SOURCE: AEGEA, Inc.

September 04, 2013 09:51 ET

Economic Impact Report Indicates AEGEA Could Create Approximately 75,000 Jobs

Evans, Carroll & Associates, Inc. Provides an Analysis of the Economic Impact of Constructing and Operating AEGEA

NORTH PALM BEACH, FL--(Marketwired - Sep 4, 2013) - AEGEA, Inc. (OTCQB: AEGA) ("AEGEA"), a planned mega-resort destination and international community in Florida, today released highlights from a report issued by Evans, Carroll & Associates, Inc. ("Evans Carroll"), an economic consulting firm specializing in EB-5 projects. The report provides an economic impact study and EB-5 analysis for the construction and operation of AEGEA.

Evans Carroll (formerly Evans Economics) has been providing economic forecasting and consulting to clients since 1981. In recent years, the firm has specialized in providing the underlying economic analysis for EB-5 programs, determining the number of total permanent new jobs that expected to be created by new projects funded by foreign investors in EB-5 projects. Evans Carroll uses the impact analysis for planning (IMPLAN) and regional industrial multiplier (RIMS II) input/output models to calculate the employment or output multipliers for each project. Evans Carroll is one of the leading firms offering this type of analysis.

Dr. Michael K. Evans, Chairman and Founder of Evans Carroll, also serves as the Chief Economist to the American Economics Group where he designed a comprehensive state modeling system that provides economic analysis for projects like AEGEA. He served as Assistant and Associate Professor of Economics at The Wharton School at the University of Pennsylvania, where he was one of the co-developers of the original Wharton Model. Dr. Evans has a Ph.D in Economics from Brown University and is currently a contributing editor of Industry Week.

Highlights from the report, which is based on a number of assumptions and covers construction and operations in the first phase of the project ("Phase I"), include:

  • With respect to employment, construction activity will create 49,030 new jobs, of which 28,763 jobs would be in the construction industry.

  • There will be an estimated 24,271 new jobs created by the operations of Phase I.

  • AEGEA, including its hospitality areas, theme parks and sports and education center cumulatively is projected to become a global destination for domestic and international tourism.

  • AEGEA is anticipated to eventually rival if not exceed the size and scope of the leading theme park resorts in Orlando, Florida.

  • EB-5 funds will be applied toward operations of Phase I, which is scheduled to open in 2017.

  • The entire project will be located in a Targeted Employment Area, which means each EB-5 immigrant can invest a minimum of $500,000.

  • The project will be developed in several phases over a 10-year period, by which the resort will have buildings, entertainment facilities and the sport and education center of 16 million square feet, and annual revenues of about $4.8 billion.

  • The revenue for AEGEA in its first year of operations is projected at $2.5 billion, representing 15% of the incremental growth in the theme park and resorts industry, a goal that is believed to be obtainable if the entertainment facilities are world-class. This projection also underestimates the growing demand from Latin America, a key number for this location. Additionally, while the leading theme park resort in Central Florida does not break out revenues for its individual theme parks, annual revenues are estimated to be in the $5-6 billion range. Hence AEGEA, while impressive in size and magnitude, is expected to be only about half the size of the leading theme park resort when Phase I opens in 2017.

"We are very pleased that a leading economic consulting firm has validated our expectations on the potential economic effect of AEGEA. Upon the successful funding and completion of our project, we expect to be a global destination for tourism and competitive with the major theme park resorts in Florida. We are particularly excited that almost 75,000 jobs could potentially be created, which would benefit Florida's economy," said Keith Duffy, Co-Founder, President, and CEO of AEGEA.

About AEGEA
AEGEA INC., is developing a spectacular experience for guests and an idyllic lifestyle for residents by blending world-class entertainment with culture and timeless architecture, introducing its Entertainment Living™ brand. AEGEA is committed to developing a sustainable and environmentally conscious community. AEGEA's mission is to pursue innovation, increase shareholder value, and strive to better the lives of its visitors and residents. AEGEA's plans include luxury hotels, residences, restaurants, cultural experiences, an Olympic-style sports complex, themed attractions, an equestrian village, vast blue water lagoons and waterways, and authentic, timeless architecture selected from around the world. While similar in some respects to other large-scale, multi-purpose destination properties, AEGEA's design will be unique in that the sprawling complex will include a mix of residences and hospitality, entertainment and culture inspired by an advanced civilization dating back 4,000 years. Located within the state of Florida, AEGEA enjoys the distinct advantage of a massive nearby resident and visitor population base from which to draw attendance and ownership.

Safe Harbor Forward-Looking Statements
In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Aegea, Inc., is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "intends," "plans," "believes" and "projects") may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. These statements include, but are not limited to, our expectations concerning our ability to finance, acquire and develop AEGEA's planned resort, our ability to attract investors who qualify under the EB-5 program and our expectations regarding our future revenues.

We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

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