2008-04-15_REVISION - M1980244 (307)

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• Table 6 -Current Employment and Earnings Effects of the Labor and Operations & Maintenance Expenditures of CC8~V, By Place of Residence, 2007 Expenditures for Gold Mining. Industry # 2122A0 Teller County Region State Employment Effect Direct Employment, by place of residence 194 332 350 Employment Multiplier 3.065 3.606 4.720 Induced FTE Employment 401 865 1,302 Total FTE Employment Effect 595 1,197 1,652 Earnings Effect Direct Earnings (in thousands) (2) $12,318 $20,460 $22,547 Earnings Multiplier 1.573 1.85 2.276 Induced Employment Earnings (in thousands) $7,052 $17,391 $28,770 Total Earnings Effect (in thousands) $19,371 $37,851 $51,317 (1) Multipliers for gold mining prepared by Colorado State Demographers Office for region. Reduced for Teller County by 15% based on ratio of multipliers for mineral producing regions to Colorado Springs region (2) Average annual wage 8 benefits of CC&V equals approximately $62,000 Source: Colo. Div. of Local Gov. & David Bamberger & Associates CJ • The total number of direct CC&V jobs located in Teller County in 2007 is 332, of which 194 are filled by Teller County residents. As a result of the 332 jobs at the mine and the 18 people in the Denver corporate office that provide varying levels of support to CC&V, a total of 595 jobs exist in Teller County, 1,197 jobs exist in the region and 1,652 jobs in the state resulting from expen- ditures of CC&V for operations and maintenance. Of the 332 direct jobs, 194 are filled by County residents, resulting in another 401 jobs for other Teller County residents. These numbers exclude other current additional jobs created by other CC&V expenditures, the effects of which are estimated in Tables 9-14. Total direct earnings of the 194 CC&V employees who are residents of Teller County totaled approximately $12.3 million in 2003. The adjusted RIMS earnings multiplier is 1.573 and in- duced earnings add another $7.1 million to the total earnings of Teller County residents. Total direct and induced earnings in Teller County resulting from CC&V's labor expenditures cur- rently (2003) total about $19.4 million per year. At the regional and state level, the total annual earnings effects are $37.9 and $51.3 million respectively. These figures do not include earnings effects of other expenditures of CC&V, such as for contributions, expansion, exploration, sever- ance tax payments, royalty payments, and reclamation. These effects are addressed later in the study. Table 7 shows employment effects upon Teller County from the activities of CC&V for several previous years. As can be seen from this table, the number of jobs supported in Teller County by the operations and maintenance activities of CC&V have increased from 224 in 1993 to 595 in 16