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The Adobe Press | September 06, 2014 | by Brian Bullock
According to a study done last year by the UCSB Economic Forecast Project for the Santa Maria Valley Chamber of Commerce, the $291.4 million is made up of $149.2 million in direct impact, $46.1 million in indirect impacts, and more than $96 million in induced impact. Direct impacts are expenditures and investments by oil companies in the local economy. Indirect impacts are purchases of goods or services from local businesses. And induced impacts are additional local spending by industry employees.
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