rosemont copper - a bridge to a sustainable future 33

SocioeconomicTITLE: The Impact of the Rosemont Mine on the

Economies of Pima County, Arizona and the United States

RELEASE DATE: August 2007PREPARED BY: Western Economic Analysis Center (WEAC)Brief Summary: This report on the impact of the Rosemont

project on the economies of Pima County, Arizona, and the United States was prepared by the Western Economic Analysis Center in Marana, Arizona. Pima County’s economy would gain nearly $256 million each year, along with 2,200 new jobs. Arizona’s economy would increase by an average of $488 million annually and the nation’s economy would benefit by more than $2.3 billion each year.

Personal income in Pima County would increase by a total of nearly $72 million annually, with local governments receiving a combined $16 million each year. The State’s businesses would see an average of $312 million in sales, Arizona residents would receive almost $126 million of personal income, and state and local governments would receive an average of nearly $49 million each year. American business firms would benefit by more than $1.5 billion annually in sales, and State and local governments would benefit from nearly $132 million in additional revenues each year.

TITLE: An Assessment of the Economic Impacts of the Rosemont Copper Project on the Economies of the Cochise/Pima/Santa Cruz Counties Study Area, Arizona, and the United States

DATE: November 2009PREPARED BY: L. William Seidman Research Institute,

W.P. Carey School of Business, Arizona State UniversityBrief Summary: The L. William Seidman Research Institute

in the W.P. Carey School of Business at Arizona State University used the REMI PI+ regional economic forecasting model to estimate the economic impact of the Rosemont project for the Cochise/Pima/Santa Cruz counties study area, the State of Arizona, and the United States. This model has been developed and tested over three decades and is widely used by most states and many private firms for regional forecasting.

The mine’s processing facilities will cost $897 million to develop and construct. When in operation, employment would average 406 per year, and total annual production costs would average $301 million per year during the 20-year production period.

In Cochise, Pima, and Santa Cruz counties, the construction and production/post-production phases would generate $797 million in economic activity each

year, $181 million in additional income, $5 million per year in revenues for local governments, and support 5,700 jobs.

For the two phases, the impacts would total $25.3 billion in additional demand for goods and services from suppliers, $8.2 billion in gross regional product, $3.1 billion in personal income, and $422 million in local government revenues.

The Rosemont project creates permanent economic growth in the region. Forecast results indicate that the level of economic activity would be $52 million per year higher, residents’ income $68 million per year higher, employment increases by more than 300 jobs, and local government revenues increase by $2 million per year more than if the project never existed.

In Arizona, the construction and production/post-production phases would generate $219 billion each year in economic activity, $263 million per year in additional income to residents, $38 million per year in revenues for the state government, and support 6,800 jobs.

For the two phases, the impacts would total $489 million in additional demand for goods and services from Arizona suppliers, $317 million in gross regional products, $182 million in personal income, and $23 million in state government revenues. Economic activity would be $111 million per year higher, state residents income $96 million per year higher, employment by 500 jobs higher and state government revenues $4 million per year higher than if Rosemont never existed.

Nationwide, the construction and production/post-production phases would generate $1.8 billion in economic activity per year, $554 million in additional income for U.S. residents, $181 million per year in additional revenues for the federal government and support 16,100 jobs for U.S. workers.

For the two phases, the impacts would total $29.3 billion in additional demand for goods and services, $15.1 billion in gross domestic product, $8.6 billion in personal income, and $3.2 billion in federal government revenues.

Socioeconomic studies looked

at the Rosemont project’s local, regional and national economic impact .