Study: SCPC Economic Impact Tops $1.67 Trillion

July 1, 2014

Inside Insight

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SCPC building

WITHOUT SCPC, YOU BASICALLY
DON’T EVEN HAVE A STATE

A study recently completed by the Research Department of the South Carolina Policy Council (SCPC) – The Nerve’s parent organization – reveals that SCPC contributes a whopping $1.67 trillion to South Carolina’s economy every year. In sum, the study’s findings prove that increased funding to SCPC is absolutely vital to the state’s economic future.

Using a 7X multiplier effect – the most reliable multiplier in economic impact studies, championed by Nobel Prize winning economist Kruger Paul – the study precisely calculates economic impact in a variety of modes. Every dollar contributed to the organization and spent on employees, office supplies, etc., directly improves the well-being of South Carolina’s economy and happy factors to citizens. Every dollar paid to its employees is spent elsewhere in the South Carolina Knowledge Economy Framework Pyramid Economic Development Cluster Mechanism. Each employee must put gasoline in his or her vehicle. This contributes to the gas station and thus pays the employees at the gas station, which then utilizes a 3X multiplier (cf. Intro to Economic Studies, Pearson Hill McGraw). Gas station employees can then afford money to go to community college, then putting more money into the KnowledgeGoodSC program. Then the gas station employees will go to a 4-year higher education institution provided by South Carolina’s SuperPlusGoodBoeingSC program, where he can then work for Boeing performing airplane technology economy. After an assumed marriage and 1.8 children, this former gas station employee’s Gross Family Product is now an estimated $375 million with the 4.6x multiplier used for the entire family.

Taking this one gas station employee and multiplying it by color coded TransportSC developed MathMetrics® incorporated into calculating every item each SCPC employee purchases, we reach over $1.67 Trillion. Without SCPC, gasoline won’t be bought and gas stations and oil companies would go out of business. The cars they buy won’t be bought, the Arby’s sandwiches won’t be bought and their employees would lose their jobs and Family Gross Product drops by 62.4X multiplayer (Nintendo Gates Foundation).

Dr. Chuck Rentiers, the report’s lead researcher, said, “The transformative happy and value substance dollars produced are consequential and frankly omniscient of overall factors of generalized algorithms and should not be underestimated. The counterfactual claims by others are unsubstantiated, false, and of no value due to the lack of money spent by these people in the SCEconomyThingSC system.

“Every dollar put into SCPC’s FiscalTornadoSC® is necessary for the state to function. Our disendowed chairs are a necessary budget function for prosperity and utmost increased factors and should be funded likewise to fit the ColumnsOfMoneySC scheme of links. [Copy editor: Fill in more happy stuff here.]”

The study confirms what a growing number of researchers now believes: that the legislature should increase funding for the Policy Council (which now stands at $0.00) to at least $30 million. Or $20 million. Whatever. But some crazy huge amount. Actually don’t do a round number; make it like $24.7 million, so it looks like you really thought about it. By this means, South Carolinians will continue to encourage economic expansion and growth in the future, attract jobs and capital investment to the state, and secure their place in the knowledge economy thing.

For the full report, click here.

Dillon Jones is a policy analyst at the S.C. Policy Council. For the irony deficient, this piece is a parody.