Republic Services Announces $187 Million Economic Impact in Missouri
Company's Payroll Impact is $140 Million Annually
INDEPENDENCE, Mo., Sept. 12, 2016 /PRNewswire/ -- Republic Services, Inc. (NYSE: RSG) announced today the results of a study of its annual economic impact in the state of Missouri. 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 Missouri goes far beyond recycling and waste solutions," said Jeff Kintzle, area president of Republic Services. "Whether it is job creation, tax revenues or community contributions, Republic has a sizeable impact on the economy and quality of life across the state. We are proud to do our part by investing in Missouri's vibrant future."
Republic maintains operating divisions in 26 Missouri cities and towns, including the metropolitan areas of St. Louis, Kansas City and Springfield. These divisions serve more than 125 municipalities across Missouri. Republic and its subsidiaries employ over 1,100 people, and operate more than 400 collection trucks, 10 landfills, nine transfer stations, two landfill gas-to-energy projects, and two recycling centers statewide.
"Republic Services is an industry leader, and their continued growth in Missouri is bringing new benefits to many communities across our state," said Daniel P. Mehan, president and chief executive officer of the Missouri Chamber of Commerce and Industry. "As Republic Services grows and invests here, more good jobs are being created in Missouri, and we can feel reassured that our waste is being handled by a cutting edge, community-focused business."
Republic's economic impact in Missouri includes:
- 2,800 direct and indirect jobs; 1.44 jobs created for every full-time employee
- $52,200 average salary, which is 113% of the statewide average
- $187 million in total Gross State Product (economic impact)
- $140 million in total labor income impact (payroll)
- $21 million in total annual tax revenue impact
- $97 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 Missouri, go to https://www.facebook.com/RepublicServices/.
About Republic Services
Republic Services, Inc. is an industry leader in U.S. recycling and non-hazardous solid waste. Through its subsidiaries, Republic's collection companies, recycling centers, transfer stations and landfills focus on providing effective solutions to make proper waste disposal effortless for its 14 million customers. We'll handle it from here.TM, the brand's promise, lets customers know they can count on Republic to provide a superior experience while fostering a sustainable Blue PlanetTM for future generations to enjoy a cleaner, safer and healthier world.
For more information, visit the Republic Services website at RepublicServices.com. "Like" Republic on Facebook at www.facebook.com/RepublicServices and follow on Twitter @RepublicService.
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SOURCE Republic Services, Inc.
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