Quote:
Originally Posted by speede5
Here's my rub.
If you are telling the bidding cities that they will see 50,000 jobs at ~100K you give the impression there will be a huge economic impact. That many people working at above average salaries would have a huge impact on the local real estate, restaurants, etc.
This sounds awesome and is what municipalities are clamoring for.
But
If one person is making 500k and 10 are making 50k, the impact is considerably less. Those 10 have limited disposable income and will have a minimal effect on the local economy. Buddy making 500k is banking at least half of it, which has 0 positive effect on the local economy.
This sounds pretty meh and isn't worth selling your future for.
At the end of the day it's a lot of jobs and should be a good thing as long as the incentives are balanced. 7B in incentives seems ridiculous.
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It's not just 50,000 jobs.
On average, an average worker is probably bringing a spouse and one kid with them.
Assume 35,000 new workers needing to move here, with another 70,000 people attached to them. Assume the associated wife/husband also wants a job.
It used to be a commonly accepted economic principle that every factory job created another 3 service jobs in the community. So, 150,000 other jobs to support the 50,000. Assume 100,000 of those people also have to come from other places.
So, 170,000 new jobs or people looking for jobs, reflecting an additional 205,000 people (including kids) in the city or area.
Not counting other, unrelated, organic growth.
A megalopolis like Toronto can absorb that easily enough. For a place the size of Calgary, it could change the character of the city.
Just spitballing.