Republic Services Announces $230 Million Economic Impact in Nevada
Republic Services, Inc. (NYSE: RSG) announced today the results of a study of its annual economic impact in the state of Nevada. The study measures the direct and indirect economic impact of the Company’s subsidiaries and operations statewide in 2015, including tax revenues, payroll expenditures and supplier purchases, as well as multiplier effects when income is reinvested into the local economy.
“Our impact in Nevada goes far beyond recycling and waste solutions,” said Tim Oudman, market vice president for Republic Services. “Our people and operations afford us a tremendous opportunity to help power every segment of commerce. We make a sizeable imprint on the economy and quality of life across Southern Nevada, and we are proud to do our part by investing in Nevada’s vibrant future.”
Republic employs 1,300 people in the Southern Nevada area serving more than 535,000 local customers across the City of Henderson, North Las Vegas, Las Vegas, and Clark County. Republic owns and operates a fleet of more than 430 collection trucks, including 153 trucks powered by Compressed Natural Gas. In addition to the Southern Nevada Recycling Center – North America’s largest and smartest residential recycling center – Republic operates two transfer stations, one landfill and one natural gas fueling station locally.
“Republic Services is a good community partner that has made a strong, positive impact on job creation, our economy and the environment,” said Kristin McMillan, president and CEO of the Las Vegas Metro Chamber of Commerce, the leading business association in Nevada. “Republic Services’ continued growth, investments and commitment to Nevada are bringing new benefits to many communities across our state. Through good paying jobs, tax revenues and community contributions, Republic Services is doing its part to help Nevada move forward.”
According to the study, Republic’s economic impact in Nevada includes:
3,000 direct and indirect jobs; 1.35 jobs created for every full-time employee
$72,000 average salary, which is 157% of the statewide average
$230 million in total Gross State Product (economic impact)
$185 million in total labor income impact (payroll)
$23 million in total annual tax revenue impact
$81 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 Nevada, go to https://www.facebook.com/RepublicServices/.