Local officials have compiled new data demonstrating the economic impact of the Museum Reach portion of San Antonio River improvements.
That price tag for that 1.3 mile leg of improvements north of downtown was $72 million. However, officials with the City of San Antonio and the San Antonio River Authority point to numbers provided by Alamo City economist Steve Nivin which indicate that the total annual economic impact from the Museum Reach redevelopment is nearly double the initial investment.
The project, completed in 2009, has catalyzed development along the Museum Reach, attracting 50 new businesses and more than 1,200 new housing units, representing in excess of $253 million in private investment. According to Nivin, those businesses employ the equivalent of 800 full-time positions and support more than 1,200 jobs across the city.
Nivin estimates that the cumulative impact of these businesses generate a direct output of more than $81 million and a total economic impact of $139 million annually.
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