The Indian River County Chamber of Commerce released an economic impact brief today which the extensive impact Piper’s current operations and its more than 1,000 employees have on residents and other businesses in the local marketplace. The Chamber contracted with The Washington Economic Group (WEG) in Miami to conduct the study. This impact includes the effects of direct, indirect and induced economic activities. The Chief Executive Officer of WEG, Mr. Antonio Villamil, is former director of the Florida Office of Trade, Tourism and Economic Development, and served as U.S. Undersecretary of Commerce for Economic Affairs.
“We knew that Piper had a huge influence on our local economy, but I don’t think anyone was expecting it to be a half billion dollars per year”, commented Gary Wheeler, Chairman of the county’s Board of County Commission. “I think we can all see that Piper is a valued contributor, not just to the local economy, but to Florida’s economy”.
In reviewing various aspects of the study, Piper operations support additional employment throughout the local economy. As stated in the report, a “significant 2,136 high-wage jobs in Indian River County result, directly or indirectly, from Piper’s current operations.” According to WEG’s study, Piper currently purchases over $32 million of goods and services from other Florida businesses to support its manufacturing operations, and draws over 500 business partners and visitors from around the world to its Vero Beach facility each year. WEG utilized the Minnesota IMPLAN Group, Inc. software to formulate the economic multiplier model developed for this Brief. IMPLAN is wildy utilized by governments and economic development agencies throughout the United States.
“As the largest private employer in Indian River County, Piper Aircraft is a key player in our local economy, and an identifier for Vero Beach”, adds Tom White, Mayor of the City of Vero Beach. “We respect them, and consider them as good corporate neighbors. It’s our hope they will continue to flourish in our local area.”
The Indian River Chamber and local officials are working with Piper’s management team and its site location consultants to bring the manufacture of the new PiperJet to the Vero Beach Municipal Airport. A public meeting is scheduled for Wednesday, May 9, at 9:00 a.m. in Vero Beach City Council chambers to discuss this project. No further comment on the project was available from the Chamber or local government officials.
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Helene Caseltine, Economic velopment Director
P.O. Box 2947
Vero Beach, FL 32961
PH: 772-567-3491 // Fax: 772-778-3181
web site: www.indianriverchamber.com
For further information, contact:
Mark S. Miller
(772) 299-2900
Fax: (772) 978-6597
mail to: m.miller@piper.com
www. piper.com