The Economic Impact of Aquatics
One of the benefits envisioned for the community is vast direct and indirect economic impact. As part of our overall study the Issac Sports Group met with and interviewed representatives from aquatic sports governing bodies and dozens of independent clubs about their interest in a viable competition and training venue in the area.
The returns were fantastic – better than we possibly imagined at the time of the idea’s inception. The Study shows a direct spend economic impact of $7.4 million and a total economic impact of $11.9 million to the community by year three of the facility’s life. This includes event revenue direct to the facility of $508,000, which is in large part why the facility is operationally feasible. It is a winning situation for St. Charles and the surrounding area- outside revenues providing local opportunity for recreation and health, and providing new economic stimulus to the city.
Here are the study summaries:
And the selected location guarantees the impact stays local.
The idea is well supported by the real life experiences of other towns. Here’s a link to the economic impact study from 2005 about a similar facility in Federal Way, Washington detailing the $7.5 million per year impact on the state economy and the $4.3 million dollar impact on the local economy. http://www.seattlesports.org/uploads/EIS.pdf
Here’s a link detailing the $2.2 million dollar impact a single week of competition had in the same facility in 2012.
In Greensboro, North Carolina the Convention and Visitors Bureau did a similar study on the recently constructed Greensboro Aquatic Center. Their numbers showed a $49.7 million dollar economic impact from the facility between its opening in 2011 and 2014.
A facility in St. Charles would bring multiple state and national level events. Currently there is no competition in the Chicago area or the State of Illinois. Several state championships for the YMCA, club swimming, masters swimming and water polo have been conducted in Indiana and Wisconsin due to the lack of facilities in the State of Illinois.