The Buckeye Lake 2030 (BL2030) Corporation has released an Economic Impact Study executed by Gruen Gruen + Associates (GG+A). GG+A provides contract research and analysis executed by a collaborative team of urban economists, marketing strategists and land use / public policy analysts.
The study, intended to project the impact of the BL2030 Community Vision, is predicated upon the completion of the Buckeye Lake Dam restoration in 2018 as initiated by Governor John Kasich. It provides “initial order-of-magnitude estimates that characterize the economic and fiscal ramifications of successfully implementing and realizing the BL2030 Vision.”
According to the data aggregated by GG+A, the Buckeye Lake region will see 3,900 to 6,300 new jobs, specifically in food and beverage, arts and entertainment, accommodations and retail.
In addition, the region will see $11 – $17 million in annual direct property tax from new housing and lodging, and $240 – $390 million in direct annual lodging revenues and visitor spending.
The study projects 2.5 to 4.3 million visitors to Buckeye Lake per year accompanied by overall economic growth of 250% – 400% in the Buckeye Lake Region by the year 2040.
“This is the first concrete, measurable, and very encouraging outcome of the Buckeye Lake Community’s vision of the future adopted in May 2016,” Yaromir Steiner, Regional Planning Task Force leader said. “It shows that we can build a prosperous community great for raising families and contributes to the quality of life of our region. This is also a good precedent for the initial planning efforts that will commence late Spring of this year.”
The GG+A study was paid for by the BL2030 Corporation with a grant from the Buckeye Lake Community Foundation Fund. Downloadable PDFs of the announcement press release, the study and an infographic detailing the highlights from the executive summary are available below.