Laserfiche WebLink
the Horse_Park Authority must recruit a facility manager from the upper 90 percentile of <br />managers and support that manager with top-notch review and assistance by <br />professional equestrian management professionals. Without an entrepreneurial <br />manager, it is unlikely that the. facility will generate the alternative revenue built into the <br />model.. Finally, the facility will require subsidization from either private foundations or <br />public coffers of approximately $80,000 per year. <br />ECONOMIC IMPACT S <br />One means by which other facilities justify operating grants is through their impacts <br />upon local and regional economies. Therefore, an impact model based upon <br />expenditures of the horse park participants and expenditures for horse park operations <br />was developed to estimate financial flows to both the local and state economies and to <br />local and state finances. Using the "most likely" Scenario 3 at year six maturity, the <br />following impacts a~e projected: <br />• The direct spending by exhibitors and spectators are estimated to be $7,334,838 <br />when the· facility reaehes maturity In the sixth year of operations. <br />• The total money flows attributable to the horse park in the sixth year, inel1:Jding <br />Indirect and induced effects, are $8,412,982 annually. <br />• Using the employment multiplier of 17 jobs per million dollars of direct <br />expenditures projects, 143 jobs will be created by the horse park after the direct. <br />indirect and induced effects are fa.ctored In. <br />• Starting at the sixth year, annual state impacts from out of state residents were <br />found to be $5, 164,360 of direct, indirect and induced spending. <br />6