Economic Development Required to Achieve “full employment” Where You Live

Have you ever estimated the amount of economic development activity, in terms of  capital investment for new or expanding companies, that is required to create enough new jobs to achieve “full employment” (e.g., 5%) where you live?

I took a shot at it.

Below is a link to an example analysis for a county the following economic metrics:

Three year capital investment by new and expanding companies (2006-2008): $121,500,000
Related jobs created by these companies: 882
Average capital investment per job: $137,755

Population: 185,000
Labor force: 85,075

New jobs required to lower county unemployment rate (UR) 1%: 851
Estimated investment required to lower UR 1%: $117 million

New jobs required to achieve “full employment”: 7,500
Estimated investment required achieve “full employment”: $1 Billion

Click here for the analysis.

Click to access 2006-2008-anderson-county-full-employment-investment1.pdf

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