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Economic Impact Analysis The economic impact analysis would focus on the likely effects of the proposed project (and alternatives) on businesses and jobs in Redwood City. Economic Task 1: Project Initiation and Initial Data Review We will meet with City staff to go over the topical and geographic dimensions of the economic analysis (should it cover impacts in nearby cities? impacts on overall average employee compensation as well as on number of jobs and impacts on competing businesses?) and the types of data available on relevant existing conditions in Redwood City (e.g., sales tax data and retail space inventory by geographic subarea). Once the scope of the economic analysis has been refined, we will ask Costco to provide information about the proposed project that is relevant to the economic analysis; that is, information that will allow us to estimate the impacts of the store expansion and gas station on jobs and retail activity. For example, we would ask about the use of store space (area devoted to different uses/types of goods) in the expanded store compared to the existing store; typical sales per square foot, the number of jobs in the existing and expanded stores (and gas station), and wages and benefits associated with those jobs. Economic Task 2: Assemble Background Data Current Retail Spending. We will obtain sales tax data for the city of Redwood City, listing sales in various types of outlets, from the State Board of Equalization. At the same time, we will ask the City if it is possible to obtain - e.g., through their sales tax consultant - more detailed data by geographic area (e.g., concentric circles around the Costco site). We know the information available through the City's consultant is outlet-specific and therefore may not be disclosed to the public. This level of detail is desirable, however, to provide a basis for the most accurate assessment of possible impacts of the proposed project. M&A would commit in advance not to divulge confidential data. We will consult with City staff about whether the economic analysis should extend to outlets south of the City limits into Menlo Park, recognizing that it may be difficult to obtain retail sales tax data at the desired level of detail for locations outside Redwood City. Existing and Future Demand for Goods Offered at Costeo. To project the future level of support for retail space and gas stations, we will assemble information about projected population growth in Redwood City and the surrounding area, and particularly in emerging areas that are expected to be predominantly residential for the next 5 to 10 years. This information will provide the basis for projecting future demand for retail goods in the market area. Worker Compensation. Finally, we will ask the City for information about typical wages- and-benefits paid to retail workers in Redwood City. If this information is not available from the City, we would attempt to get it from the Chamber of Commerce, the Downtown Business Group, or a similar source. ",---'------y-" .