Do we want a project that reduces property values by 20 percent, reduces property tax revenue and costs us jobs?
That’s Austin Quarry.
Austin Quarry would be a net negative for our Madera County economy:
- It would reduce property values within a 5-mile radius by up to 20%, for a total reduction between $443 million and $738 million.
- Increased travel times would cost residents between $1.7 million and $3.4 million each year.
- A quarry would generate only $128,000 in property tax per year, compared to $4.5 million per year if the site were developed as a residential community.
- The quarry’s net annual effect on the County budget would be a loss of between $5.4 million and $6.0 million, amounting to hundreds of millions of dollars over the quarry’s 100-year life.
- The quarry only needs 15 to 40 workers, and many of these would be specialized workers who would commute from outside Madera County.
- If the quarry site were to be developed as a residential subdivision, it would generate over 3,000 temporary construction jobs and dozens more long-term jobs for services such as gardeners and painters.
To Learn More:
“Economic Costs and Benefits of the Proposed Austin Quarry in Madera County” (October 23, 2014) by Gary Smith, Ph.D, Fletcher Jones Professor of Economics, Pomona College
The Board of Supervisors will hold a public hearing and then vote on September 12, 2016, at 9 a.m.
Address: 200 W. 4th St., in downtown Madera. Be there, and be heard.