Grand Rapids-Kent County Convention Arena Authority release venues economic impact study
Hospitality and entertainment venues are reopening. But while pandemic restrictions were in place, the Grand Rapids-Kent County Convention/Arena Authority commissioned an economic impact study.
During the 2018-2019 fiscal year, before the pandemic and the recession to follow, Grand Rapids Van Andel Arena, DeVos Place Convention Center and DeVos Place Performance Hall fueled the local economy producing more than $82 million in economic activity. The venues creating 1,265 full and part-time jobs.
The Grand Rapids-Kent County Convention/Arena Authority commissioned a study in 2010-2011. Back then, the three venues contributed $58 million to the local economy.
Steve Heacock is CAA Chairman, he says “It’s crucial to use measurable data to quantify their impact on our community and I’m pleased that the results of the study demonstrate that our facilities continue to be a driving force in the local economy.”
MSCG is a University of Michigan student-operated consulting organization conducting both studies. Accessing ticketing and employment data and a variety of multipliers it also concludes the venues have a significant positive impact on nearby residential and commercial properties.