ECONOMIC IMPACT

RENOVATIONS

• The sales projected for the first 10 years for the Mall after the renovations are completed (but not including the expansion) exceed $3.15 billion. This amount includes an increase of $750 million over the projected sales without the renovations. This results in a projected increase in Spotsylvania County's share of the sales taxes generated by the renovations of more than $7.5 million in the same 10-year period.

EXPANSION

• The sales projected for the first 10 years for the expansion (not including the Mall) is $1.25 billion. This results in a projected increase in Spotsylvania County's share of the sales taxes generated by the expansion of $12.5 million over the same 10-year period.

• The combined economic impact of the renovations and the expansion will see a projected increase in sales of $2 billion over the first 10 years, resulting in an increase in sales taxes to the County over the same 10 years of $20 million.

• The total increase in real estate taxes projected for the first 10 years for the expansion, after it is fully developed, is $20.5 million.

• The projected number of new jobs created by the expansion is 1,050, with an annual payroll of $25 million.


SUMMARY OF ECONOMIC IMPACT FOR BOTH THE RENOVATIONS & EXPANSION COMBINED

• The sales projected for the first 10 years after the Mall renovations and expansion are completed is $4.4 billion, which is an increase of $2 billion.

• The projected increase in local sales taxes to the County for the first 10 years is $20 million.

• The total increase in real estate taxes projected for the first 10 years for the expansion, after it is fully developed, is $20.5 million.

• The projected number of new jobs created by the expansion is 1,050, with an annual payroll of $25 million.

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