Indiana Dunes National Park An Economic Analysis of the 61 st U.S. - - PowerPoint PPT Presentation

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Jan 06, 2023 464 likes •687 views

Indiana Dunes National Park An Economic Analysis of the 61 st U.S. National Park Anthony B. Sindone, MA Clinical Assistant Professor of Finance and Economic Development Purdue University Northwest College of Business Mount Baldy Central Beach

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Indiana Dunes National Park

An Economic Analysis of the 61st U.S. National Park Anthony B. Sindone, MA Clinical Assistant Professor of Finance and Economic Development Purdue University Northwest College of Business

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Mount Baldy Central Beach Kemil Lot Lakefront Drive Calumet Dune Trailhead Horse/Ski Trail Tremont Lot Porter Beach North Porter Beach South Bailly/Chellberg Tolleston Dunes West Beach Cowles Bog Dunbar Portage Lake Front Greenbelt Parking Area Lake View Information Douglas Center Rookery Visitor Count Segment 17/Little Cal Salt Creek/I-94 Miller Woods Beach

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February 15, 2019

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Park Unit Total Recreation Visits Total Visitor Spending ($000s, $2018) Jobs Labor Income ($000s, $2018) Value Added ($000s, $2018) Economic Output ($000s, $2018) Indiana Dunes NL (Prior to NP) 1,756,080 $77,852 936 $40,147 $67,960 $105,893

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500,000 1,000,000 1,500,000 2,000,000 2,500,000

1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Recreation Vis isitors

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This Month Same Month Last Year % Change This Year YTD Last Year YTD % Change YTD Fiscal YTD Total Recreation Visitors 206,226 167,089 23.4 1,873,817 1,540,105 21.7 2,089,791 Total Non- Recreation Visitors 324 432

25.0

3,060 4,378

30.1

4,385 Total Visitors 206,550 167,521 23.3 1,876,877 1,544,483 21.5 2,094,175

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In 2018: 1.8 million park visitors spent an estimated $77.9 million. Generated/Supported: 937 jobs, $40.1 million in labor income, $68.0 million in value added, and $106 million in economic output in local economies

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Four types of regional economic effects:

Jobs measure annualized full and part time jobs that are supported by NPS visitor

spending.

Labor Income includes employee wages, salaries and payroll benefits, as well as the

incomes of sole proprietors that are supported by NPS visitor spending.

Value Added measures the contribution of NPS visitor spending to the Gross Domestic

Product (GDP) of a regional economy. Value added is equal to the difference between the amount an industry sells a product for and the production cost of the product.

Economic Output is a measure of the total estimated value of the production of goods

and services supported by NPS visitor spending. Economic output is the sum of all intermediate sales (business to business) and final demand (sales to consumers and exports).

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Regional Multipliers: Total Sales: 1.6449 Total Jobs: 1.0670 Total Earnings: 1.5633 In 2018, each visitor contributed approximately $60.30

GRP. (1,756,080 recreational visitors, $105.893M GRP)

2019 estimates: 21.5% increase in visitors over 2018.

GRP contribution is estimated to be $128,659,995! Estimating 1138 jobs!

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Questions?

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Professor Anthony B. (Tony)Sindone asindone@pnw.edu

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Sources: www.bea.gov Emsi- economicmodeling.com. https://irma.nps.gov/Stats/Reports/Park/INDU