Chevron impact on the Richmond economy

Beacon Economics, a San Francisco-based independent research firm, was hired by Chevron Richmond to conduct an economic impact study and measure the Chevron contribution to the local, regional and statewide economy. The results are in, and the Chevron impact on the Richmond economy is clear: overall it has a significant and positive impact in Richmond and West County.

chevron richmond refinery modernizationAs the largest employer in Richmond, Chevron Richmond supports thousands of jobs in the community, including more than 3,600 employees and contractors. But its contributions to the local and regional economy create thousands more jobs, in addition to hundreds of millions of dollars in economic activity both in Richmond and throughout California. The snapshot below illustrates the benefits of the Chevron impact on the Richmond economy and the region.

Chevron impact on the Richmond economy

LOCAL SPENDING

Chevron Richmond spends tens of millions of dollars each year on goods and services from businesses in Richmond and West County. Chevron Richmond’s local spend has a ripple effect that positively benefits the local economy, resulting in:

  • $81.9 million Revenue generated for local businesses each year.
  • 506 Additional jobs created in Richmond and West County.
  • $7.7 million and 81 jobs Revenue generated and jobs created as a result of the social investments made by Chevron Richmond and its employees to nonprofits in Richmond in 2012.

ECONOMIC BENEFITS OF THE RICHMOND REFINERY MODERNIZATION PROJECT:

The Refinery Modernization Project would create a newer, safer and cleaner refinery and would ensure Chevron Richmond is an even more powerful economic engine for Richmond:

  • 1,000 local construction jobs
  • 1,383 additional jobs created locally
  • $223.8 million in additional economic activity in Richmond and West County
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