transportation & Public Utilities 15.8 jobs • Wholesale and Retail Trade 228.6 jobs • Finance, Insurance, Real Estate 31.2 jobs • Services 141.0 jobs • Government 5.0 jobs • Other 7.5 jobs

  11. Show-Me Model Projections • Total jobs and income supported by Tyson Foods entered into the Show-Me Model to measure the impacts on the county’s economy • Results compared to original baseline projections 1998-2009

  12. Scenario Results - 1998 Variable With Tyson Without Tyson % difference Population 37,069 32,382 -12.6% Labor Force 21,720 19,154 -11.8% Employment 24,709 22,114 -10.5% Unemployed 966 819 -15.2% Incommuters 4,201 3,759 -10.5% Outcommuters 2,719 2,285 -16.0%

  13. Scenario Results - 1998 (cont’d) Variable With Tyson Without Tyson % difference Per Capita 21,052 22,443 +6.6%Income ($) Total Income 780,384 726,737 -6.9%($000) Assessed Prop. 337,887 295,505 -12.5%Value ($000) Retail Sales 414,765 356,190 -14.1%($000)

  14. Scenario Results – 1998 (cont’d) Variable With Tyson Without Tyson % difference Property Tax 1,043,686 856,966 -17.9%Revenues Sales Tax 2,126 1,781 -16.2%Revenues($000) Total Revenues 5,816 4,687 -19.4% ($000) Total Expenditures 6,367 5,174 -18.7% ($000)

  15. Summary & Key Findings • Tyson Foods directly employees 1,800 people • Purchases of goods and services by Tyson Foods generates an additional 346 jobs • Tyson Foods employee spending generates an additional 449 jobs

  16. Summary & Key Findings (cont’d) • The presence of Tyson Foods generates a positive impact on population and labor force • Tyson Foods increases the total personal income in Pettis County by $53.6 million • Without Tyson Foods, retail sales and assessed property values would be lower. • Total revenues would be lower without Tyson Foods

  17. Questions and Discussion

  18. Thank you!

More Related