It’s our job to make cash registers ring.
We know that the person standing behind the register is just as important as the person standing in front of it. Tourism is economic impact, and tourism in Cabarrus County has seen significant growth over the years—Growth that helps sustain local business and fuels tax relief for residents.
In 2005, tourism’s estimated economic impact was $222 million. In 2015, the impact was $411 million. Each year, the Research Department of the U.S. Travel Association prepares direct visitor spending estimates for all 100 North Carolina counties, as well as county level employment, payroll and tax revenues as a result of direct visitor spending.
Access statewide county statistics.
Event ImpactIn addition to measuring county level statistics, the Bureau also has the ability to measure the impact of a single event.
The DMAI (Destination Marketing Association International) Event Impact Calculator helps us answer the question, “So what?” by measuring economic value of an event and calculating its return on investment in local taxes. Developed by Tourism Economics, an Oxford Economics Company, the calculator allows the Bureau to run a variety of event scenarios for meetings, conventions and sporting events providing destination-level data which measure the difference in per diem costs by city. Key results defined include business sales, personal income, jobs supports, persons employed, and total federal, state, and local taxes generated by the event.
The calculator determined that the 2013 World of Outlaws World Finals at the Dirt Track at Charlotte Motor Speedway created a direct impact of $4,675,503 and a total impact of $7,740,170 for Cabarrus County. A total of 2,235 jobs were supported, and the event provided the local economy with $389,551 in local taxes.