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Southern Tier Central presents arena economic-impact estimate to Chemung County IDA
Summary
Southern Tier Central presented retail and visitor-spending modeling that estimates increased local retail and restaurant spending tied to arena events, and recommended additional data to refine the analysis.
Southern Tier Central presented an analysis to the Chemung County Industrial Development Agency on Aug. 14 estimating additional retail and restaurant spending tied to arena events.
The presentation, led by Chelsea, a Southern Tier Central representative, and Victoria, identified in the meeting as the agency's development coordinator, quantified visitor spending and modeled associated tax receipts. Chelsea and Victoria said the analysis combined retail-sales data and Lightcast modeling to estimate incremental economic activity generated by arena visitors in 2024.
The presenters said the model indicated “approximately 388,000 of additional regional of local state and federal tax receipts due to the activity of those visitors,” and that, under an assumed $25 restaurant meal value, visitors contributed about $350,000 in 2020. The presenters noted those figures reflect the scenario modeled and depend on the assumptions used.
Board members thanked the presenters for producing the report without large additional expense and said the paper estimate helps quantify the arena's positives for the local community. One board member said the analysis “puts it on paper, for us.”
Chelsea and Victoria told the IDA the model could be refined if the agency supplied internal data — for example, more detailed local sales or arena incident data — and they offered to run further modeling if additional inputs were provided.
Victoria said Southern Tier Central and affiliated analysts had produced similar reports for other counties and encouraged the IDA to supply any internal sales or cost data to improve the estimates.
The presentation generated no formal action by the IDA; the board accepted the report and moved on to other agenda items.
The IDA did not adopt the report as policy and did not vote on funding for further modeling during the meeting. Staff and Southern Tier Central discussed next steps for adding internal data to the model so future estimates could be more precise.
