Economic Impact
Economic Impact with population increases:
If the strategies and solutions outlined in this action plan and available and recommended properties were to be developed, the following would be the local economic impact in the county, per city.
Of the potential new population increase, roughly 1,015 will be adults, who would spend an average of $10,000 a year into the local economy. The following is an estimate of economic impact broken down by city:
| Total potential… | ALLERTON | CLIO | CORYDON | HUMESTON | LINEVILLE | MILLERTON | PROMISE CITY | SEYMOUR |
|---|---|---|---|---|---|---|---|---|
| New households | 113 | 49 | 414 | 34 | 50 | 13 | 55 | 189 |
| Population increase | 291 | 128 | 1068 | 87 | 128 | 33 | 142 | 487 |
| Annual Economic Impact | $1.25M | $549k | $4.6M | $373k | $550k | $143k | $612k | $2.09M |
Economic Impact for Wayne County School Systems:
Potential children into the local school system. Potential dollars into the local school system = estimated $6,000 from the state per pupil.
(Based on estimated population increase of 1.47- current rate children/household in Wayne Co.)
| Total potential… | ALLERTON | CLIO | CORYDON | HUMESTON | LINEVILLE | MILLERTON | PROMISE CITY | SEYMOUR |
|---|---|---|---|---|---|---|---|---|
| School District | Wayne | Wayne | Wayne | Mormon Trail | Wayne | Wayne | Seymour | Seymour |
| +Students | 166 | 73 | 609 | 50 | 73 | 19 | 81 | 278 |
| Economic Impact | $994k | $436k | $3.65M | $297k | $437k | $114k | $487k | $1.66M |
| Total Wayne Community School District: | $5.63M |
| Total Mormon Trail Community School District: | $297K |
| Total Seymour Community Schools District: | $2.15M |
Total Economic Impact potential per community (+ property tax income):
| ALLERTON | CLIO | CORYDON | HUMESTON | LINEVILLE | MILLERTON | PROMISE CITY | SEYMOUR |
|---|---|---|---|---|---|---|---|
| $2.24M | $986k | $8.25M | $671k | $987k | $257K | $1.10M | $3.76M |
Total Economic Impact combined:
$18.25M
+ property tax income