SteamPlant Economic Impact Study
Recent community discussions have raised questions about the economic and fiscal impact of the SteamPlant on Salida in addition to the cost recovery rate of operating the SteamPlant (i.e., the percentage of operating costs that are covered by SteamPlant revenues).
In support of these discussions, the City of Salida in 2016 applied for a grant from the Colorado Department of Local Affairs and retained BBC Research & Consulting (BBC) to provide a fiscal and economic impact analysis of the SteamPlant and represent how the facility complements the Salida economy and the vibrancy of downtown.
The report found, among other things, that based on the data collected by the SteamPlant and BBC’s analysis, the SteamPlant generates at least $1.2 million in direct economic activity in the local economy.
That spending recirculates in the economy creating a secondary impact of approximately $600,000 for a total economic impact of $1.8 million annually. Direct spending from the SteamPlant generates more than $70,000 in sales tax for the City of Salida and Chaffee County.
Read the whole report below or download it here.