Republic Services Announces $99 Million Economic Impact in Oregon
Company's Tax Revenue Impact is $8.5 Million Annually
PORTLAND, Ore., Oct. 6, 2017
PORTLAND, Ore., Oct. 6, 2017 /PRNewswire/ -- Republic Services of Oregon announced today the results of a study of its annual economic impact in the state. The study measures the direct and indirect economic impact of the Company's subsidiaries and operations statewide in 2016, including tax revenues, payroll expenditures and supplier purchases, as well as multiplier effects when income is reinvested into the local economy.
"With a focus on environmentally responsible operations, Republic Services of Oregon strives to be a good neighbor to the communities we serve across the state," said Gregg Brummer, area president. "Our impact helps us create good-paying jobs, invest in sustainable solutions and position Oregon's economy for its bright future. We remain devoted to serving residents, businesses and municipalities throughout Oregon with a mind toward sustainability, stewardship and respect, and we are committed to doing our part to move the state forward."
Republic employs more than 500 people in Oregon and serves 260,000 customers across the state. Republic also operates more than 40 collection trucks powered by compressed natural gas (CNG), three hauling companies, two recycling centers and one landfill. In addition, Republic serves 35 counties and municipalities – including Portland – statewide.
According to the study, Republic's economic impact in Oregon includes:
- 1,400 direct and indirect jobs; 1.8 jobs created for every full-time employee
- $59,000 average salary, which is 121% of the statewide average
- $99 million in total Gross State Product (economic impact)
- $77 million in total labor income impact (payroll)
- $8.5 million in total annual tax revenue impact
- $50 million in direct purchases
Nationwide, Republic's gross domestic product impact is estimated at $9.5 billion annually. This includes creating 106,500 direct and indirect jobs, and generating more than $1.4 billion in annual tax revenues for local, state and federal governments.
The economic impact study was conducted by Arizona State University's W.P. Carey School of Business, through the L. William Seidman Research Institute. The independent research team used an IMPLAN input-output model to estimate statewide multiplier effects, based upon data provided by Republic and other publicly available resources.
To view the full economic impact of Republic in the state of Oregon, go to https://www.facebook.com/RepublicServices/.
About Republic Services
Republic Services, Inc. (NYSE: RSG) is an industry leader in U.S. recycling and non-hazardous solid waste. Through its subsidiaries, Republic's collection companies, recycling centers, transfer stations and landfills focus on providing effective solutions to make proper waste disposal effortless for its 14 million customers. We'll handle it from here.TM, the brand's promise, lets customers know they can count on Republic to provide a superior experience while fostering a sustainable Blue PlanetTM for future generations to enjoy a cleaner, safer and healthier world.
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SOURCE Republic Services, Inc.