Attesa Economic Impact Summary Estimates $1.2 Billion Activity Through Construction, then 15,000 Jobs and $1.8 Billion Per Year Upon Completion

Danrick Builders has released a comprehensive economic impact study for the construction and operation of Attesa, the 2,510-acre transportation design and motorsports entertainment destination being developed near Casa Grande, Arizona.  The study was conducted by Elliott D. Pollack & Company of Scottsdale, one of the nation’s leading real estate and economic consulting firms.

Attesa_Image Credit - Future CitiesRESIZE

“We were pleasantly surprised with the report’s findings,” said Pat Johnson, President of Danrick Builders.  “It shows we’re on the right track with Attesa on all fronts.  Casa Grande and the State are going to begin benefiting the day we break ground and the impact is only going to grow going forward.”

 

The study, initiated in May 2016, estimates the economic and fiscal impacts of the master planned community.  It evaluates construction, operations and stimulated tourism based on projected land use by type along with an expected schedule of events.

 

With projected construction costs of $1.1 billion, Attesa would create a total of 9,565 direct, indirect and induced person years of employment during the construction period with $347.6 million in related wages and an estimated $1.2 billion in economic activity.

 

Upon completion, Attesa is projected to employ 13,331 full and part-time employees including race track, manufacturing and commercial jobs.  A ripple effect would generate an additional 1,722 indirect and induced jobs in Pinal County with $293.5 million in annual wages.  Total economic activity would average $1.8 billion each year.

 

During construction, the State will collect an estimated $53.4 million while Pinal County would collect $12.2 million including both construction sales taxes and secondary revenue generated by employees.  Operating revenues would be estimated $43 million per year for the State and $19.5 million for Pinal County.

 

Most of the on-track activity is going to be research, development and testing but Attesa also plans to host five major spectator events per year.  Pollack estimates total annual track attendance at 371,000, with visitor spending projected to be $40 million, including lodging.  Throughout the region visitor spending would support 510 jobs with wages of $11.8 million and total annual economic output of $41.8 million.

 

Visitor spending at Attesa is projected to generate $2.3 million in tax revenue for the State and $476,400 for Pinal County.

 

“Pinal County is very proud to be the location for Attesa,” said Tim Kanaval, Pinal County Economic Development Manager.  “This economic impact study validates all our efforts toward locating this remarkable automotive R&D and motorsports community here.  The numbers are remarkable and support our belief that Pinal County is on its way to being recognized as a global leader for transportation design technology.”

 

The economic impact study relies upon results and assumptions provided by Danrick Builders, Frost Motorsports and Hunden Strategic Partners for feasibility studies; and HilgartWilson, responsible for civil engineering, planning and construction management. Snell & Wilmer is responsible for zoning and land use.

 

“This study is impressive, especially since it was compiled using information that was good in 2016 but even better today,” said Dan Erickson, Member/Manager of Danrick Builders.   “We’ve purchased more land and expanded some areas to make Attesa even more of a world-class destination than we originally envisioned.  Lucid Motors has announced they are going to build cars in Casa Grande, Phoenix Mart is being built and we hear there are a number of other developments in the pipeline.  Add it all up and it looks like Pinal County is going to be one of the biggest economic engines in the Southwest for the next few decades.”

 

Attesa is currently going through the entitlement process in Pinal County with ground breaking expected in fall 2017.  Attesa will be a motorsports entertainment destination that will draw guests from all over the world, featuring two 2.8-mile road courses, hotel and convention center, industrial and residential parks plus a 6000-ft. private airstrip.

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