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Potential economic Impact during interim programming

For Pittsburg and surrounding areas

The following numbers illustrate direct and indirect economic impact of the Colonial Fox Theatre Foundation's (CFTF) plan to operate the historic theatre on a limited basis following completion of an estimated $1 million upgrade to the facility set to be completed in 2013.

The upgrade construction will perform code and safety corrections to allow public events inside the theatre and relocate the best existing seats to the front of the house, providing a seating capacity of 200 for the events as detailed in the Colonial Fox Theatre Foundation Interim Phase Business Plan.1 The interim phase will continue until fundraising is complete for the planned complete refurbishment and expansion of the entire facility.

This interim phase plan could have the following economic impact on the City of Pittsburg over the next ten years:

*Economic impact over ten years:*
Increase in Total City Revenues		$294,000
Increase in local sales tax collections		$266,000
Increase in utility profits and franchise fees		$21,700
Increased City Property Taxes		$6,300
Increase in local personal incomes (salaries)		$4.1 M
Addition to the local property tax base		$310,000
Construction jobs at $44K over the next year		15
New permanent staff and hospitality jobs		22
Economic impact study conducted by Steve Robb, Municipal Consulting LLC