Besides the $27.5 million in increased sales that the Boise Centre contributes to local stores, hotels and other retail outlets, the venue contributes 314 full-time jobs and $8.6 million in wages to the Treasure Valleys economy.
Thats according to a study by Boise States College of Business and Economics. The study analyzed the Centres economic contributions through direct, indirect and induced spending that occurs due to events it hosts.
Direct spending is money that people who attend the events spend. Indirect spending comes from merchants who buy supplies and services to meet that demand. Employees who work for businesses that support the Centres events contribute whats known as induced spending.
Centre activities increased income, sales, motor vehicle and tax revenue by more than $1 million, according to the study.
The total cost of running the Centre, including employee wages, maintenance and operations, came to $4.5 million last year. Thats compared to $3.26 million of income, executive director Pat Rice said.
The Centre covered the gap between its costs and income with revenue from taxes on hotels that lie within its district, Rice said.
Sven Berg: 377-6275