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Study Estimates Boise Centre Contributes Millions to Local Economy

8/8/2012

STUDY ESTIMATES BOISE CENTRE CONTRIBUTES MILLIONS OF DOLLARS TO THE TREASURE VALLEY ECONOMY
by Svend Knutsen | Aug 08, 2012

FOR IMMEDIATE RELEASE
August 8, 2012

Contact:  Pat Rice 208-489-3650
Cliff Clinger 208-489-3680

 STUDY ESTIMATES BOISE CENTRE CONTRIBUTES MILLIONS OF DOLLARS TO THE TREASURE VALLEY ECONOMY
Research included conventions, local events, wages, salaries, operations
 and maintenance spending

BOISE, Idaho –Over $23 million dollars of direct spending flow into the local economy as a result of the operations of the Boise Centre and the events held there.  Another $27.5 million bolsters the area’s economic health as a result of additional sales. That’s the conclusion of research conducted by Dr. Don Holley and John Church from the College of Business and Economics at Boise State University. To measure the estimated economic impact Boise Centre has on the Treasure Valley the study looked at more than conventions. Local events, wages, salaries, operations and maintenance spending were all taken into account for a more comprehensive estimate of economic impact.

The study identifies two kinds of activities held at Boise Centre, “Conventions” and “Local Events”.  Conventions usually require overnight stays in hotels/motels, multiple meeting rooms and the provision of meals.  Local Events range from one day events of local businesses, schools, and non-profit organizations to multi-day events like the St. Alphonsus “Festival of Trees”.

Highlights of the study include the following:

■In 2011 Boise Centre hosted 29 conventions and 175 local events
■Conventions generally require multiple meeting rooms and provision of meals
■Total spending directly associated with conventions was $6,300,000 in 2011
■Local events range from one-day to several days in length
■Total spending associated with local events for 2011 was $12,400,000

“Regardless of whether attendees to Boise Centre events are from our local area or come from outside the region, they all require services of local businesses.  Money will be spent on restaurant meals, lodging, and general retail goods and services,” Dr. Don Holley of Boise State University noted. “To satisfy this demand, local goods and services must be produced and local employment and income will be generated as a direct result of those who attend events at the Boise Centre.”

In assessing the economic impact of the Boise Centre, the research team believed it was important to account for the Centre’s expenditures on wages and salaries and for its operation and maintenance.  The report showed $4.5 million of added value to the economy.

“The result of this study certainly supports how important Boise Centre is to contributing to the economic strength of our community,” said Hy Kloc, Chairman of the Greater Boise Auditorium District Board of Directors. “We’re proud of our success and that we’ve been able to join a strong and vibrant area now seeing other new and exciting projects emerge like the Simplot JUMP project, the Zions Bank Idaho headquarters building, and expansion at Boise State University.”

The study also pointed out additional secondary benefits Boise Centre provides to the Treasure Valley such as:

■Generates $27.5 million in increased sales of goods and services by local vendors.
■Sustains 314 local full-time jobs
■Generates $8.6 million in local labor income
■Generates $1,062,000 in state and local tax revenues

Click here to download the entire report done by Dr. Don Holley and John Church with  Boise State University. 

About Boise Centre

As the largest convention facility in Idaho, Boise Centre is a valuable economic catalyst for downtown Boise and lodging properties throughout the Greater Boise Auditorium District.  Opened in 1990, Centre is located in the heart of downtown Boise, Idaho within walking distance of approximately eight hundred hotel rooms, a variety of restaurants, retail shops and entertainment attractions.  As an operating entity of the Greater Boise Auditorium District, the 85,000 square foot Centre serves more than 145,000 guests and hosts over 230 events and conventions annually.  Visit www.BoiseCentre.com or call 208-336-8900 for more information.

For more information, please contact Pat Rice or Cliff Clinger or click here to visit boise centre's website.

HAVE QUESTIONS? ASK US.
Clark Krause
Executive Director
Mobile: 208-863-9675
Phone: 208-472-5230
ckrause@bvep.org
Charity Nelson
Director of Economic Development
Mobile: 208-863-8521
Phone: 208-472-5240
cnelson@bvep.org
Ethan Mansfield
Project & Research Manager
Mobile: 208-921-4686
Phone: 208-472-5246
emansfield@bvep.org
250 S. 5th St.
Suite 300
Boise, Idaho 83702
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