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Today's Poll!City looks at economic impact of Thursday Night Live
Monday, July 30, 2012
Jefferson City is trying to get an estimate on the economic impact of events like Thursday Night Live on downtown businesses.
Phil Stiles, recreation facilities and special services division director with the Parks, Recreation and Forestry Department, told members of the Parks and Recreation Commission earlier this month that he was working with the Jefferson City Area Chamber of Commerce and the Jefferson City Convention and Visitors Bureau to find the economic impact of Thursday Night Live and other downtown events.
“We just thought it would be a good thing to let the community know what sort of economic impact an event like Thursday Night Live has on the city,” Stiles said.
Stile said he estimates an average person spends about $30 at that type of event. He said when you multiply that by the 3,00 to 4,000 people in attendance each week for four weeks, the result is a large bump to the local economy.
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Comments
rodinman 9 months, 3 weeks ago
While sales may have increased in the immediate vicinity of the Thursday Night Live events, what was the impact in other areas of the town? Did their sales remain constant, increase, or decrease? One would have to look at the total volume of sales across town, by night, and even compare weeks with events to weeks without events.
him 9 months, 3 weeks ago
Why?
tonto_goldberg 9 months, 3 weeks ago
The Department of Revenue would have that information.
tonto_goldberg 9 months, 3 weeks ago
They will have data on sales tax revenue.
rodinman 9 months, 3 weeks ago
Let's say the Thursday Night event impacted sales in the immediate vicinity by $10,000 per event. If sales decreased by that same amount, or close to it, throughtout the rest of the town then the economic impact is zero. Again let's use an ecomomic impact of $10,000 per event. Total revenue in town that week was $200,000 and total revenue during a non event week was $200,000 then again the ecomomic impact is zero. The only positive impact is for those with increased sales and that is offset by those with decreased sales. Nothing against the events but the economic impact must be closely analyzed. The events were well attended and highly enjoyed by most, myself included.
JCLifer 9 months, 3 weeks ago
How much did it cost?
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