Convention center PFD reports rising economic impact after improved tracking, eyes $92 million in capital needs

Adam Cook, director and liaison to the Greater Tacoma Regional Convention Center Public Facilities District (PFD), told the Economic Development Committee on Sept. 30 that the PFD is pacing ahead of budget for 2025 and is using updated geolocation data to capture a materially larger hotel-night and economic-impact footprint from sporting and other events.

Cook said the PFD is a municipal corporation formed under Washington law (RCW 35.57) to finance, construct and operate the Greater Tacoma Convention Center; the center opened in 2004. The PFD receives a sales tax rebate collected in the City of Tacoma of 0.033% and relies on convention-center operating income for other debt service.

Cook said new geolocation and tracking methods increased the room-night calculation for a major gymnastics event from about 750 room nights to about 8,300, which changed that event’s estimated economic impact from roughly $380,000 in 2024 to about $3.2 million in 2025. He said that recalculation accounts for approximately $9 million of the overall increase in the PFD’s 2025 economic-impact figures; even excluding that adjustment, the venue is pacing noticeably ahead of 2024.

Cook told the committee the venue is currently pacing ahead of budget by about $430,000 as of the presentation and that capital needs are substantial: a 2023 facility condition assessment identified roughly $92 million in capital investment required over the next 20 years to maintain baseline operations.

Cook also highlighted a state law change in 2025: House Bill 1109 extended the PFD sales-tax rebate collection period by 15 years. Cook said the extension moves the collection end date to February 2055 and materially improves bonding capacity to support the center’s future capital needs.

Why it matters: The recalculation of room nights and the HB 1109 extension both increase the PFD’s capacity to make the case for future capital investment while the center shifts toward fewer, larger events that produce higher economic impact for the region.

Additional points - The PFD was formed in 1999…