PMG Associates, Inc. November, 2016 Purpose To analyze and - - PowerPoint PPT Presentation

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Jan 19, 2023 269 likes •439 views

PMG Associates, Inc. November, 2016 Purpose To analyze and estimate the economic impact of the Marine Commerce and Tourism Industries on the local and regional economy Methodology The calculation of the economic impact included the

SLIDE 1

PMG Associates, Inc. November, 2016

SLIDE 2

Purpose

 To analyze and estimate the economic impact of

the Marine Commerce and Tourism Industries on the local and regional economy

SLIDE 3

Methodology

 The calculation of the economic impact included the

collection of data from a variety of sources, analyzing this data and providing conclusions regarding the economic throughput generated from the Marine Commerce and Tourism Industries.

 The sources included:

 Collection of direct empirical data from businesses in the area

and visitors to the community through direct intercept surveys and separate interviews

 Data from public agencies providing Sales Tax, Tourism and

Fishing Data

 Data from private sources that added demographics, spending

figures and total sales activity

SLIDE 4

Businesses Identified

 Over 160 businesses identified and contacted  Include:

 Food Industries  Eat and Drink  General Merchandise  Wholesale  Marine  Amusements  Commercial Real Estate  Hotel/Motel

SLIDE 5

Map of Properties

SLIDE 6

Surveys

 Business Survey  Hotel Survey  General Tourist Survey  Supplemented by outside data sources

 Hoovers  State Department of Revenue  Nielsen

SLIDE 7

Impact – Marine Commerce

 Marine Enterprises - Throughput - $46 million

annually direct

 Wholesale/Food Producing -Throughput- $12.8

million annually direct

 With Multiplier – total of $98.6 million

SLIDE 8

Impact - Tourism

 Total annual visitors 1.1 million  Seasonal Residents include 3,414 units (part-time)  Impacts include

 Hotel/Motel  Retail  Restaurant  Other Miscellaneous

 Total Throughput annually - $89.6 million  With Multiplier – $153.4 million

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Total Impact

 Direct - $148.4 million  Indirect – $103.6 million  Total – $252.0 million

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Employment

 Marine Commerce

 Direct – 360  Indirect – 244  Total -604

 Tourism

 Direct – 1,046  Indirect – 765  Total – 1,811

 All Industries

 Direct – 1,406  Indirect – 1,009  Total – 2,415

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Future Development Potential

 Large Boat Repair  Hotel

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Quality of Life

 Culture

 Festivals

 Arts/Museum

 Events

 Parks  Quality of Life Index  Business Climate

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Obstacles

 Transportation

 Roadway Improvements

 Competition

 Apalachicola; Tampa/St. Petersburg

 Workforce

 Sufficient labor  Training facilities

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Tourism Comparison

Bed Tax generated in Tarpon Springs = $453,700

Category Pinellas County Tarpon Springs % of County Overnight Visitors 6,125,300 200,650 3.3% Day Visitors 8,549,700 944,286 11.0%

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Commercial Fishing

 Tarpon Springs represents 56% of the value of all

fish landed in Pinellas County

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Conclusion

 Annual Impact $252.0 million annually (Direct

and Indirect)

 Employment 2,415 annually (Direct and Indirect)

 21% of the total Workforce in the City