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Concept for Repurposing the Green Bay Correctional Institute Could Have a Sizeable Economic Impact

From St. Norbert College, September 4, 2018
by Mike Counter, mike.counter@snc.edu, 920-403-3089

St. Norbert College was commissioned by the village of Allouez to conduct an economic-impact study on repurposing the Green Bay Correctional Institution
(GBCI). The purpose of this study is to provide estimates of economic impact, in terms of jobs, labor income, output and tax revenues, for one conceptual plan
created by local leaders and citizens in the village of Allouez.

The GBCI, which opened in 1898, is in need of significant renovations in order for it to meet current security needs. While the decision to modernize the current
facility or build new in a different location is outside the scope of this study, local leaders are exploring potential mixed-use development opportunities for the
current location. GBCI is currently located on a 50-acre parcel just south of Wisconsin 172 near the Riverside Drive/Webster Avenue exit in Brown County. When
combined
with an adjacent 14-acre undeveloped parcel owned by the Wisconsin Department of Natural Resources, the potential redevelopment site covers 64 acres.

This conceptual plan to redevelop the GBCI site includes a combination of retail shopping, commercial office space, apartments, condos and luxury duplexes, and
a wide variety of community-oriented parks and recreational spaces. This conceptual plan is not a final version of redevelopment under consideration, nor has it
been officially endorsed by local leaders and constituents. It merely serves to offer estimates of potential economic activity for the redeveloped GBCI site.

Here are some of the key findings of the economic-impact study conducted by St. Norbert College:

• The conceptual plan for the redeveloped GBCI site can potentially employ 1,040 people and generate $39.6 million in income and $80 million in output
annually.
• These direct effects, along with their respective multiplier effects, suggest a total economic impact of 1,463 jobs, $59.3 million in income and $138.5 million in
output on Brown County annually.
• The conceptual plan suggests a possible new taxable property valuation of roughly $58.9 million as a median estimate and $71 million as a high-end estimate.
However, an alternative version of the conceptual plan that increases the building density by adding only one additional floor to the corporate and residential
units and a riverside luxury condo unit creates a $100.6 million property valuation as a high-end estimate, suggesting the property valuation has greater upside
potential
contingent upon the final site plan for the mixed-use development.
• Using the median property valuation estimates of the original conceptual plan, this redeveloped GBCI site could create $1.1 million to $1.4 million in new tax
revenue for the local government and public entities. Roughly 46 percent of that amount flows to the local school district, while the shares to the village of
Allouez, Brown County and the local technical college are 30 percent, 20 percent and 4 percent, respectively.
• Retail-sector entities are estimated to generate more than $49.8 million in total economic output, and hospitality-sector entities are estimated to generate
almost $4.2 million in additional sales. Sales tax revenue increases are estimated to be nearly $3.0 million.

These results suggest that the potential redevelopment of the GBCI site stands to generate a sizeable impact on the Brown County economy.

The study was conducted by the Center for Business & Economic Analysis (CBEA) of the Donald J. Schneider School of Business & Economics at St. Norbert
College. The CBEA was created to foster relationships among the faculty and students of St. Norbert College and the local community through serving
businesses, nonprofits and government in the greater northeast Wisconsin region. The CBEA comprises several St. Norbert faculty members and a team of the
college’s top students in
business and economics. The CBEA works to provide community-partner research, community-based research, speaking engagements and consulting services to
local partners.

To view the full presentation, download it at http://www.snc.edu/news/docs/GBCI_CBEA_Presentation.ppt.

For an infographic and key points summarizing the research, visit https://www.snc.edu/news/docs/GBCI_CBEA_Infographic.pdf.

For more information on this study, contact Marc Schaffer, associate professor of economics and director of the Center for Business & Economic Analysis at St.
Norbert College, at marc.schaffer@snc.edu.

For more information on plans for the Green Bay Correctional Institution, contact village of Allouez administrator, Brad Lange, at brad@villageofallouez.com.

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