Maples Crossing Economic Impact

Office of Community and Economic Development - (Project formerly named The Atlantic Center)
Atlantic Center

Direct Impact

Direct impact includes all projected revenues that will be generated from consumers at the Atlantic Center. Direct impact also includes total payroll paid out to employees hired at the facility, in addition to all payroll paid out to temporary construction workers who construct the facility.  Global Property Developers’ analysis anticipates that approximately 500,000 people will be visiting the Atlantic Center, Amesbury, and Greater Essex County. A review of five similar facilities nationwide finds the average annual attendance is over 885,000, or 208,571 per rink. A review of tournament results for 25 tournaments nationwide finds an average of 2,700 Hotel room-nights per event, for 2016, and 2017. The economic impact per tournament for the 2016 and 2017 examples is $2.3 million.The 2017 article titled Moving the Needle in the Sports Tourism Marketplace 20 Nov, 2017 by Peter Francesconi, of Sports Destination Management documents the growing trend in economic activity associated with sports. The Tournaments listed by "Sports Destination Management,2018 CHAMPIONS OF ECONOMIC IMPACT IN SPORTS TOURISM 19 Nov, 2018 By: Mary Helen Spreche " (source of the 2017 and 2016 data) shows a continued positive trend during 2018. The University of Florida published this webpage The Economy of Youth Sports March 4, 2015 clearly outlines the multifaceted levels of economic impact for youth sports. Beyond youth sports the ability to host corporate governance, team-building, and best practice sessions Monday through Friday, will draw business cliental in Massachusetts and border States to Amesbury for their meeting needs.

Fiscal Impact

Fiscal impact refers to all federal, state, and local taxes that will be collected from the development and operations of the new facility. Taxes include all sales taxes collected in association with the generated revenues, as well as all payroll-related taxes collected from full-time employees and temporary construction workers. The City will also collect revenues through lodging taxes for visitors seeking rooms at the two current hotels within the City. The average visitors number 2,700 per event. The hotels in the City and region would be fully occupied for the 23 events during the year with over 62,000 room nights. This is the main reason that the developer is proposing a hotel onsite in a future phase. Based on recent data, hotel revenues to the City are up by 11% between FY 2015 and 2016. As the new hotel, off Elm Street, came online there has been a jump from 2017 to 2018. In the period ending December 31, 2017, (halfway point FY 2018) the City has already earned $241,053. This eclipses the full amount in FY 2017 of $221,972. Add more stays from the Atlantic Center and the revenues will jump considerably.

Indirect Impact

Indirect impact includes all jobs and income generated by businesses that supply goods and services to the project. Examples of businesses that will indirectly benefit from the development of a facility include: suppliers of food for the events center, laundry services, insurance and financial services, and trades providing maintenance services. The developer has already communicated with over twenty local businesses to create both internal and external relationships.

Induced Impact

Induced impact refers to economic effects generated when employees (full-time and temporary) and suppliers re-spend their wages on local consumer purchases. For example, an employee may purchase gas for their car on their way home from work. The TIF agreement will require efforts for local hiring such as a job fair for Amesbury residents.