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Scale of Economy

THE INTERDEPENDENT INTEGRATED COMMUNITY

To compete for and to attract a core of distinctive employers and a skilled work force in the medical and technology fields, other than the miraculous surrounding of Peachland, NM must offer amenities to provide a quality of life that is both active and affordable.

For businesses to be prosperous, for costs to be affordable, for amenities to be maintainable and for environmental programs to be sustainable, a minimum level of Scale of Economy must be reached; the costs to provide programs that truly make a difference such as grey water recycling, a low energy shuttle, and minimizing the use of vehicles must be shared by an adequate number of residents, merchants and businesses.

For the retail village, 40 – 50 stores of small boutique merchants and medium size purveyors totaling about 10,000 sq.m. would be the minimum amount of space required to provide the variety needed to satisfy a Live, Work and Shop lifestyle within walking distance, and the synergy to attract tourists and neighboring consumers. For the village to be sustainable, a critical number of consumers will be required.

The residential portion, based on previously established density in Peachland’s community plan will yield approximately 2,600 – 2,800 units. This density, together with the density of the office component, according to the research on retail spending, should provide a level of expenditure sufficient to cover basic operating costs for the merchants. Expenditures from neighboring consumers and tourist will be required to make the businesses profitable.

15,000 sq.m. is the minimum amount of office space needed. The space required is also critical for the provision of a complementary mix of tenants, each being a link in the chain of services that generates revenues for the others. Making the office component a formidable business hub provides confidence to distinctive employers that New Monaco has all it takes to be a sustainable business community.

JOBS AND TAX BENEFITS

New Monaco is designed to attract employers and a skilled workforce.

In 2008, New Monaco retained Deloitte Financial to conduct a Socio/Economic Impact Study of the proposed development. A summary of benefits include:

  • Jobs created during construction: 16,545 person years of employment
  • Permanent jobs created (on and offsite): 1545 full-time
  • Ongoing annual tax revenues: $96.9 million annually
  • Tax revenues during construction: $261.8 million
  • Retail spending: $145 million annually

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THE SUSTAINABLE CYCLE Density and the Integrated Community

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