1991 New Mexico economic impact study for the Uranium Mill Tailings Remedial Action Project, Ambrosia Lake, New Mexico, site
The University of New Mexico Bureau of Business and Economic Research completed an abbreviated cost-benefit analysis of the income and employment impact of the US Department of Energy (DOE) and contractor offices in Albuquerque. Since the Project Office will have a significant positive impact on the State`s economy (shown on Table 8), the impact is combined with the impact of remedial actions at the Ambrosia Lake site to highlight the cost-benefit of the entire Uranium Mill Tailings Remedial Action (UMTRA) Project. The UMTRA Project at the Ambrosia Lake site will generate $12.509 million in gross labor income in New Mexico between 1989 and 1994. This includes $1.161 million in federal tax revenue, $1.015 million in State personal income tax revenue, and seven thousand in local tax revenue. The UMTRA Project will generate the equivalent of 84 full-time jobs during the peak year of remedial action at Ambrosia Lake site. New Mexico`s total funding requirement for the UMTRA Project is estimated to be $2.963 million. The net economic benefit of the Ambrosia Lake portion of the UMTRA Project to New Mexico after the State`s share of the project`s cost, the federal income tax, and the $0.936 million income impact of the alternate use of the State funding are subtracted, will be $7.451 million between 1990 and 1994. In Fiscal Year 1990 the UMTRA Project DOE and contractor offices in Albuquerque directly employed 163 people. Another 78 jobs were also maintained in support of the industry sector and 166 jobs were also maintained in other sections of the New Mexico economy. It is estimated that $19 million dollars of income was generated and 1.949 million of State and local taxes were collected. The University of New Mexico study shows that for every dollar the State of New Mexico invests in the UMTRA Project, it will realize $95.05 in gross labor income. This corresponds to a net return on the States investment in the Project of $97.20 for every dollar invested.
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|Subject:||nuclear fuel cycle and fuel materials | REMEDIAL ACTION | ECONOMIC ANALYSIS | MILL TAILINGS | FEED MATERIALS PLANTS | ABANDONED SITES | NEW MEXICO | FINANCIAL DATA | LABOR | INCOME | EMPLOYMENT | INVESTMENT | TAXES | STATE GOVERNMENT | LOCAL GOVERNMENT|
|Type of publication:||Other|
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