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2005_0620_Packet
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2005_0620_Packet
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Roseville City Council
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Oval Task Force Final Report <br />5. Economic Impact Assessment (continued): <br />From model used by Minnesota Amateur Sports Commission for economic impact: <br />The John Rose OVAL attracts 100,000 visitors each year. The following economic <br />impact figures were computed on OVAL attendance only. <br />ATTENDANCE: <br />. Annual attendance estimates are courtesy of Roseville Parks and Recreation Department. <br />. Attendance by Roseville residents: 40,000 Attendance by local customers, but non-Roseville residents: 58,000 <br />Attendance by non-Roseville residents requiring lodging: 2,000 Total attendance: 100,000 <br />PER-DAY SPENDING: <br />F Per-day spending estimated by the Minnesota Amateur Sports Commission, consistent with other amateur <br />sports events in the Twin Cities. <br />� Per-day spending is spending directly related to the customers' attendance at an event at the OVAL and is an <br />estimate of dollars spent within the city of Roseville only. <br />t Roseville is in an excellent position to capture a high percentage of visitors' spending, due to the excellent <br />selection of shopping, restaurants, and movies. This increases the value of facilities like the OVAL, and <br />multiplies the economic benefits within the community. <br />� Some other communities that lack the extensive hospitality network lose a portion of visitors' spending, because <br />the visitor �nust leave the city to access desired services. An example of this is the City of Blaine, which until <br />recently, lost i�uc3� of #he benefit of the Schwan's USA CUP soccer tournament to surrounding cities because <br />Blaine did not have a sufficient number of hotels, shopping, food service and other amenities to service the <br />visitors. Happily, Roseville is in a much stronger position to capture a significant share of visitors' spending. <br />� Estimated per-day spending in Roseville by: <br />. Local customers: Average of $15 per day, per person. <br />■ Non-local customers requiring lodging: $80 per day, per person. <br />DIRECT SPENDING: <br />• Total direct spending in the City of Roseville: $1,630,000 Direct spending in the City of Roseville, by non- <br />residents: $1,030,000 <br />ECONOMIC IMPACT: <br />. Economic impact is generated by multiplying direct spending by a multiplier of 1.6. The application of the <br />multiplier quantifies the recycling of money within a community. A►nultiglier of 1.6 is considered to be <br />extremely conservative within the industry. <br />. Total economic impact: $2,608,000 <br />. Total economic impact produced by non-residents: $1,648,000 <br />CONCLUSIONS: <br />I) The OVAL is clearly a positive economic engine within the city. The benefit comes in two ways: generating new <br />money from non-residents, and keeping residents' spending within the city. <br />2) It can be assumed that the $1.648 million of economic impact Produced by non-Roseville residents is spending that <br />would not occur within the city if the OVAL were not in existence. <br />3) Some of the spending by Roseville residents is spending that might flee the city and occur in surrounding cities, were <br />not the OVAL in existence. The existences of facilities like the OVAL are effective in helping to capture residents' <br />discretionary spending and keeping it within the city. <br />Oval Task Force Final Report Page 27 cf 29 <br />
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