Development near Cascades Park to bring hundreds of jobs, millions in economic impact
from WCTV Tallahassee
Mariel Carbone
TALLAHASSEE, Fla. (WCTV) — As plans move forward for new development near Cascades Park, City and County leaders are looking at the numbers.
The Office of Economic Vitality presented new numbers on the economic impact the proposed development for the old Firestone and Bloxham buildings will have. The City-County CRA agreed to sell the sites to North American Properties for $4.28 million back in March.
According to the OEV, the total estimated cost of the project by the developer is $132 million. In return, it’ll create 916 direct jobs bringing $38.8 million in wages, and 1,283 indirect jobs creating $55.9 million in income. The operation impact with create 384 permanent jobs with $9.5 million in annual income and 310 indirect jobs with $13.6 million in income.
Overall, the project will have a $289.1 million indirect and direct economic impact.
“With over a quarter billion dollar positive economic impact, this is fantastic news. And we’re seeing this more and more all around our community, and it’s extremely encouraging for us to see,” said Ben Pingree, Director of PLACE.
Read the full story at wctv.tv