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Appendix A <br />Bayfair Center Farmers Market <br />Approximate Annual Economic Impact on the Local Economy <br />Estimated visits to the Bayfair Farmers Market* <br />(2,000 visits/week) x (52 weeks) = 104,000 total visits per year <br />(104,000 visits) / (2 person average per group) = 52,000 purchasing agents <br />($52,000) x ($25 average spent each visit) = $1,300,000 <br />Economic spin-off rate for farmers markets in local communities is that for every $1 spent at a farmers <br />market, $3 is spent at nearby local businesses.** <br />Therefore: <br />($1,300,000 in farmers market sales) x 3(dollar amount spent at nearby businesses) = <br />$3,900,000 spent at local businesses as a result of the farmers market <br />Therefore: <br />(1% local sales tax revenue) x ($3,900,000) = <br />$39,000 in general fund revenues generated each year as a result of the farmers market. <br />*Information compiled by the California Farmers Market Association, the market manager at Bayfair. <br />**Study of Cost and Benefits of California Certified Farmers Markets, Division of Marketing Services, <br />California Department of Food & Agriculture. <br />