Laserfiche WebLink
$136 spent per person per day. Because these expenditures are primarily for tourist <br />services, we assume that 826 of expenditures will impact the local economy. The <br />remaining 18% will go to vendors who travel to the county for these events, and are <br />therefore not considered "local.' <br />Findings of the Impact Model <br />We applied the impact model only to the results of Scenarios 3 and 4, the "most likely" <br />feasibility models; both were based upon the same starting numbers of horses across <br />the years of analysis. As the impact model results are linear functions of the number of <br />horses and therefore visitors, impacts for the other feasibility runs can be easily <br />calculated. Table 9 shows the logic and results of the model. Let us use the Year Six <br />column to show the impact of the horse park in its maturity stage. Direct participant <br />expenditures of $7,334,838 are shown on line 1; these are comprised of the number of <br />horses, times the number of participants per horse, times the spending at $138 per day. <br />Line 'I is next margined at 95% to reflect the fact that 95% of participants are from <br />outside the county. expenditures by in -county participants are netted out as it is <br />assumed that this money would be spent in the county even without the horse park.) <br />This margining yields the $6,9.68,096 in line 2, spending by participants oq the local <br />market Line 3 gives the $347,540 of expenditures made by the horse park <br />administration; if Is calculated by multiplying horse park expenses by 48% to account <br />for expenses that flow into the local economy; the remaining 52% will be spent outside <br />the local area. The sum of these two categories of local expenses (local spending by <br />participants, shown in line 2 plus spending on horse park operations, shown on line 3) <br />appears as $7,315,636 in line 4 as local total direct expenditures. These, In tum are <br />multiplied by the local (county) multiplier of 1.15 to yield local total impacts, shown in <br />line 5. This number, $8,412,982 represents the total money flows, including indirect <br />and induced effects in the local economy that are attributable to the home park. Using <br />the employment multiplier of 17 jobs per million dollars of direct expenditures gives us <br />41 <br />