The Electric Works name is a nod to the 100-plus year history of the GE manufacturing site, which originated as the “Fort Wayne Electric Works” and was later known as the “Jenney Electric Light Company.”
Source: WPTA / 21Alive
This past summer, RTM Ventures commissioned a national CPA and consulting firm to research and produce a detailed study of the expected economic impact study for Phase 1 of the project. Their analysis provides a data-driven narrative for just how transformative Electric Works.
Some highlights from the analysis include:
- Electric Works will increase tax revenues
- Federal, state, and local tax impact of $943 million over 20 years
- State tax impact of $220 million over 20 years
- Electric Works will create jobs
- 1,981 jobs during construction
- 2,830 jobs during operation
- 1,565 direct jobs on-site during operation
- Electric Works will grow the economy of northeast Indiana
- $283 million in economic impact during construction
- $387 million in annual economic impact during operation
You can read the entire analysis here: AN ECONOMIC IMPACT ANALYSIS OF: ELECTRIC WORKS – WEST CAMPUS