Originally Posted by
BrushStart
If each employee spends on average $50/week in the downtown economy, that's $600,000/mo injected into local businesses, or $7,800,000/yr. [[Obviously, those businesses and their employees also pay taxes to the city, so the gain is compounded.)
If the average salary of a BCBS employee is $50,000/yr, then total city tax revenue for all 3,000 employees at 1.25% will be $1,875,000.
Edit: If you add in 1,700 Quicken employees + 500 Galaxee employees each spending $50/wk downtown, that is an additional $3,380,000/yr or a total of $11,180,000/yr of support to local businesses. I think the amount will actually be much higher as people who rarely frequented downtown in the past will likely bring friends and family to the city to spend money as well. And, if people start renting or buying places to live, the number increases significantly as one's home is usually a person's biggest expenditure.