Economic Impact
FOR IMMEDIATE RELEASE -- West Springfield, Mass. -- September 11, 2008
EASTERN STATES EXPOSITION'S BIG E CONTRIBUTES
$224,970,000 TO LOCAL ECONOMY
The Big E, one of the top 10 fairs in North America, not only provides a one-of-a-kind entertainment experience for the more than 1 million people who attend, it also promotes the agriculture and culture of New England and pumps almost a quarter of a billion dollars into the economy of the region.
In a study, conducted by Regional Economic Models, Inc., (REMI) of Amherst, Mass., the overall economic output as a result of tourism from outside Hampden County to The Big E is $224,970,000 with a Gross Regional Product (analogous to the national Gross Domestic Product) of over $150 million annually.
Eastern States Exposition (ESE) President, Wayne McCary said, "The annual Big E is a powerful energizer in the region's economy and while the Fair itself is a 17-day event, it has a profound year-round impact on employment, disposable income and tax revenues."
The study focuses on The Big E only and does not include shows held on the Eastern States Exposition grounds year-round.
Among the other findings in the report, the Fair:
■ Accounted for 2,800 full-time equivalent jobs outside the Eastern States Exposition. It generates 3,500 temporary jobs at the 17-day Fair.
■ Generated $85.1 million in disposable personal income in Hampden County, its home county.
■ Represents 16.11% of all Hampden County arts, entertainment and recreation industry spending. The Fair also generates 6.4% of the total sales in the accommodations and food services industry.
■ Adds $7.53 million to Massachusetts sales tax revenues as well as more than $468,000 in local hotel taxes.
■ In 2007, paid $1.28 million to the town of West Springfield, including $335,338 in real estate taxes and $171,331, or 1 percent of the Eastern States Exposition's 2006 gross revenues to The Big E/West Springfield Trust Fund, established in 1994 to benefit the town's education, youth and elderly programs as well as community projects. To date, contributions to the fund total $1,971,723.
REMI constructs models which reveal the economic effects that policy initiatives or external events may cause in the local economy. REMI's models have been used throughout the United States by state governments, planning agencies, universities, utilities and private consulting firms. The company's client list includes the AARP, Federal Aviation Administration, Environmental Protection Agency, New York State Department of Economic Development, Massachusetts Institute of Technology, boston Redevelopment Authority and the University of Connecticut. For more information, visit www.remi.com.
The Big E takes place Sept. 12-28 and features top name entertainment, international exhibits, agricultural contests and exciting daily events, including Mardi Gras Parades. For more information, visit www.TheBigE.com.
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