It has long been assumed that the Seattle Center has a major economic impact on the city, but just how much was revealed in a February analysis prepared for the Seattle Center Foundation.
Authored by University of Washington professor William Beyers using data gathered by the GMA Research Corporation, the 50-page report concluded that the neighborhood attraction pumped $1.15 billion into the local economy last year.
Activities at Seattle Center also created 15,534 jobs and generated $41.1 million in tax revenue for local and state government coffers in 2005, according to the report.
Joel VanEtta, a trustee with the Seattle Center Fondation, found the results to be a bit unexpected. "We all know about the cultural and societal impact," he said. "But I was a little surprised at the magnitude of the economic impact."
The study results were based on two surveys taken between April and December 2005. One involved 2,837 groups of visitors, and another involved Seattle Center businesses.
VanEtta said he found it surprising that 50 percent of visitors to the Seattle Center came from outside of King County. "Most of these people make their trips primarily to go to events or activities at Seattle Center," according to an executive summary of the report.
The survey also broke down the percentage of revenue that each kind of business generated, and sports at 31 percent was the same as attractions and museums, VanEtta noted.
The study didn't address the spillover effects on Queen Anne businesses from activities at the Seattle Center, but there is no question there are some, according to VanEtta. "You can reasonably infer that the events that occur in the center will benefit (local) business," he said.
VanEtta also expects the Bill & Melinda Gates Foundation to make a contribution to the Seattle Center's bottom line when it is built along Fifth Avenue North. "I think it's going to have a positive influence on the center and its economics," he said.
The study will also have value beyond just the numbers, according to VanEtta. "I think it helps in the discussion to come about the future of the center."
That will include the results and recommendations that will come from a report currently being prepared by a task force appointed last fall by Mayor Greg Nickels, VanEtta added. "Having solid data... will help that decision-making."
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