A new report said today that Chattanooga Area Chamber of Commerce-assisted economic development projects from 2015 will create 4,945 direct and indirect jobs.
The analysis by the Chamber and Younger Associates projected economic impact of 2015 Chamber-assisted new business projects and expansions.
Chamber-assisted projects will create $238 million in annual economic impact from wages and operations, said the analysis.
Also, construction activity will create a one-time impact of $650 million locally as well as more than 700 construction jobs. In addition, the projects generate nearly $3 million annually in new tax payments to the Hamilton County Department of Education and city and county general funds, the report said.
For each dollar in incentives and Chamber economic development funding last year, these projects generate $1.57 in local tax revenue in the first year and $5.59 over the next 10 years, said the analysis.
Local businesses benefit from $191.4 million in new annual consumer spending as a result of the new jobs and wages, according to the report.
"It takes an economic development team to create results like those," said County Mayor Jim Coppinger in a statement.
"The city and our partners will continue to focus on smart economic development and creating more jobs to reach more Chattanoogans," said Chattanooga Mayor Andy Berke.