Budget Growth

budget-growth-chart

Investing in the visitor’s future.

The Cabarrus County CVB’s Budget is based primarily on the Occupancy Tax Collections paid by visitors who stay in a Cabarrus County lodging property. As our budget grows, so do opportunities and advancements for the visitor’s benefit as we cycle their dollars back into the destination.

In 2003, the tax rate was 3% and the lodging properties were limited service providing rooms for leisure race fans, corporate transient travelers, sporting events, and group tour travel. Shortly after, the occupancy tax rate was moved to 5% and subsequently to 6% (the state maximum rate) to help provide additional funds to market the growth of the destination. 

Growth in revenues has afforded the Cabarrus County CVB the opportunity to market, sell, and provide services to even larger audiences. In 2003, the Cabarrus Arena and Events Center was built serving as the first large scale indoor event facility in the county hosting shows, indoor sporting events, and concerts. In 2007, the Embassy Suites and Concord Convention Center moved in giving the county much needed space to host meetings and conventions. While the economy for the rest of the country in 2008 began to suffer, tourism in Cabarrus County saw significant growth with the development of several lodging properties which increased room supply by 30%. The largest of these was Great Wolf Lodge, a year-round family destination.

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  • Visit us
    10099 Weddington Road Ext. - Suite 102
    Concord, NC 28027
  • Call us
    704-782 4340
    800-848 3740
  • Write us
    Hey@VisitCabarrus.com
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