[SA] UTSA says new sports complex would have $193 million impact in San Antonio

[sirkingwilliam]

UTSA says new sports complex would have $193 million impact in San Antonio
San Antonio Business Journal - by W. Scott Bailey

http://sanantonio.bizjournals.com/sa...ml?jst=b_ln_hl

The University of Texas at San Antonio (UTSA), which hopes to get $50 million in Bexar County venue tax revenues to help build a $60 million athletic complex, has completed a new study to support its effort.

Based on the findings in that study, UTSA officials say the proposed multi-sport complex is estimated to generate an economic impact totaling $193 million during the three-year construction period and the initial five years of operations.

The report was developed as a joint effort between the UTSA Institute for Economic Development and the Tourism Management Program in the College of Business. A study oversight committee of representatives from the hotel and rental car industries and the San Antonio Convention and Visitors Bureau also contributed to the analysis.

The venue tax was initially approve by voters in 1999 and was used to construct AT&T Center in 2002. It is a combination of hotel occupancy and rental car taxes.

In September, UTSA made a request to the Bexar County's Amateur Athletics Committee for $50 million in venue tax revenues for the complex, which would include NCAA-quality stadiums for baseball, softball, soccer, track and tennis.

The institute's study estimates that the complex could be fully operational in September 2012.

"We took a very conservative approach to calculating the impact of the new complex," says Bob McKinley, associate vice president for UTSA and director of the Institute for Economic Development. "The results indicate that the facility will positively benefit the community at large and the tourism industry."

According to McKinley, the $193 million economic impact projected by the study is in four major categories.

The three-year construction period would generate a total construction impact of $120.3 million (direct and secondary spending).

The first five years of operation in the new complex with UTSA-hosted athletic events would generate an estimated $54.6 million in tourism spending (visitors coming in for athletic events), plus $8.3 million for UTSA co-hosted athletic events, and $9.8 million for operation of the facility.

UTSA already has a track record for helping attract lucrative sporting events to the Alamo City.

In April, UTSA will host the 2008 NCAA Men's Final Four basketball tournament. That tournament will represent the 11th NCAA Championship event hosted by UTSA in the past 11 years.

Says UTSA Athletic Director Lynn Hickey about the economic impact report: "We hope to exceed the institute's projections through full utilization of the complex by both UTSA and the community."