Google Data Centers Economic Impact and Community Benefit

GOOGLE DATA CENTERS APRIL 2018 Economic Impact and Community Benefit 2 | GOOGLE DATA CENTERS: ECONOMIC IMPACT AND COMMUNITY BENEFIT CONTENTS 4 EXECUTIVE SUMMARY 6 INTRODUCTION 8 NATIONAL ECONOMIC IMPACT 8 Google Data Centers Support Jobs, GDP, and Income Growth 11 Examining Wider Impacts in the Economy 15 STATE-LEVEL IMPACT 15 GDP, Income, and Jobs 18 LOCAL SPILLOVER EFFECTS 19 Employment Effect 20 Education Effect 22 RENEWABLE ENERGY INVESTMENT 22 Renewable Capital Investment Overview 23 Recurring Impacts from Renewable Operations 25 CONCLUSION 26 APPENDIX A: ECONOMIC IMPACT METHODOLOGY 29 APPENDIX B: STATE ECONOMIC IMPACT DETAIL 35 APPENDIX C: REGRESSION METHODOLOGY GOOGLE DATA CENTERS: ECONOMIC IMPACT AND COMMUNITY BENEFIT  | 3 OXFORD ECONOMICS Oxford Economics was founded in 1981 as a commercial venture with Oxford University’s business college to provide economic forecasting and modeling to UK companies and financial institutions expanding abroad. Since then, we have become one of the world’s foremost independent global advisory firms, providing reports, forecasts, and analytical tools on 200 countries, 100 industrial sectors, and more than 3,000 cities. Our best-of-class global economic and industry models and analytical tools give us an unparalleled ability to forecast external market trends and assess their economic, social, and business impact. Headquartered in Oxford, England, with regional centers in London, New York, and Singapore, Oxford Economics has offices across the globe in Belfast, Chicago, Dubai, Miami, Milan, Paris, Philadelphia, San Francisco, and Washington, DC. We employ more than 300 full-time people, including more than 200 professional economists, industry experts, and business editors—one of the largest teams of macroeconomists and thought-leadership specialists. Our global team is highly skilled in a full range of research techniques and thought-leadership capabilities, from econometric modeling, scenario framing,