An emerging redevelopment of the shuttered SmokeTree Resort in Paradise Valley, a 5-acre site near Lincoln and Scottsdale roads, would bring an additional $43 million a year into the local economy, according to a recent economic study.

According to the study titled “SmokeTree Resort Redevelopment Economic & Fiscal Impact Report Paradise Valley, Arizona,” prepared by Elliott D. Pollack & Co. for Walton Development & Management, the additional tax revenues generated will help ensure Paradise Valley continues to deliver its residents an outstanding quality of life without residential property taxes.

The study finds Paradise Valley would initially collect an estimated $1.2 million in one-time construction related tax revenues.