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Article: Menlo Gateway Will Deliver Significant Economic Stimulus to City of Menlo Park and Region Says New Study.
- Article from:
- Ecology, Environment & Conservation
- Article date:
- November 20, 2009
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The proposed Menlo Gateway project will provide a significant economic boost not only to the City of Menlo Park but also to the local regional economy, according to a new economic study released by Bohannon Development Company. Immediate economic activity from the construction of the project plus longer term benefits from new job creation and spending by employees and visitors are expected to create an economic ripple effect that will deliver on average an additional $0.55 to the local regional economy for every direct dollar spent.
The project's direct economic benefits include $265 million to be spent on construction, $13.2 million in one-time impact fees to the ...