Oil and economics: Industry contributes heavily to county economy

Oil and economics: Industry contributes heavily to county economy

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.

Read more here.

BACK TO NEWS
  • Facebook
  • Twitter
  • Email
  • Youtube Channel

Join our Coalition

Californians for Energy Independence is a coalition that supports state and local policies that allow for continued domestic energy production and opposes those policies – such as oil taxes and energy bans—that would hinder production and increase reliance on foreign oil.

SPREAD THE WORD

  • Facebook
  • Twitter
  • Email
  • Youtube Channel