• Proven Fact: AC Events Significantly Impact Economy

     
    POSTED December 21, 2015
     

Not just this year, but many years running, Atlantic City has been host to a plethora of events—from the New Jersey Education Association Convention to the Challenge Atlantic City Triathlon. With such a wide variety of events, it’s not a shocker to think they have significantly boosted the economy.

And this has been confirmed by Spectra by Comcast Spectacor—an organization that provides venue management and food services and hospitality to Boardwalk Hall and the Atlantic City Convention Center. They released figures that show the economic benefits have been huge for New Jersey taxpayers. The sales incomes and state and luxury takes these event attendees have generated has positively affected revenues over the past three years.

“It’s revealing to consider the positive economic impact that the events at the Atlantic City Convention Center and Historic Boardwalk Hall continue to bring to Atlantic County and to the State of New Jersey,” says Spectra’s Fran Rodowicz, general manager of both venues. “These facilities bring hundreds of thousands of people to Atlantic City on a consistent basis and they are critical to the success of the beach resort.”

Combined, both facilities have generated nearly $235 million from Jan. 1, 2013 through October 2015 in direct sales income and state and luxury taxes. This number includes an estimated attendance of 1,836,536 people over the three-year period.

Using the industry average of $125 assumed in-market spending per attendee, the two facilities have generated $74,590,250 in direct market sales income; the Atlantic City Convention Center has generated $1,363,485 in state and luxury taxes while Boardwalk Hall has generated $4,027,899 in state and luxury taxes.

This news is supported by direct customer feedback. After every event at Boardwalk Hall, attendees who purchased a ticket are asked to complete a survey regarding their experience. Of those that answered, 67.6 percent ate at an Atlantic City restaurant; 44.7 percent gambled at a casino; and 65.7 percent spent $100 or more at local businesses.

“Events at the Atlantic City Convention Center and Boardwalk Hall are proven to bring business to hotels, restaurants and other entertainment venues throughout the city,” says Robert E. Mulcahy III, board chairman, CRDA. “They are an integral part of CRDA's mission to attract visitors by bringing non-gaming events to the Atlantic City Tourism District.”

Aventri, a leader in events management software (EMS), recently released ‘The Top 100 Meeting and Event Venues in the United States’ for 2019. The company took the ten top-rated meeting and event cities in the United States and picked the top ten venues in each area, compiling a list of 100 highly-regarded spaces. 

The guide identifies the two most valuable factors in attendee satisfaction as venue location and activities in the host city, followed by capacity, uniqueness and proximity to local attractions.

 

Since its $384.1 million river improvement project in 2013, San Antonio has revitalized 13 miles of the San Antonio River by reintroducing native vegetation to improve the area's natural ecosystem.

 

Development plans also call for a resort, golf courses and a convention center.