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20 Cards in this Set
- Front
- Back
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Using sports as a means of economic development
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Sports Commissions
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Sport Commission = _____ in Kentucky
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Sports Authority
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Sports Authority
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A statewide agency that represents the entire commonwealth
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Purpose of Sports Authority
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Generates tourism and economic development and creates jobs and positive media exposure for the state
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What the Sports Authority does
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-Works with individuals, communities, other entities (host events- ppl who own facilities, etc.)
-Attract, attain, create new sporting events or conventions for state |
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National Association of Sports Commissions
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-Headquartered in NKY
-Pro organization of ppl in this industry |
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2 Types of Events
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1. Bid Event
2. Stay in 1 place |
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Bid Event
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Regions put together a bid to bring an event
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Ex. of Bid Event
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Olympics, NCAA Final Four, Super Bowl
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Stay in 1 Place Event
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Ex. Derby = stays in Louisville and Masters = always in Augusta, GA
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Top Stay in 1 Place Economic Events in 2000
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1. Indianapolis 500- 400,000 ppl b/c of the time trials and the crazy infield. Brought in an estimated economic impact of $340 million (amount spent b/c of event)
2. Daytona 500- $240 million 3. Brickyard 500- $230 million 4. Super Bowl- $215 million -Derby- $60 million |
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Top Bid Upon Events in 2000
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1. NCAA Final Four- $97 million
2. AAU Championship- $36 million 3. Summer X Games- $32 million 4. College World Series- $27 million 5. NCAA Women's Final Four- $25 million |
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Top Events 2008
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-Daytona 500- $1.9 billion
-Women's Final Four- $19 million (went down) -Men's Final Four- $80-$100 million -Super Bowl- $400 million -World Equestrian Games- $150 million -Ryder Cup- $120-$150 million -Derby- $217 million SBJ Website -US Open- $142 million -MLB All Star Fan Fest- $150 million -Amateur Hockey Championship- $20 million -US Olympic Gymnastic Team Trials- $20 million |
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Formula for Measuring Economic Impact
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# of visitors X # of nights stay X average daily spending
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Factors to Measure Economic Impact of the Kentucky High School Boy's Sweet 16 Tournament
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-Dining
-Hotel -Tickets -Transportation -Memorabilia -Shopping -Entertainment -Gas -Etc. |
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When more people come in and spend more moeny, then more moeny goes to community
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Multiplier
Ex. Serving during big sporting events |
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Economic impact vs. investment
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Ex. Newtown Circle and Newtown Pike = putting millions into b/c of World Equestrian Games
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Pros of putting millions into city b/c hosting major event
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-Money brought in
-Events past WE Games -People coming back to invest |
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Cons of putting millions into city b/c hosting major event
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-Don't know if events will continue
-Don't know if it is a smart investment |
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Local Spending
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Locals don't spend while event goes on b/c overcrowded.
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