VoyForums
[ Show ]
Support VoyForums
[ Shrink ]
VoyForums Announcement: Programming and providing support for this service has been a labor of love since 1997. We are one of the few services online who values our users' privacy, and have never sold your information. We have even fought hard to defend your privacy in legal cases; however, we've done it with almost no financial support -- paying out of pocket to continue providing the service. Due to the issues imposed on us by advertisers, we also stopped hosting most ads on the forums many years ago. We hope you appreciate our efforts.

Show your support by donating any amount. (Note: We are still technically a for-profit company, so your contribution is not tax-deductible.) PayPal Acct: Feedback:

Donate to VoyForums (PayPal):

[ Login ] [ Contact Forum Admin ] [ Main index ] [ Post a new message ] [ Search | Check update time | Archives: 1, 2, 3, 4, 5, 6, 7, 8, 9, [10] ]

[ Next Thread | Previous Thread | Next Message | Previous Message ]

Date Posted: 08:36:35 01/28/06 Sat
Author: Hap
Subject: Thanks, Julie. I've put a couple of recent articles inside that you've probably already seen, one from today's paper and one from the 23rd. Inside>>>>>
In reply to: Julie 's message, "It is an In-state finals Hap---They are calling it an "annual" event to allow New Mexico's colleges with rodeo programs to face off for a state rodeo title. In an earlier article where he announced $777,000 in funding to promote rodeo around the state, it said $60,000 for these finals and $300,000 to upgrade rodeo facilities at at NMSU, Eastern at Portales, NM Highlands, NM Jr. College and Mesa Lands Community College. Gallup got $100,000 to upgrade Red Rock, Socorro got $40,000, Torrance got $46,000, and few other assorted monies to 4-H rodeo programs," on 08:07:43 01/28/06 Sat

Cowboy Bill
In an order from his office, Gov. Bill Richardson has thrown his support behind a bill to create a state cowboy song.

Rep. Gloria Vaughan, R-Alamogordo, introduced a bill that would make the song "New Mexico," written by Calvin Boles and R.D. Blackenship as the state's cowboy song.

The song describes the state as a "land where the cowboys and Indians still roam" and "where missiles are flying and church bells, Spanish mission bells toll, making a picture of the new and old."

************************************************************

Study: Rodeo will bring 10.6 million to Gallup
By Marianne Joyce
Four Corners Business Journal

Jan 23, 2006, 06:00 am

Email this article
Printer friendly page

GALLUP -- A new economic impact study commissioned by the City of Gallup projects that the Wrangler Junior High School Rodeo Finals will bring an estimated $10.6 million into the local economy over a five-year period from 2005 through 2009, according to Larry Binkley, Gallup finance director.

The results of the study will be presented this month at the mid-winter meetings of the National High School Rodeo Association.

ADVERTISEMENT

The Wrangler Division of the NHSRA Finals was held in Gallup for the first time in July 2005, with 609 contestants from across the United States and Canada. "We feel in talking with NHSRA and our local chamber and others locally that the 2005 Wrangler Junior High School Rodeo Finals were a real success from our perspective," Binkley said, "and we have agreed to extend the contract to 2009."


The economic impact study by Tim Darden, a New Mexico economist, used an economic model to look at the direct and indirect revenues and expenses from the 2005 event and then utilized a multiplier of 1.52 to calculate the turnover rate of the dollars as they were spent and re-spent within the Gallup economy for one month following the event.

Using this model, the study estimated a direct impact of $872,000 with an indirect impact of another $366,324 for a total impact of $1.2 million for the 2005 event.

A separate analysis by the city, based upon gross receipts revenues related to the rodeo, concluded an increase in gross receipts revenues of $37,350. Using the city rate for gross receipts tax, the city estimated the impact of the event at $1,339,910, close enough to Darden's figure to inspire confidence in the study.

Expanding on the findings for the impact from the 2005 event, the Darden study then looked at the potential impact of annual events over the five-year period from 2005 to 2009. The model took into account growth in contestants from 609 in 2005 to 1,200 in 2009 and an increase in the duration of the event from five days to seven days with a concomitant increase in motel room nights, arriving at a projected minimum total impact of $10.6 million in the Gallup economy over the five years.

Binkley emphasized these projections resulted in a conservative minimum estimate. "Many other factors were not taken into account, such as sales of vehicle and souvenirs to people in town for the event as well as other receipts directly to the city. The estimated $10.6 million is a minimal impact. We expect to see much more."

In addition to the economic impact, Darden calculated that the event filled an additional 31 jobs, with a total fiscal impact from tax revenues estimated at $217,908.

On the debit side, the operational expenses of $149,202, with another $103,764 going to the Wrangler Division, weighed against the total revenues of $167,328 collected for the event, resulting in a net loss of $84,888 shared by the city of Gallup and Gallup Facilities Management.

The city invested an additional $766,000 in 2005 in capital improvements to Red Rock Park and plans to continue the improvements in 2006 to increase the number of horse stalls and RV spaces. Rentals of horse stalls and RV spaces brought in $86,190 in 2005, together accounting for almost half the total revenue.

"The city's position is that the loss of the first year will be made up in the next four years and the event will become profitable for the NHSRA, city of Gallup and related partnerships," Binkley said.

The 2005 event was produced by the city of Gallup in partnership with the NHSRA, Gallup Facilities Management, and the Gallup-McKinley Chamber of Commerce.

Darden is a policy analyst for the New Mexico Department of Agriculture and a research analyst for the University of Nevada Center for Economic Development. He holds an M.S. degree in Agricultural Economics from NMSU and is an expert in economic modeling and author of many previous economic impact studies.

[ Next Thread | Previous Thread | Next Message | Previous Message ]
[ Contact Forum Admin ]

Forum timezone: GMT-8
VF Version: 3.00b, ConfDB:
Before posting please read our privacy policy.
VoyForums(tm) is a Free Service from Voyager Info-Systems.
Copyright © 1998-2019 Voyager Info-Systems. All Rights Reserved.