Albany Capital Center Shows Positive Economic Impact On The Community
THE ALBANY CAPITAL CENTER SHOWS POSITIVE ECONOMIC IMPACT ON THE COMMUNITY, GENERATING MORE THAN $13.5M IN TOTAL SPENDING SINCE ITS OPENING
ALBANY, N.Y. – The Albany Convention Center Authority at its regularly scheduled quarterly Board meeting Wednesday, August 8, 2018, held at the Albany Capital Center, received economic impact updates from Discover Albany. The report highlighted total economic impacts generated by the Albany Capital Center from March 1, 2017 through June 30, 2018 of more than $13.5 million in visitor spending, with 113,845 visitors attending, 10,664 hotel rooms booked, and 6,314 full time equivalent jobs supported. The direct impact upon sales tax during the same period has been an increase to New York state of $831,653.00 and an increase to Albany County of $766,297.00.
“What this data shows is the Albany Capital Center is positively attributing to the vitality of the area,” said Albany Convention Center Authority Board Chair Megan Daly. “The convention center is drawing more people from the outside area too, which has always been the mission since day one. We’re pleased to see the continued push to invest in the center to attract new convention and meeting business. It’s good for the city, county and the state.”
Of the 250 events held at the facility from its opening through the end of June, the biggest revenue generators are conventions, bringing in just over $5 million in visitor spending. Sporting events follow at more than $3.5 million with the balance of the $13.5 million in visitor spending coming from meetings, public events, social events and trade shows.
“The Albany Capital Center is playing a vital role in the local economy. This versatile facility has drawn new business to the county, and that’s good for everyone, from hoteliers to local business owners,” said Jill Delaney, president and CEO of Discover Albany.
Economic impact information is generated by Discover Albany from the actual event data utilizing the Destinations International Event Impact Calculator. The result is a thoroughly independent report of the economic impacts generated by the Albany Capital Center.
The Albany Convention Center Authority receives these reports and other valuable assistance including that with destination marketing, and lead generation through a memorandum of understanding it entered with Discover Albany in April of 2010. In November of 2017, The Albany Convention Center Authority Board established the Economic Impact Committee to report on the economic impacts related to the Albany Capital Center and support the proactive approach it has taken in promoting Albany as a destination and for the greater economic good of the Capital Region.