Sierra Planning and Management Velodrome - Town of Milton

Sierra Planning & Management
62
62 Velodrome Business Plan – Town of Milton
Exhibit 30
Business Plan | January 2012
Source: Sierra Planning & Management
Note, these are capital costs associated with economic impact and include labour and materials but exclude a range of other non-material/nonconstruction
cost elements including cost contingencies, financing costs and cost escalations among other items.
9.2.1 GROSS DOMESTIC PRODUCT (GDP) IMPACTS FROM CONSTRUCTION ACTIVITY
Gross Domestic Product (GDP) is an alternative measure of impact and conceptually equates to measures
of economic production (output), income (employment income plus profit for owners and corporations)
and spending 17 . The following estimates of GDP as a measure of impact of the construction of the facility
include direct impacts, in-province indirect impacts and “rest of Country” indirect impacts.
17 The production approach to measuring GDP estimates the value of an output (goods or services) less the value of inputs used in the output’s
production process; The income approach to measuring GDP estimates the wages (individuals) and profits (owners and corporations) arising from
the production of good and services; and, the spending approach to measuring GDP estimates total expenditure on finished or final goods and
services produced in the domestic economy.