Economic Study Done For Balsams Developer Predicts Huge Fiscal Boost For Coos
The reopening and expansion of the Balsams resort would reverse more than a decade of declining wages and employment in Coos County, according to a new 25-page economic impact study by PolEcon Research of Dover.
It was commissioned by the developer, Dixville Capital LLC, headed by Maine entrepreneur Les Otten.
PolEcon said it had “full independence” from Dixville Capital and used “conservative” assumptions.
One projection is that there would be 1,700 direct or indirect jobs created in Coos County by 2024.
That includes construction and is based the completion of the first $143 million phase by 2016 followed by about $180 million in expansions between 2016 and 2024.
That means wages in the county would increase from about $19 million a year to $47 million a year in 2024.
The study also predicts meal and room taxes will provide $1.5 million to $4.6 million a year between 2016 and 2024.
And, it says, there would be economic benefits elsewhere in the state.
The developers hope to begin construction in June, but say that is contingent on the state approving a $28 million bond.