VIAB Economic Impact Research – Company Case Study: Energix
Energix’s investment of $130 million in Virginia at end of the first quarter of 2020 will raise Virginia’s real (inflation-adjusted) Gross Domestic Product by $33.2 million by the end of 2020. By 2025, we estimate that Energix’s $130 million investment in 2019 and 2020 and the operations of its facilities in the Commonwealth will increase real GDP in Virginia by $48.7 million and create 30 new permanent jobs. In addition, Energix’s planned management operations in Northern Virginia will create 57 permanent jobs and raise Virginia’s real GDP by $5.5 million when hiring reaches planned levels.
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VIAB Economic Impact Research – Company Case Study: Oran Safety Glass
Oran Safety Glass (OSG) develops and produces safety glass at its Emporia, Virginia production facility. We conservatively assume that OSG sources its materials from other states and sells its products to the customers outside of Virginia. We estimate that the total economic impact of OSG’s operations in the Commonwealth of Virginia are approximately $400.0 million in 2019 dollars from 2009 to 2019. We also find that OSG’s overall impact on nonfarm employment in Virginia climbed from 107 jobs in 2009 to 239 jobs in 2019.
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VIAB Economic Impact Research – Company Case Study: ZIM Integrated Shipping Services Ltd.
ZIM Integrated Shipping Services Ltd. (NYSE ZIM) is a container shipment carrier with its U.S. headquarters in Norfolk since 2001. The company’s economic impact on the Commonwealth was $918 million during the period 2009 – 2019 (the period measures only half of the time the company was contributing to Virginia Economy). The contribution represents 4000 times the VIAB’s annual budget.
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