IBJNews

Study finds $124M in visitor spending at fairgrounds

Back to TopCommentsE-mailPrintBookmark and Share

The Indiana State Fairgrounds generated $124 million in visitor spending in 2011 and has an annual impact on the local economy similar to a factory employing 500 people, according to a study released Wednesday.

“There’s really nothing in Indiana that’s quite comparable to the state fairgrounds,” said study author Bruce Jaffee, Indiana University professor of business economics, in a prepared statement. “Its impact is different from something like the Super Bowl or a Final Four because it’s not a one-time occurrence.  It’s an economic engine generating spending, revenue and tax receipts year after year.”

In his study, Jaffee likened the fairgrounds to a manufacturing plant with 500 to 600 employees and per-employee revenue of $300,000 per year.

The latest study follows one in 2011 that found the Pepsi Coliseum at the fairgrounds generated $89.3 million in spending, with $73.3 million of that coming from out-of-town visitors. The 73-year-old coliseum accounts for 40 percent of the fairgrounds’ year-round operating revenue.

The Indiana State Fair Commission recently approved a plan to expand the coliseum’s seating from 8,000 to 9,000 by 2014. The renovation is slated to start this fall.

Now the commission is looking to draw attention to the fairgrounds for its year-round events.

“People know all about our wonderful fair, but hundreds of other year-round events draw millions of people to Indianapolis, and that results in an important economic boost to our area businesses and tax revenue,” Indiana State Fair Commission Chairman Andre Lacy said  in a prepared statement.

Jaffee took a conservative approach with the study by separating spending by visitor and local residents. The $124 million was spent by out-of-county visitors. Marion County residents spent another $34.4 million at the fairgrounds last year, he found. That money was likely to have been spent in Indianapolis anyway.

Jaffee did not calculate indirect spending by people who make money from the fairgrounds but said that could double the total impact.

The 17-day Indiana State Fair accounted for nearly 21 percent, or $26.2 million, of the fairgrounds-generated spending. That was up almost $7 million from 2001, the last time a study was conducted.

Fair attendees also generated more “balanced” spending, both inside and outside the fairgrounds, Jaffee noted. About three-quarters of the $124 million in visitor spending takes place inside the fairgrounds, the study said.

ADVERTISEMENT

  • Must be a lot of swap meets down there
    Nuff said...
  • Shrffling Dollars
    Here is my thinking. Tourism is just shuffling dollars around and not creating much value. Yes, we love the fair and for that the sports in Indianapolis. But, this is not the same as good manufacturing or production jobs. These reports are self serving and the multipliers are always at the high end of reality.
  • No Accountability
    They forgot to subtract the $11 million expense for killing and injuring some of their guests.

    And don't forget the countless additional millions being spent on lawyers and meaningless engineering/procedural studies trying to shift blame onto the victims and others.

    Coming up on one year anniversary with no changes in State Fair leadership.
  • Hope they didn't spend much for this study
    Wow, another inflated economic impact study telling us how important they are.

    Just waiting for them to start asking for money.

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. Uh, sorry Johnnie, but you are incorrect. Despite the assertions by yourself and various defenders and captains, sports attendance is NOT off significantly at most sporting events in the US. Variances in attendance has been in the range of single digits, both + & - for years now. MLB has had most of its best overall attendance nubers in the last decade, and that trend has been consistent for most major sporting events. The number one issue cited by most fans when asked about attendance is the overall cost of attending. The presence of HD and big screen televisions in home doesn't even register, as a factor for not attending an event. VALUE in the product is the key, and apparently is something lacking in the current ICS. What other explanation is there when with what is routinely touted as the "best" racing on the planet, fans are staying away in DROVES. A "close" title battle into the last event at Fontana, with the "cars and stars" of the ICS, and who showed up? MAYBE 8K. Sorry, but HD TV isn't to blame for that kind of fan apathy.

  2. Do you need finance to establish your business ? Are you interested in getting a loan at 3% from our private company? If so please Email: suntrust_oil@blumail.org

  3. If she was worth the $ the public outcry over direct tv dropping them would have kept them on their dishes as we have seen with other companies. I too quit watching channel 13 after she showed up since I left channel 8 because of her all show rather than production results. When Randy on 8 corrected her she had a big head and incorrectly challenged his correction for pronunciation of a city. Other antics while she matures was too much for me with her very inaccurate forecasts. All the forecasters were predicting rain until Thursday except Chris. They predicted sunny on Thursday but instead of rain until Thursday upon which the sun would finally make it out in full glory Chris was right on the money just as I too predicted looking at the radar on weather.gov. One thing I love about Angela is the fear you can see in her every time it thunders in the winter. It far exceeds the entertainment value of her body language (high heel noise drags, depression, etc) when her forecasts are so incorrect. Her hair stands on end, you have to see it!!!

  4. Good Day, Apply For A Loan I am Mr Fernadez Antonio, a private Loan lender and a cooperate financial for real estate and any kinds of business financing. I also offer Loans to individuals, Firms and cooperate bodies at 3% interest rate We offer any kind of loans. email us via fernadezloaninvest@outlook.com LOAN APPLICATION FORM First name:......................... Middle name:......................... Last name:........................................ Date of birth (yyyy-mm-dd):....................... Gender:........................................... Marital status:................................... Total Amount Needed............................... Loan Duration.................................... Address:.......................................... City:............................................. State/province:................................... Zip/postal code:.................................. Country:.......................................... Phone:............................................ Fax:.............................................. Mobile/cellular:.................................. Monthly Income.................................... Occupation:....................................... Best Regard, Mr Fernadez Antonio.

  5. i will love to share my testimony to you all the people in world i got married to my husband about 2 year ago we start having problems at home like we stop sleeping on the same bed,fighting about little things he always comes home late at night,drinking too much and sleeping with other women out side i have never love any man in my life except him. he is the father of my child and i don't want to loose him because we have worked so hard together to become what we are and have today .few month ago he now decided to live me and the kid,being a single mother can be hard sometimes and so i have nobody to turn to and i was heart broken.i called my mom and explain every thing to her,my mother told me about DR.okoro how he helped her solve the problem between her and my dad i was surprise about it because they have been without each other for three and a half years and it was like a miracle how they came back to each other. i was directed to DR. okoro on his email:okorospell@gmail.com and explain everything to him,so he promise me not to worry that he will cast a spell and make things come back to how we where so much in love again and that it was another female spirit that was controlling my husband he told me that my problem will be solved within two days if i believe i said OK So he cast a spell for me and after two days my love came back asking me to forgive him i Am so happy now. so that why i decided to share my experience with every body that have such problem contact Dr okoro the great spell caster on his email addresses spellcasterforlove@outlook.com

ADVERTISEMENT