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FAIRGROUNDS’ ECONOMIC IMPACT OVER $171 MILLION |
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USF Study Shows Fairgrounds Has Greater Economic Impact Than Outback Bowl and Gasparilla Combined |
TAMPA, FL - October 2, 2006 - The Florida State Fair Authority (FSFA) may be best known for bringing fun to Tampa Bay through the annual State Fair, but its economic contribution to the Tampa Bay area is serious business. A recent study conducted by the Center for Economic Development Research at the University of South Florida (USF), shows the FSFA’s 2004-2005 economic contribution to the state of Florida was staggering: 1,267 jobs, $171.4 in sales and $43.4 million in wages and salary. Hillsborough County was the major beneficiary of the FSFA’s contributions with 1,023 jobs, $142.6 million in sales and $35.6 million in wages. Comparatively speaking, it has been reported that the Outback Bowl and Gasparilla Pirate Fest had a combined economic impact of a little over $50 million and the Tampa Bay Performing Arts Center, the largest performing arts center in the Southeast United States based on size and budget, has an annual economic impact of only $93 million. “The Fairgrounds is a great economic engine that provides a significant boost to the economy, as well as brings a wide variety of events and activities to the families of Hillsborough County and Tampa Bay,” said Chuck Pesano, executive director for the FSFA. “To put it in perspective, we generate nearly the same economic impact as a Super Bowl and that only comes along once every 10 years, if you’re lucky.” The report, which studied all FSFA fairground activities, including the Ford Amphitheatre, shows that the Fairgrounds attracts nearly half-a-million of out-of-town visitors to its events including 234,378 for the Fair and 157,593 for the Ford Amphitheatre. Additional FSFA’s economic contributions stem from its continuing operations and support for governmental activities, such as the use of its facilities for an Emergency Operation Center for hurricanes, and for police and fire training. The report concludes that because the FSFA is an ongoing organization, the substantial economic contributions to Hillsborough County, Tampa Bay and the state of Florida will continue year after year. The FSFA operates the Florida State Fairgrounds 365 days a year, in association with the Florida Department of Agriculture and Consumer Services, Charles H. Bronson, Commissioner. The 103rd annual Florida State Fair will take place February 8-19, 2007. - 30 - | | |
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