Southeastern study shows $4 million impact of Slidell's Northshore Harbor Center
Contact: Rene Abadie
4/27/07
HAMMOND -- The Northshore Harbor Center, a convention facility in Slidell, had an economic impact on the region of more than $4 million in 2006, according to a study conducted by the Southeastern Louisiana University Business Research Center.
The gross economic impact of $4,026,496 is based on the direct expenditures for the operations of the center, expenditures on activities associated with the center, and estimates of the “ripple effects” based upon generally accepted economic multipliers.
The study was commissioned by the center and coordinated by A.M.M. Jamal, professor of management, using standard research methods, models and techniques. Jamal has conducted numerous economic impact studies of businesses and events throughout southeast Louisiana.
To estimate total impact, Southeastern researchers used multipliers developed by the U.S. Department of Commerce’s Bureau of Economic Analysis, which are designed to measure the overall economic impact, including the ripple effect that is generated by expenditures.
The center hosted 37 events in 2006, with many spanning several days. According to the Southeastern study, direct expenditures for operating the center in 2006 totaled $1.14 million, while $1.3 million was spent on activities associated with the center. Applying the appropriate economic multipliers yielded the gross economic impact of approximately $4.03 million for St. Tammany Parish, which includes an estimated $1.25 million in income for residents of the area.
“We knew that we were improving the quality of life for our citizens through the many new and exciting events that the center brings to the parish,” said General Manager Kerry Painter. “The results of this study confirm that we are indeed fulfilling the other crucial part of our stated mission. We look forward to increasing this impact as the center moves ahead through 2007 and beyond.”
The Northshore Harbor Center, a 45,000 square foot convention facility, opened in May 2005. The facility can accommodate more than 2,500 people for conventions, conferences, tradeshows and other events.
The Southeastern Business Research Center is a joint operation of the university’s Southeast Louisiana Business Center and the College of Business and provides applied economic analyses and research studies that assist business and economic development efforts in the region.
More News...
