Marine Half was full-fledged financial success
First Marine Corps Historic Half generates millions in spending
Date published: 10/4/2008
By PAMELA GOULD
The first Marine Corps Historic Half race generated between $1.97 million and $2.79 million in direct spending in the Fredericksburg region, according to an economic impact study conducted by the University of Mary Washington.
And though those numbers are on the low end of organizers' original projections of $3 million to $4 million in direct impact from the event, the study's range is considered a conservative estimate.
Employing what's known in economic circles as a "multiplier," the roughly $2 million to $3 million in direct spending translates into between $4 million and $6 million in economic impact, said Robert S. Rycroft, the UMW economics professor who supervised the study.
Rycroft said the multiplier results from a new influx of money being spread around the region by the thousands who visited Fredericksburg for the May 18 race. That money traveled from customers to waiters and restaurant owners, for example, and then from them in countless directions.
That spending was a "bright spot" for the city's economy and couldn't have come at a better time, said Fredericksburg City Manager Phil Rodenberg.
He said it countered a "serious" drop in sales-tax revenues for the fiscal year, and is an event the city is counting on for continued revenue in the coming years.
Marine Corps Marathon officials are committed to running the 13.1-mile race in Fredericksburg each May indefinitely, race coordinator Angela Huff said recently.
Nearly 6,000 people registered for the first Historic Half. And, according to the UMW study, between 12,672 and 17,952 people traveled to the city for the event.
With nearly 68 percent of participants coming from outside the Fredericksburg region, the Historic Half is just the kind of event local officials like to see.
"An event that brings people in from outside their ZIP code is a shot for our economy," Rodenberg said. "It gives us a chance to show off our tourism attractions and downtown."
MEALS AND LODGING REVENUES
Spending by the weekend's visitors helped fill the region's coffers--generating between $64,000 and $91,000 in tax revenue, according to the study.
Fredericksburg financial data show the city recorded a significant increase in meals-tax revenues--23.46 percent--and lodging-tax revenues--20.97 percent--when comparing activity in May 2008 with May 2007.
MARINE CORPS HISTORIC HALF STATISTICS, FROM THE ECONOMIC IMPACT STUDY CONDUCTED BY THE UNIVERSITY OF MARY WASHINGTON
12,672-17,952
estimate of people who ran or were part of a runner's party
$1.97--$2.79
Estimate, in millions, of direct spending in the region during race weekend
2.6
average size of a party attending race weekend
$136.88
average amount people expected to spend (per person) during race weekend
4
number of foreign countries represented by runners
43
number of states plus the District of Columbia represented by U.S. runners
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| Marine Corps Historic Half statistics from the economic impact study conducted by the University of Mary Washington
80
percentage of people who took part in local activities besides the half marathon
67.8
percentage of people who came from outside the Fredericksburg region
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| THE DATE: May 17
THE FIELD: Expanding from 5,000 runners to 9,000
THE COURSE: Details are still being ironed out for the course in Fredericksburg, but the canal path won't be part of next year's route because of the number of runners.
PACKET PICKUP AND HEALTHY LIFESTYLE EXPO: Will run Friday, May 15, from 4 to 8 p.m. and Saturday, May 16, from 10 a.m. to 8 p.m. Last year, the Expo ran Saturday and Sunday.
SEMPER FRED FUN RUN: The two-mile Semper Fred Fun Run has morphed into the Semper Fred 5-k (a 3.1-mile race). It's still family- and stroller-friendly, and will include music and mascots.
PASTA DINNER: The event will again include a pre-race pasta dinner with entertainment and a guest speaker. The speaker hasn't yet been decided, but seating will again be limited to 500 because of the space available.
SHUTTLE BUSES: Organizers plan to run buses from the Fredericksburg Expo and Conference Center to the downtown area to give runners a chance to see the course before the race and to facilitate getting visitors downtown. |
| Registration for the second annual Marine Corps Historic Half and the Semper Fred 5-k begins online at noon on Jan. 7.
For details, visit marinecorpshistorichalf.com. |
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Meal tax revenue
May 2007
May 2008
Percent change
Fredericksburg
$526,000
650,402
23.46
Stafford
451,593
441,461
-2.24
Spotsylvania
1,030,901
1,117,197
8.4
Lodging tax revenue
May 2007
May 2008
Percent change
Fredericksburg
82,557
99,866
20.97
Stafford
111,846
119,433
6.78
Spotsylvania
197,465
213,233
7.99
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| MEAL TAX REVENUE
Fredericksburg
Stafford
Spotsylvania
MAY 2007
$526,000
451,593
1,030,901
MAY 2008
650,402
441,461
1,117,197
PERCENT CHANGE
23.46
-2.24
8.4
LODGING TAX REVENUE
Fredericksburg
Stafford
Spotsylvania
MAY 2007
82,557
111,846
197,465
MAY 2008
99,866
119,433
213,233
PERCENT CHANGE
20.97
6.78
7.99 |
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Date published: 10/4/2008
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