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Public CEO | August 19, 2014 | by Public CEO
Oil companies, both large and small, contribute over $291 million to Santa Barbara’s economy and employ several thousand workers along the Central Coast. According to an economic impact report commissioned by the Santa Maria Valley Chamber of Commerce, these jobs pay workers an average between $75,000 and $100,000 annually, which is significantly greater than the County’s median household income of $58,000. On top of this, Santa Barbara County collects over $16 million dollars in tax revenue from oil companies—with over 60% of that revenue allotted to local schools.
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