25 Sep Catoosa County Industrial Development Economic & Fiscal Impact Analysis
Location: Catoosa County, Georgia
Client: Chattanooga Industrial LLC
Lead Consultant: KB Advisory Group
Services provided: Economic and Fiscal Impact Analysis
KB Advisory Group conducts Economic & Fiscal Impact Analysis for Industrial Development in Catoosa County
KB Advisory Group (KB) Scope
Chattanooga Industrial LLC retained KB Advisory Group to perform an economic and fiscal impact analysis of a proposed industrial development in Catoosa County, Georgia, just south of Chattanooga, Tennessee.
The proposed development would include nearly one million square feet of commercial industrial space.
This analysis quantified the impacts of the planned construction and build-out and futured on-going property operations, including the direct economic effects, expressed in terms of:
- Local Public Revenues
- Real and Personal Property Taxes
- Sales Taxes
- Business Licenses/Fees
Additionally, the analysis quantified the indirect economic activity created by the completion of the development.
These impacts consist of corollary business activity in associated industries in the local area that are generated due to the proposed development at the subject site.
The subject site is in north Catoosa County, Georgia. Catoosa County is in northwest Georgia near the Tennessee border. The subject site is positioned immediately adjacent to Interstate-75 and to the city of Ft. Oglethorpe, GA. Chattanooga, TN lies 10 miles northwest of the site.
Within the subject site, the two development sites are bifurcated by Biggs Road. West Chickamauga Creek runs along the western extents of the subject site.
Chattanooga Industrial is proposing an investment of over $90 million that will yield over 900,000 square feet of industrial space.
KB Advisory Group found that the proposed development would provide Class-A industrial spaces suited for a variety of potential higher-end tenants.
The construction phase of the project would create local employment opportunities, including an estimated 789 new temporary jobs, as well as stimulate significant retail spending in the area.
Upon completion, the development would provide considerable benefits to the local economy and tax base, including 1,936 new permanent jobs, as well as over $1,000,000 in new property tax collections.
Additionally, KB analysts found that the project’s significant boost to public revenues through new annual property taxes would benefit both the Catoosa County’s Government and Catoosa County Schools.