Projected Economic Benefit
The following projections are based on estimates provided by the City of Phoenix and Thomas J. Klutznick Company.
Municipal Tax Revenues
- $1 billion to the City of Phoenix over the life of CityNorth
- $22 million average annually during years 1 to 10
Construction Sales Tax
- City - $21,200,000
- State - $57,300,000
Jobs Created
- 16,000 during construction
- 19,000 during operation
As of July 2009, CityNorth has provided substantial economic benefits including:
- $6.5 Million in development fees and commercial, restaurant, construction, retail and residential-rental taxes.
- Local jobs including 75 subcontractors with approximately 600 construction workers for phase one.
- Numerous Intangibles for the City of Phoenix
Read more about this topic: City North
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