Economic Impact of Texoma Council of Governments in FY 2021

The Texoma Council of Governments directly employs 47 workers. The total salaries and benefits paid to these individuals is approximately $3.0 million. The organization’s operating expenditure during FY 2021 totaled approximately $13.7 million. This direct economic activity supported indirect and induced economic impacts during the year, as shown below.

Texoma Area Impact

As shown above, the organization’s annual expenditures and salaries in the Texoma Area of $13.7 million supported another $6.9 million in sales in businesses and other organizations in the region. In total, TCOG supported $20.6 million in economic output or revenues for businesses in the region.

The organization directly supports a total of 47 direct jobs and an additional 55 indirect and induced jobs in the region. In total, TCOG supported 102 employees in the region.

Similarly, while compensation for the organization’s employees totaled $3.0 million, the organization’s spending and spending of its employees supported another $2.3 million in compensation for workers in spin-off jobs in the region. Therefore, TCOG supports annual salaries of $5.3 million in the region.

Statewide Impact

Spending that takes places beyond the immediate three-county region expands the Texoma Council of Governments” impact. As shown in the State of Texas column, the organization’s impact statewide is slightly larger than the local Texoma Area impac The statewide economic impact in revenues for businesses is $27.5 million or about $6.9 million greater than the local impact. It is important to note the local impact represents a subset of the statewide impact.

Value of Volunteers

The Texoma Council of Governments coordinates many volunteers in conjunction with the Aging Services Department. These volunteers counsel the elderly, assist residents with administrative tasks and provide mentors to school children. During 2021, Texoma Council of Governments volunteers provided 4,635 hours of service, valued at $135,157.

In order to value the significant contributions of these volunteers, it is common to value the volunteer time at an hourly rate. The hourly rate used in this analysis was obtained from the Independent Sector, a leadership network for nonprofits, foundations, and corporate giving programs committed to advancing the common good in America and around the world. The hourly rate for volunteer time is $29.16 per hour which is based on the average hourly earnings of all private workers in the state.

Additional Economic Impacts

The Texoma Council of Governments supports taxable sales and taxable residential property in the area that generate tax revenue for local taxing districts. The spending by workers is summarized next, followed by a summary of residential property supported by the organization’s activities as well as its direct, indirect and induced workers.

Taxable Worker Spending and Total Taxable Spending Supported by TCOG

The total taxable spending supported by workers was estimated to be $902,000 as shown below. Workers spend approximately 25% of salaries on taxable goods. It is assumed that approximately 90% of this spending takes place in the region.

Residential Property on Tax Rolls

Although TCOG’s property is not on local tax rolls, direct and spin-off workers in the community own or occupy residential property on which they directly or indirectly pay property taxes. In addition the housing vouchers paid by TCOG contribute to rent payments which indirectly supports a portion property taxes on these residential properties. In total, Texoma Council of Governments supports $25.76 million in residential property in the region.

Property supported by direct and indirect workers

The table below summarizes the taxable value of residential property supported on local tax rolls by direct and indirect workers in the area.

Property supported by housing vouchers

In addition to the residential property owned or occupied by workers supported by the Texoma Council of Governments, the organization supports residential property taxes through the housing voucher payments. The average taxable value of an apartment in the area is approximately $37,500 but the vouchers only support a portion of this value. The average housing voucher during 2021 represented approximately 51% of the total rent. Therefore we estimate the total taxable value of residential property supported by vouchers as 64% of the total taxable value of rental properties supported by the 502 families receiving vouchers.

U.S. Census information for Cooke, Fannin and Grayson counties indicates that worker households have approximately 2.6 residents on average and 0.5 school children on average. Based on the number of worker households, the following table summarizes the number of residents and school students supported by the organization.

The economic impacts listed above translate into fiscal impacts for the state and local taxing districts as discussed on the next page.