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Senate subcommittee hears pitch for $5 million Virginia sports tourism fund, reviews recent major events
Summary
Virginia Tourism Corporation briefed the Senate subcommittee on Senate Bill 927, a proposed $5 million sports tourism incentive fund, and recapped recent events including the Solheim Cup, Carter Family Fold anniversary programming and an MLB Speedway Classic partnership expected to drive hotel stays and restaurant spending in Virginia.
Rita McClenny, president and CEO of the Virginia Tourism Corporation, told the Economic Development and Natural Resources Subcommittee of the Senate Finance and Appropriations Committee on 2025-10-12 that Senate Bill 927 would create a $5,000,000 Virginia Sports Tourism Incentive Grant Fund to help the Commonwealth compete to attract multi-day sports events.
McClenny said the bill “establishes the Virginia sports tourism incentive grant fund to enhance Virginia’s competitiveness in attracting premier sports tourism activities across the Commonwealth.” She told the panel the fund would build on a $1,000,000 ARPA pilot and is projected to generate about $184,000,000 to $180,000,000 in visitor spending and roughly $3,300,000 in net state tax revenue, depending on event mix and award sizes.
The bill would make destination marketing organizations, sports venues, sports commissions and similar entities eligible to apply; awards would be…
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