The Village at Providence Point project is the type of economic engine the city of Annapolis needs right now. A recent letter to the editor (The Sunday Capital, April 9) continues the tired negative narrative that all development is bad and mentions nothing about business and job creation.
What the author fails to see is that the property is privately owned and can be developed in any way the owner sees fit and that the owner has already set aside part of the land to be preserved. The owner could easily develop all 111 acres of the property.
The author needs to see the benefits that the project will be generate and how that will provide a significant amount of progress for the city, as well as the environmental protection the owner is affording the city.
The Business, Economic, and Community Outreach Network of the Franklin P. Perdue School of Business at Salisbury University conducted an economic, employment and fiscal impact assessment of the development. The study states that the economic benefits of this project will not only bring money into the city, but will create plenty of jobs in both phases of the project.
The total annual economic impact of the operations of the proposed development for the city of Annapolis is estimated to be $231 million, with an annual fiscal impact of $1.8 million. The development will also support a total of 1,399 jobs.
In addition, the hospitality component of the development is estimated to bring in $380,000 in hospitality taxes annually, bringing the total annual fiscal benefit to $2.18 million.