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SSLC Completed
 
 
Market analysis completed for South Sound Logistics Center
(January 2008) The Chabin Team has completed a market analysis for South Sound Logistics Center (SSLC), in Washington.

The team was retained by the Port of Olympia and Port of Tacoma to conduct a market analysis of the proposed South Sound Logistics Center. The main objective of the market analysis was to identify potential industries for SSLC and to calculate the corresponding financial impact of establishing a logistics center in the South Sound region of Washington State. The results provide the ports with data to make informed decisions regarding the economic feasibility and direction of the proposed SSLC development.
 
Five target industries were identified for SSLC
  • Logistics/Distribution
  • Packaging Materials
  • Construction Materials Manufacturing
  • Fabricated Metal Products Manufacturing
  • Medical Supplies and Equipment Manufacturing
Along with the relocation and consolidation of the regional solid waste transportation center.  Long-term, the site would also include a rail intermodal center.

Projected economic impacts of this proposed development include:
  • Construction of rail facility, alone, would generate output impact of $40 million for the South Sound region and more than $50 million for the state. Value added expenditures, including things like employee wages, generate an additional $24 million for the region and at around $30 million for the state. Construction would support more than 400 jobs.
  • A full SSLC site, at build-out, would generate over $750 million a year for the state, with more than half of that being new money. It would also support about 3,900 jobs with a payroll somewhere in the vicinity of $230 million.
  • The SSLC could potentially add $55 million in state and local taxes per year, at full build-out.
  • On a time continuum, the  would generate about 450 jobs during construction, 850 jobs during the first year of operation, and possibly as many as 3,900 jobs at build-out (i.e., in the year 2025).
  • At full build-out, the SSLC could generate between $8.5 and $13.5 million in annual lease revenue. Property sales could net between $70 and $90 million, based on 2007 dollars and current market conditions.
  • In addition to nearly 1,900 direct jobs created, SSLC could stimulate that same number in indirect and induced jobs. Food and beverage venues, health care providers, retail stores and other local and regional businesses will benefit from the employment foundation created at the SSLC.
The Chabin Team included Chabin principal Allison Larsen, as well as consultants from The Austin Company, HDR Engineering, Inc., and IDI.
 
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