Agenda - Parks and Recreation Commission - 02/08/1996

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ECONOMIC IMPACT BY MINNESOTA SPORTS FEDERATION - MINNESOTA AMATEUR SPORTS CENTER AND HALL OF FAME HOSTING YOUTH AND ADULT BASKETBALL/VOLLEYBALL SPORTS TOURNAMENTS ON SlT;.~ Type of Tournament # of Teams # of Players Total Participan 40 State 2 day Basketball/ Volleyball Tournaments with an 1280 12 per team 15,360 average of 32 teams per tournament With an average of 14 fans per team these 1280 teams will draw 17,920 spectators. 80% of the teams are from out of town. These out of town spectators and participants total 26,624. Multiply this by $65.00 per person expenditure per day = $1,730,560.00 per day. Multiply this by 1.5 '~ =. $2,595,840, direct economic impact of 40 MSF tournaments in your community. The direct economic impact is very significant and if we add the indirect and induced effect considering the mv.ltiplier effect .of.1.7 dollar 1;urn0ver, the local economy would benefit by ~4,412,928.00 from MSF 1;ourn~ments in your community. While this is very significant contribution to the local economy we have not measured the econon- benefit of tournament officials, in town teams and their fans. This could greatly increase the real impact dollars of MSF/ASA/NYBA tournaments in your community. AVERAGE PER DAY EXPENDITURE PER TEAM OF 12 PLAYERS AND 14 SPECTATORS FOR OUT OF TOWN TEAM ONLY (For 26 People) (For 1 Person Only) 21% Gas/Transportation Costs 9354.90 $13.65 33% Lodging 9557.70 921.45 25% Restaurants $422.50 91 6.25 5% Entertainment ,~ 84.50 $ 3.25 6% Other Food/Snacks/Pop, etc. 9101.40 ,~ 3.90 10% Souvenirs/Gifts t~169.00 $ 6.50 100% $1,690.00 ~65.00 All tournaments are for a minimum of two days, but many players do not stay for two nights so we only used 50% of 2 day costs for the purpose of this economic impact study. Based on 1988 data from Grand Island, NE, and to be conservative, we have not adjusted for 1989-95 inflation.