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Monday, 08 September 2014 12:49

Study: Grand Rapids Whitewater project could generate $15M annual economic impact

Written by  MiBiz Staff
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A study released today by Grand Rapids Whitewater estimates the net annual economic impact for the proposed Grand Rapids Whitewater project will run between $15.9 million and $19.1 million.

The study – conducted by the Anderson Economic Group LLC – also projected taxable property values around the riverfront to increase $117.7 million. The project is expected to generate a further $285 million in new development.

An additional 1,520 jobs could be generated by the project, according to the study.

“This study came in with conservative number and there is a lot of other low-hanging fruit on the tree,” said Paul Isely, chair of Grand Valley State University’s Department of Economics, citing other economic values that the study did not encompass, such as population retention.

The Whitewater project - estimated to cost approximately $30 million - aims to remove all or part of five dams between 6th Street and Pearl Street, recreate rapids below the 6th Street dam and install a sea lamprey barrier along a 2.2-mile stretch of the Grand River through downtown Grand Rapids.

Read 1491 times Last modified on Tuesday, 09 September 2014 14:54

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