Comment and analysis on all things Charlotte

DNC economic impact

From the UPoR:

September’s Democratic National Convention injected $91 million in new spending into the local economy, for a total economic impact of nearly $164 million, according to a consultant’s report released Monday.

The three-day DNC was the city’s largest convention and its most lucrative, local leaders said during a news conference Monday. More than one in five dollars poured into the local economy came from the federal government, through a security grant.

Is that overstated? Of course. As overstated as if the CRVA had calculated it themselves? No. But when the city of Charlotte, Center City Partners, the Charlotte Chamber, the Charlotte Regional Visitors Authority and the Charlotte Regional Partnership hire a consultant to calculate the impact of something like this, they’re looking for someone to provide them with the answer that they want to hear.

2 Responses to “DNC economic impact”

  • Jan
    29
    2013

    Michael, when they say “total economic impact” in this context (with a straight face, no less), does that mean net?

  • Jan
    30
    2013

    I’m as confused as you are by their terminology. My guess is that the $91 million is their projection of the net additionally spending and then they use a multiplier of some sort to get to the $163.6 million for the “total economic impact.”

JLF Network Websites & Blogs