An economic impact report provides data showing how a venue’s programming and events impact its local economy. This report is typically selected by clients considering travel sports/sports tourism projects, mixed-use real estate developments, or regional event centers. Taking into account the venue type and size and specific details about the community, Sports Facilities Advisory uses a proprietary analytical process to translate projections from a Pro Forma to determine the impact of three items:
We measure economic impact based on spending by non-local visitors (event attendees traveling 60 minutes and over) because their primary reason for being in the market is an event or program held at the facility. Direct spending projections can also be translated into tax revenue generation projections. It’s our process, experience with the top facilities throughout the United States, and our mission to enhance the physical and economic wellbeing of communities everywhere that separates SFA from other firms in our industry.
With data from thousands of communities throughout the United States, SFA sets the industry standard for measuring economic impact. While many economic impact analyses result in overstated projections that actually detract from the message, SFA’s process is detailed, conservative, and proven, resulting in projections that have consistently met or exceeded comparisons of original projections versus operational performance after development.