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EXECUTIVE SUMMARY SECTION I-EXECUTIVE SUMMARY Markin consulting was engaged by the Minnesota State Agricultural Society (the MSAS) to identify, analyze and quantify economic benefits to the Twin Cities metropolitan area from the operation of the Minnesota State Fair and Fairgrounds. The MSAS, responsible for the operation and maintenance of the Fairgrounds, both operates the annual 12-day Minnesota State Fair (the Fair) and .rents the Fairground's facilities for commercial, consumer,~agricultural and equestrian events and activities on a year-round basis. This section presents a summary of the estimated economic impacts of the MSAS as detailed in the remainder of this report. EXPENDITURES IMPACTS The operations of the MSAS including the annual Fair and non-Fair events and activities generate specific expenditure impacts, fuither explained in Section II. The estimated annual expenditure impacts are shown in Table 1. Table 1 . Minnesota State Agricultural Sceiety Summary of Estimated Annual Expenditure Imnacts Souce of lntitial Induced Total • Minnesota State Agricultural Society Operations Annual Fair Impacts Local concessionaire and rideJgame operators Non-local concessionaires, ride and game operators and commercial exhibitors Non-local competitive livestock exhibitors Annual Non-Fair Impacts Event promoters Non-local participants and exhibitors Local concessionaire All Activities 28.000.000 $45.OU0,600 573.000.0(10 515,2UU,ODU $16,80(),000 $32,OOU,0(H) 4,100,000 3,700.000 7,8o(l,U(H) 2,1(>n.ooo z.3(w.ooo , 4.4o0,orx1 521,4(10.000 $22,800,(100 44 2(Hl 000 $400,000 5300.000 57On,000 15,000,000 16.300,000 31,300,000 1 IOU 00 1,3(IU.U(lU 2.4(N).oOU 16 500 (10(1 $17,000,000 34 400 0(10 565.9U0,OOO $85,700,0(1(1 5151,61)0,000 Due to the variability of events and activities in any given year and the margin of error of survey responses, the annual impacts are estimated to range between $147 millivn and $157 millivn. MARKIN CONSULTING