Tuesday, July 8, 2014

RNC 2016 Cleveland Convention by the numbers - what can we expect

With the pending announcement of the 2016 Republican National Convention being held in Cleveland, here is a look at the reported economic impact that the RNC convention had on Tampa Bay from August 27-30, 2012.  In addition to the $404 million in total monetary impact there were over 10 billion worldwide media impressions of Tampa Bay in 2012 because of the Convention.

RNC 2016 Cleveland Convention by the numbers - what can we expect.
(Impact data from Tampa Bay 2012 RNC Convention)
  • $60 to 70 million reported commitment needed from Greater Cleveland Host Committee.[$55 million, 2012 Tampa Bay Host Committee amount raised.  Note $10 million was donated as in-kind contributions.  See Donations to the Tampa Bay Host Committee
  • $404 million, total economic impact, with $214 million in direct expenditures made in Tampa Bay.
  • $363 million,  increase in taxable sales for month of August 2012, eight-county area.
  • 10 billion worldwide media impressions of Tampa Bay in 2012 because of the convention.
  • 50,000 convention visitors
  • 15,000 national and international media personnel
(click on images for for a lager view)

 


And, more numbers, a break down:
  • $291.5 million, infrastructure investments by AT&T, Sprint, TECO Energy & Verizon.
  • $50 million, Federal grant for security for the 2012 RNC convention.
  • $18 million, expenditures on hotels in Tampa Bay,
    •  representing 76,000 room nights @ $237/night
  • $1.9 million, increase in gross sales at Tampa International Airport
  • 4,567 volunteers filled 10,000 volunteer roles as the 
  • faces of Tampa Bay during the week.
  • 500 registered small businesses as part of The Small Business Network Directory, marketed to delegations, media and guests in the months leading up to the Convention in order to promote our local small business community
  • Outreach Initiatives in Tampa Bay Area in 2012
    • Military and Green initiatives, Coastal Cleanup Project at Bay Pines VA Hospital Campus in Pinellas County
    • Health and Wellness Water Station, Management, Miles for Moffitt in Tampa.
    • Children and Families, CASA Domestic Violence Emergency Shelter in St. Petersburg.
    • Literacy, Book collection in Tampa
    • School Readiness, School supply collection
    • Food Distribution, Canned food collection
    • School Readiness, Underwear and socks collection for Clothes to Kids
    • Military/Children and Families, Housing improvements, Rebuilding Together Tampa Bay, renovated 35 homes making them safer, healthier and more energy efficient for residents.
REF:

Political Conventions and their economic benefits
- taken with a grain of salt

Rejecting “Conventional” Wisdom:
Estimating the Economic Impact of National Political Conventions
4-1-2008, by Robert A. Baade, Robert Baumann, and Victor A. Matheson,

EXCERPTS: 

 "...Our examination of 18 national political conventions from 1972-2004 suggests that the promoters’ rosy economic projections are overstated, and these events have a negligible impact on local economies..."

"...convention promoters often suggest that prominent events such as the Republican and Democratic National Conventions give cities immeasurable benefits in terms of national and international exposure by being placed in an intense media spotlight. While this contention may be true, it must be realized that the attention a city receives may not portray the city in a positive light..."

"Conclusions
     This paper provides an empirical examination of the economic impact of the Democratic and Republican National Conventions on local economies. Confirming the results of other expost analyses of mega-events, particularly sporting events, this paper finds no statistically significant evidence that these huge conventions contribute positively to a host city’s economy.
     Our analysis from 1970-2005 of the 50 largest metropolitan areas in the country, including all cities that have hosted one of the national conventions during this time period, finds that neither the presence of the Republican nor the Democratic National Convention has a discernable impact on employment, personal income, or personal income per capita in the cities where the events were held.
     While the conventional wisdom regarding national conventions is that they bring fame and fortune to host cities, our results suggest that any economic benefits are quite elusive. People should view promises of economic windfalls from hosting national political conventions in the same way they should view the campaign promises of the candidates at these very conventions – with skepticism."


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