GREENVILLE, S.C. – Results from a report completed for the Greenville Arena District estimates that events held at BI-LO Center generate $56.6 million dollars in annual economic impact for the local economy.
C.H. Johnson Consulting, a leading consultant to the convention, arena and real estate industry, conducted an independent economic and financial impact analysis of BI-LO Center for fiscal year 2010-2011 with the objective of estimating economic contributions from the arena on the area economy.
The research and resulting report measured BI-LO Center’s direct, indirect and induced impacts along with the employment impact on the local economy from the 410,392 people who came to the 104 events for the fiscal year.
Among the key findings:
- BI-LO Center events in FY 2010-2011 were estimated to create approximately 33,000 hotel room nights.
- The events held at BI-LO Center during FY 2011 are estimated to have generated $14.4 million net new spending to the State.
- In addition to the total amount of impacts, the Center was projected to create approximately $25.5 million in increased earnings and 540 full time equivalent jobs.
- These results are based on FY 2011 during a downturn in the concert industry. Thirteen concert events were held at the Center during this period, much lower than its historical average of 22 concert events. Therefore, a typical year’s impact is even greater than reflected in the report.
Regarding concert events, the study reported “A major concert at the BI-LO Center creates $1.4 million in the local economy from spending to taxes to jobs. If the BI-LO Center were not in Greenville, residents from Greenville would have gone to Charlotte or Atlanta to see such entertainment.”
“We have recognized for some time that the BI-LO Center has a tremendous economic impact on the local economy and in particular on the tourism and hospitality industry. The board is very pleased to hear that this report confirms our belief of the positive impact BI-LO Center has on the region’s economy,” stated Greenville Arena District board chairman Jeff Gilstrap. “While the arena has made a huge impact on the region since it opened in 1998, the board is looking to the future and how BI-LO Center can have an even greater impact,” Gilstrap added.
The report further stated: “It is our expectation that the community will be surprised at the size of business the BI-LO Center is in terms of economic contribution to Greenville. When this venue is added to the positive contribution of the Peace Center, Fluor Field and the TD Convention Center, it creates a positive entertainment and activity concentration for the downtown business volume. “
The executive summary of the report is available upon request. Roger Newton, BI-LO Center President and General Manager along with Gilstrap are available for interviews.
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