Pueblog USa
Monday, October 08, 2007
Economic Impact of the Pueblo Convention Center
How much tourist money goes towards high paying jobs and how much actually stays in Pueblo.
Economic Impact of the Pueblo Convention Center
• The data used for the following analysis of the Economic Impact of the Pueblo Convention Center was taken from the “out –of-town tender” flyer distributed by the Greater Pueblo Chamber.
• Average total spending by conventioneer per day is $170 per person
• Average hotel spending by conventioneer per day is $70 per person, 41% of total
• Average retail, restaurant and other spending per day is $100 per person, 59% of total
• Economic impact of the Pueblo Convention Center to Pueblo is $3,432,982 per year
• Revenue from hotel rooms: $3,432,982X.41=$1,407,523
• Revenue from miscellaneous : $3,432,982X.59=$2,025,459
• City revenue from hotel tax: $1,407,523X.078=$109,787
• City revenue from sales tax on miscellaneous: $2,025,459X.035=$70,891
• Total City revenue produced by Pueblo Convention Center: $109,787+$70,891=$180,678
• The annual cost of the Convention Center(operating cost and mortgage) is approximately $1,200,000