|
Feasibility Study of a Potential New Youth and Amateur Sports Complex in Mounds View, Minnesota ●Page 61
<br />COST /BENEFIT ANALYSIS6
<br />Economic Impacts
<br />The exhibit below presents a summary of the annual,and 20-year cumulative total of projected economic impacts generated in
<br />Mounds View by the potential new Youth and Amateur Sports Complex.The economic impact estimates additionally assume :
<br />•Construction impacts occur during the construction period,prior to the first year of operation—these impacts are shown under
<br />the 20-year cumulative estimates.•In-facility impacts are driven by the gross spending occurring at the sports facility itself and represent a percentage of gross
<br />operating revenues that are estimated to be net new to Mounds View.•Out-of-facility impacts are generated across a variety of industries within Mounds View by athletes,families and sponsoring
<br />organizations that do not reside in Mounds View.Out-of-facility spending by residents who reside in Mounds View is not
<br />considered within this analysis,as such spending is assumed to represent displaced spending that would have otherwise
<br />occurred locally.Reductions have been made to account for certain spending (i.e.,hotel)that is assumed to leak to areas
<br />outside of Mounds View.
<br />Opening Stabilized 20-Year
<br />ECONOMIC IMPACT Year 1 Year 2 Year 3 Year 4 Cumulative
<br />A) Construction Impacts
<br />Net New Hotel Room Nights 0 0 0 0 0
<br />Total Attendee Days 0 0 0 0 0
<br />Net New Non Local Visitor Days 0 0 0 0 0
<br />Direct Spending $0 $0 $0 $0 $4,972,500
<br />Indirect/Induced Spending $0 $0 $0 $0 $3,414,209
<br />Economic Output $0 $0 $0 $0 $8,386,709
<br />Personal Income $0 $0 $0 $0 $2,824,243
<br />Employment (full & part-time jobs)0 0 0 0 60
<br />B) In-Facility Impacts
<br />Net New Hotel Room Nights 0 0 0 0 0
<br />Total Attendee Days 0 0 0 0 0
<br />Net New Non Local Visitor Days 0 0 0 0 0
<br />Direct Spending $165,060 $197,400 $238,020 $264,780 $6,381,780
<br />Indirect/Induced Spending $113,572 $135,880 $163,824 $182,254 $4,392,605
<br />Economic Output $278,632 $333,280 $401,844 $447,034 $10,774,385
<br />Personal Income $117,001 $139,577 $168,402 $187,259 $4,514,158
<br />Employment (full & part-time jobs)4 5 5 6 147
<br />C) Out-of-Facility Impacts
<br />Net New Hotel Room Nights 1,040 1,284 1,467 1,589 30,797
<br />Total Attendee Days 59,170 72,234 83,125 90,322 1,749,996
<br />Net New Non Local Visitor Days 25,411 31,393 35,870 38,832 752,824
<br />Direct Spending $1,674,093 $2,130,297 $2,507,100 $2,795,577 $67,147,691
<br />Indirect/Induced Spending $1,148,028 $1,460,875 $1,719,272 $1,917,098 $46,047,278
<br />Economic Output $2,822,122 $3,591,172 $4,226,372 $4,712,676 $113,194,970
<br />Personal Income $1,160,142 $1,476,289 $1,737,412 $1,937,326 $46,533,143
<br />Employment (full & part-time jobs)37 48 56 63 1,503
<br />TOTAL NET NEW IMPACTS
<br />Net New Hotel Room Nights 1,040 1,284 1,467 1,589 30,797
<br />Total Attendee Days 59,170 72,234 83,125 90,322 1,749,996
<br />Net New Non Local Visitor Days 25,411 31,393 35,870 38,832 752,824
<br />Direct Spending $1,839,153 $2,327,697 $2,745,120 $3,060,357 $78,501,971
<br />Indirect/Induced Spending $1,261,600 $1,596,755 $1,883,096 $2,099,353 $53,854,092
<br />Economic Output $3,100,754 $3,924,452 $4,628,215 $5,159,710 $132,356,063
<br />Personal Income $1,277,142 $1,615,866 $1,905,815 $2,124,586 $53,871,544
<br />Employment (full & part-time jobs)41 52 62 69 1,709
|