Economic Benefits
The $95 million Mint Project will generate several significant economic and cultural benefits for the San Francisco and Bay area communities. By connecting visitors with local retail, restaurants, and other cultural and entertainment destinations, it will become a dynamic catalyst for economic activity, creating both direct and indirect jobs and economic stimulus. Based on an economic impact study completed in 2008, the Mint Project will create over 225 jobs during the masterplanning and conceptual design phases. During construction, another 730 jobs will be created over a multi-year period and upon opening, another 375 full-time jobs will be created. Annually, the Mint Project will generate approximately $29 million in economic output and another $12 million in earnings during construction. After opening, its operations will generate another $26 million annually and approximately $10 million in earnings. Annual sales and hotel tax revenues will contribute another $830,000 in impact. Overall, the Mint Project will generate the following EACH YEAR:
Total New Output- $46 million
Total New Earnings - $14 million
Total New Tax Revenues - $836,300
This project will also act as a driver for the revitalization of the Mission Street corridor west of Fifth Street. The full economic impact study is available for download here.