The Jamestown 2007 economic impact study that Chmura Economics & Analytics wrote was recently featured on dailypress.com: 400th anniversary gala sparked $1.2 billion in sales statewide. Here are some excerpts from the article:
WILLIAMSBURG - Visitor spending associated with the 400th anniversary of Jamestown's settlement generated more than $1 billion in statewide sales last year, according to a new report. Jamestown 2007, a sub-agency of the Jamestown-Yorktown Foundation, commissioned Chmura Economics & Analytics to conduct a fiscal impact study of the anniversary. The final report was released Tuesday. The 400th anniversary was observed through 18 months of events and programs that culminated in May 2007 with a visit by Queen Elizabeth II of England and America's Anniversary Weekend festivities attended by President Bush. According to the Richmond firm's research, a total of $1.2 billion in sales was generated throughout Virginia in conjunction with anniversary celebrations. That figure includes $172.8 million in direct visitor spending at commemoration events, $566 million in facilities improvements and event staging and other indirect, or "ripple effect" spending, said Linda Stanier, a Jamestown 2007 spokeswoman. Anniversary-related spending produced about $22 million in tax revenue to the state and about $6.4 million for local governments, the report stated. In addition, the celebrations created more than 20,000 jobs, according to the report. Stanier said the full- and part-time jobs consisted of permanent, temporary and seasonal positions, but she was unable to provide a break down. During 2006 and 2007, national and international interest in the 400th anniversary generated more than 12 billion Jamestown references in various media, including Web sites. That exposure contributed to a boost in attendance at Historic Triangle establishments of 30 percent to 60 percent during 2007, the report stated. Even though the nation's flagging economy has diminished tourism-related figures for 2008, officials are still hopeful gains from the 400th anniversary will produce long-term benefits. "No one has a crystal ball with so many factors involved," Stanier said. "People are looking at things in different ways and are making different choices. It's going to change — tomorrow, I hope. I do believe a new perception of Jamestown and the role Virginia played will continue to reap benefits in many different ways."
WILLIAMSBURG - Visitor spending associated with the 400th anniversary of Jamestown's settlement generated more than $1 billion in statewide sales last year, according to a new report.
Jamestown 2007, a sub-agency of the Jamestown-Yorktown Foundation, commissioned Chmura Economics & Analytics to conduct a fiscal impact study of the anniversary. The final report was released Tuesday.
The 400th anniversary was observed through 18 months of events and programs that culminated in May 2007 with a visit by Queen Elizabeth II of England and America's Anniversary Weekend festivities attended by President Bush.
According to the Richmond firm's research, a total of $1.2 billion in sales was generated throughout Virginia in conjunction with anniversary celebrations.
That figure includes $172.8 million in direct visitor spending at commemoration events, $566 million in facilities improvements and event staging and other indirect, or "ripple effect" spending, said Linda Stanier, a Jamestown 2007 spokeswoman.
Anniversary-related spending produced about $22 million in tax revenue to the state and about $6.4 million for local governments, the report stated.
In addition, the celebrations created more than 20,000 jobs, according to the report. Stanier said the full- and part-time jobs consisted of permanent, temporary and seasonal positions, but she was unable to provide a break down.
During 2006 and 2007, national and international interest in the 400th anniversary generated more than 12 billion Jamestown references in various media, including Web sites. That exposure contributed to a boost in attendance at Historic Triangle establishments of 30 percent to 60 percent during 2007, the report stated.
Even though the nation's flagging economy has diminished tourism-related figures for 2008, officials are still hopeful gains from the 400th anniversary will produce long-term benefits.
"No one has a crystal ball with so many factors involved," Stanier said.
"People are looking at things in different ways and are making different choices. It's going to change — tomorrow, I hope. I do believe a new perception of Jamestown and the role Virginia played will continue to reap benefits in many different ways."
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