Summary of Economic Impact Potential of Sheridan Event Center
Sheridan County Travel & Tourism
Sheridan County Travel & Tourism regularly fields requests for information from organizers looking to plan events, meetings, and conventions in Sheridan County. A facility of 50,000 square feet greatly increases the community’s capacity to host medium and large-scale events of many types. Community centers/multi-use facilities in cities like Casper and Gillette regularly host 300+ annual events. Event organizers often look to Sheridan County as a host site for events based on our proximity to the Bighorn National Forest, the cultural allure of our community, and the potential to program pre- and post-event activities as a way to lure additional participants. The Sheridan Event Center will provide this venue for our County.
EXAMPLES OF ECONOMIC IMPACTS THAT WOULD BE PROVIDED BY HAVING THE SHERIDAN EVENT CENTER
| EVENT TYPE | LENGTH | PARTICIPANTS | PARTY SIZE | SPENDING IMPACTS* | TAX BENEFITS (6%)** |
|---|---|---|---|---|---|
| Concert | 1 day | 100 | 280 | $37,800 | $2,268 |
| Indoor Track Meet | 2 days | 500 | 1400 | $378,000 | $22,680 |
| Indoor Soccer Tournament | 2 days | 1,000 | 2,800 | $756,000 | $45,360 |
| Pickleball Tournament | 2 days | 750 | 1,800 | $486,000 | $29,160 |
| Basketball Tournament | 3 days | 250 | 600 | $243,000 | $14,580 |
| Trade Show | 4 days | 2,500 | 6,000 | $3,240,000 | $194,400 |
| Motorcycle Rally | 7 days | 3,500 | 8,400 | $7,938,000 | $476,280 |
*Formula: Total party size x spending per day (daily spending = $135/person)
**Formula: Local spending impacts/6% sales tax
POTENTIAL IMPACT BASED ON NUMBER OF EVENTS HELD IN SHERIDAN EVENT CENTER
| # of Events | Ave Length | Ave # of Participants | Total Visitation* | Annual Visitor Spending** | Annual Visitor Tax Benefits | Annual Facility Revenue*** |
|---|---|---|---|---|---|---|
| 50 | 2 day | 100 | 28,000 | $3,780,000 | $226,800 | $300,000 |
| 100 | 2 day | 100 | 56,000 | $7,560,000 | $453,600 | $600,000 |
| 150 | 2 day | 100 | 84,000 | $11,340,000 | $680,400 | $900,000 |
*Average # of participants x 2.8 party size x average length of event x number of annual events = total visitation
**Total visitation x $135 daily individual average spending = local annual impacts
***$500 daily facility rental + $50 avg food and beverage per participant = facility revenue
This information was provided by Shawn Parker, executive director Sheridan County Travel & Tourism. Please see the full document at this link for more detailed information.