Oct 8 2014
Excelsior Mining Corp. is pleased to announce the results of a new Economic Impact Study for the Gunnison Copper Project, located in southern Arizona.
The study, completed by researchers at the L.W. Seidman Research Institute, W.P. Carey School of Business, Arizona State University, Tempe, AZ, illustrates that the Gunnison Project will generate significant positive economic benefit at both the State and County levels.
Highlights of the Gunnison Project Economic Impact Study include:
- Creation of an average of 819 jobs annually state-wide;
- 108 direct, on-site jobs; 711 in-direct or "secondary" jobs;
- US$2.94 billion added to Arizona's Gross State Product;
- US$319.9 million in State revenue generated directly from the project;
- US$756.8 million in economic activity generated in Cochise Country alone.
"This Economic Impact Study reconfirms that the Gunnison Project will have a dramatic economic impact on the local communities of Cochise County, as well as a profound influence on the economy of the State," said Stephen Twyerould, President and CEO. "As a resident of Arizona myself, I take great pride in being a part of a project that is poised to generate such substantial employment and wealth creation."
The full report, entitled Economic Impact of the Excelsior Mining Corporation on Cochise County and the State of Arizona is available here: http://www.excelsiormining.com/images/Presentations/Economic_Impact_Report_September2014.pdf
Using the data from the Gunnison Project's Prefeasibility Study ("PFS") (see news release dated February 18, 2014), this Economic Impact Study examined two scenarios: one in which Excelsior builds its own acid plant and one in which it acquires acid from a commercial supplier for the life of the Gunnison Project. The numbers and dollar values quoted in this news release are all based on Excelsior building its own acid plant and span the entire 27 year life of the Gunnison Project. This Economic Impact Study updates the previous Economic Impact Study that Excelsior had prepared based on the Preliminary Economic Assessment on the Gunnison Project.
The economic forecasts used in this study are based on an Arizona-specific version of the Regional Economic Models Inc. ("REMI") regional forecasting model to produce numeric estimates of the impact of a business upon the economy. This is a dynamic forecasting and analysis tool developed by Regional Economic Models Inc., which is recognized by the business and academic communities as the leading economic modeling tool available. REMI is also an open model in that it explicitly accounts for trade and migration flows in and out of the state, and between counties. The use of a county level model enables a more detailed disaggregation of results to occur, thereby estimating the economic impacts that "leak" into other counties in Arizona. The version of the REMI forecasting model used in this study is similar to the version currently in use by the Arizona Department of Commerce, the Arizona Joint Legislative Budget Committee, the Arizona Department of Housing and Arizona State University.
Source: http://www.excelsiormining.com/