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TCOG’s Fiscal Year 2011 Economic Impact Statement

TCOG's Fiscal Year 2011 Economic Impact Statement

News Release
For Immediate Release

Organization generated $34 million for Texoma

SHERMAN, June 21, 2012 – Dr. Susan Thomas, Executive Director of Texoma Council of Governments (TCOG) announced tonight to the TCOG Governing Board that TCOG’s total economic impact on the Texoma economy during fiscal year 2011 was more than $34 million.

From the total number of jobs and supported earnings to the tax revenues generated by our activities, TCOG is making a positive mark on Texoma.

Susan B. Thomas, PhD, Executive Director

In her report to the TCOG Board Thomas stated, “What this report shows is TCOG is a significant economic player in Texoma. Our programs and services provide direct support to many families in our region, but we often fail to consider the additional jobs, business revenues, and tax revenues that are supported because of the work we do at the COG.”

The Report of the Economic Impact of TCOG During Fiscal Year 2011 was completed by Impact DataSource (Austin, TX) who calculated TCOG’s economic impact on the three-county region by looking at direct, indirect, and induced forms of impact, including workers’ salaries, volunteer hours, expenditures to local vendors, and supported tax base and tax revenues.

Thomas commented that one of the most meaningful parts of the report is the volunteer hours. “182,850 volunteer hours is the equivalent of more than 87 full time employees and it’s valued at over $4 million dollars. Our volunteers are essential to successfully achieving the TCOG mission, and each one of them brings tremendous value to the organization and the region.”

Thomas concluded, “I think we are all very well aware of the direct impact we have in the region, but when we consider how that impact multiplies over and over again and how each dollar the COG spends turns over in our cities and counties, the impact is truly impressive. From the total number of jobs and supported earnings to the tax revenues generated by our activities, TCOG is making a positive mark on Texoma.”

The Texoma Council of Governments is a voluntary association of the local governments in Cooke, Fannin, and Grayson Counties. Established in 1968, the Texoma Council of Governments promotes economy and efficiency in the coordinated planning and development of the tri-county region through its community and economic development activities. Either directly, or through contractors, the Council provides housing, utility assistance, and weatherization services for low-income citizens in the region and assists the elderly through a variety of Area Agency on Aging programs. The Council also facilitates the delivery of grant funding for homeland security and criminal justice.