|
Event Visitor Traffic and Economic Contribution
<br />. ;
<br />2022
<br />Projected lncrememal
<br />Event Metrics 2014 2015 2016 2017 1'lth Economic Benefit
<br />Coveted of Covered Arena
<br />1 ... 1 .... 1 .... : ... i .. Arena l .... .....
<br />Total nmnber of different events 39 38 39 45 65 20
<br />No. V1Sitors 17,246 24,827 30,163 29.519 52,047 22,528
<br />Vmton. resiliog ottsi:le Kittitas 93% 88% 95% 96% 70% NIA Couotv
<br />Day V1ttors--non-Iocal 5,201 6,877 7,277 5.474 13,407 7,933
<br />Total visitors ovanigbbl--non-Jocal 10,294 13,351 22,467 22,864 41.S49 18,685
<br />Visitors ovemigbt--not in paid 1,544 2,003 3,370 3,430 6,222 2,792 lodmruz
<br />Visitors ovemigbt--in paid hdgiog 8,750 11,348 19,097 19,434 35,327 15,893
<br />No. LodmmrRooms Booked S,833 7,566 12,731 12,956 23.552 10S95
<br />Overall Economic Impact ofvism $1,189,986 $1,543,376 $2,597,185 $2,643,078 $4,804,526 $2,161,448
<br />Number ofJobs Created 19 25 42 42 77 35
<br />Hotel/Motel Spending $464,095 $601,916 $1 012,902 $1,030,801 $1,873,765 $842,965
<br />Lodl!in~ Tax Re-.enues t'@.4% $18,564 $24077 $40,516 $41.232 $74 951 $33.719
<br />Recreational tomi.sm is a significant economic opportunity for this area, and clearly the Horse Park can
<br />be the engine.
<br />9. Describe any feasibility or predevelopment studies that demonstrate the linkage between the
<br />proposed Distressed County Infrastructure improvemena and the antl.dpated economic
<br />outcom.et.
<br />l:.
<br />The most recent study is the November 2006 "Financial Feasibility and Economic Impact of the
<br />Washington State Horse Park" (FFEI-WSHP), written by Timothy Dittmer, Ph.D. and Richard Mack,
<br />Ph.D. professors in the Economics Department at Central Washington University in Ellensburg, WA. The
<br />study is included in this application in its entirety, as required. "The primary objectives of this study were
<br />to determine the financial feastbility and potential economic impact of the Washington State Horse Park
<br />(WSHP) in its proposed location in Kittitas County ... "(p.3) Using information from 17 other facilities
<br />across the country, the authors "developed a relatively sophisticated financial model to determine
<br />economic :feasibility. "(p.48)
<br />The Study supports the expectations oflegislators (noted in Item 2) confirms the positive findings of
<br />previous studies and updates the economic benefits. Summarizing from page 51 of the study: Using the
<br />'most likely' scenario at year six ( considered matwity in operations assuming steady build-out to Master
<br />Plan completion), the following impacts are projected:
<br />Washington State Horse Park Dislre88ed County Sales and Use Tax Grant Application pgll/25
|