This page uses extracted PDF text. Text can misread numbers, dates or table columns. Check the PDF before quoting or interpreting it. Redacted areas remain redacted.
The Honorable City Council
Page 4
NOODLE ӏ The Thinkers Convention: Economic and Fiscal
Impact, Event Expenditures, and Planned Public Release
Note: Variance is actual minus budgeted. Figures in parentheses are under
budget; figures without parentheses are over budget.
Fiscal Context
Council should be aware that, measured strictly against year-one dollars, the
convention cost more than the economic impact it produced within the city.
The city’s $3.0 million contribution, and the producer’s total spend of
approximately $3.19 million, compare with a measured local economic impact
of approximately $1.08 million and local tax revenue of approximately $62,000.
This gap is real, and it should be stated plainly rather than minimized. However,
it also reflects the characteristics of an inaugural event, for three reasons. First,
first-year events carry one-time build and start-up costs that may not recur at
the same scale; the dome, staging, seating, and site build alone accounted for
roughly $969,000 this year. Second, the impact study by design excludes the
brand, media, and positioning value that motivated the investment. Third,
patron response indicates unusually strong potential for repeat attendance
and growth, as detailed below.Jump to an indexed page (6 of 6)