A new analysis of the fiscal and economic impacts generated by the venues under Metro’s management – the Oregon Convention Center, Portland Expo Center, Portland Center for the Performing Arts and Oregon Zoo – was released yesterday revealing good news for the Portland metropolitan region’s economy.
In aggregate, throughout the agency’s 2010 fiscal year (FY), nearly 3.4 million people visited the four venues, catalyzing $680 million in direct and induced spending throughout the region. Spending for the purposes of this analysis includes services and goods purchased at the venue and also as a result of each visit, such as dining in area restaurants, lodging in hotels, purchasing gasoline or public transit, and shopping at local retailers. Indirect spending, such as the purchase of products and services by vendors, exhibitors, suppliers and contractors as a result of the venue’s operations, is also included.
The number of full and part-time jobs created and sustained by Metro’s venue business totaled 6,680 during the same time period, translating into personal earnings of $256 million.
A new feature of the 2010 report, conducted by Florida-based Crossroads Consulting Services, is the inclusion of the Oregon Zoo, which generated $64 million in regional spending, supported 700 jobs representing personal earnings of $27 million, and produced nearly $2 million in state and local tax revenue.
In addition, an interesting trend emerged in the analysis of the Oregon Convention Center: Despite hosting fewer events overall, the facility hosted a greater percentage of national conventions to local events, generating significantly higher rates of spending in local businesses. Compared to FY 2009, in which the center generated $440 million in regional spending, spending increased to $526 million in FY 2010, an amount greater than the combined total spending generated by convention and expo centers and Portland Center for the Performing Arts in the previous year.
Individual venue economic impact reports and an executive summary may be found at: http://www.oregonmetro.gov/index.cfm/go/by.web/id=32999
Metro, the regional government, crosses city limits and county lines to build a resilient economy, keep nature close by and respond to a changing climate. Representing a diverse population of 1.5 million people in 25 cities and three counties, Metro's directly elected council gives voters a voice in decisions about how the region grows and communities prosper. For more information, visit www.oregonmetro.gov.
Contact: Stephanie Soden, Metro Visitor Venues, 503-797-1818 or 971-227-1195 Stephanie.Soden@oregonmetro.gov
