AE-03094 THE ECONOMIC IMPACT OF THE GRADY COUNTY FAIRGROUNDS ON THE ECONOMY OF GRADY COUNTY, OKLAHOMA Suzette Barta – Extension Assistant, OSU, Stillwater (405) 744-6186 Susan Trzebiatowski – Student Assistant, OSU, Stillwater (405) 744-6186 Mark Gregory – Interim CED, OSU, Chickasha (405) 224-2216 Stan Ralstin – Area Community Development Specialist, OSU, Enid (580) 233-5295 Mike D. Woods – Extension Economist, OSU, Stillwater (580) 744-9837 OKLAHOMA COOPERATIVE EXTENSION SERVICE OKLAHOMA STATE UNIVERSITY October 2003
Transcript
AE-03094
THE ECONOMIC IMPACT OF THE GRADY COUNTY FAIRGROUNDS
Susan Trzebiatowski – Student Assistant, OSU, Stillwater
(405) 744-6186
Mark Gregory – Interim CED, OSU, Chickasha (405) 224-2216
Stan Ralstin – Area Community Development Specialist, OSU, Enid
(580) 233-5295
Mike D. Woods – Extension Economist, OSU, Stillwater (580) 744-9837
OKLAHOMA COOPERATIVE EXTENSION SERVICE OKLAHOMA STATE UNIVERSITY
October 2003
The Economic Impact of the Grady County Fairgrounds on the Economy of Grady County, Oklahoma
Suzette Barta Susan Trzebiatowski Mike Woods Extension Assistant Student Assistant Extension Economist Room 527, Ag. Hall Room 527, Ag. Hall Room 514, Ag. Hall Oklahoma State University Oklahoma State University Oklahoma State University Stillwater, OK 74078-6026 Stillwater, OK 74078-6026 Stillwater, OK 74078-6026 [email protected][email protected][email protected] Mark Gregory Stan Ralstin Interim CED Area Ext. Comm. Dev. Specialist 828 Choctaw 205 W. Maple, Suite 610 Chickasha, OK 73018-2310 Enid, OK 73701-4011 [email protected] ABSTRACT
This paper provides an impact study of the Grady County Fairgrounds on the economy of Grady County, Oklahoma. Information provided includes population, employment, income, and sales tax data for Grady County.
"Oklahoma State University, in compliance with Title VI and VII of the Civil Rights Act of 1964, Executive Order 11246 as amended, Title IX of the Education Amendments of 1972, Americans with Disabilities Act of 1990, and other federal laws and regulations, does not discriminate on the basis of race, color, national origin, sex, age, religion, disability, or status as a veteran in any of its policies, practices or procedures. This includes but is not limited to admissions, employment financial aid, and educational services."
"Readers may make verbatim copies of this document for non-commercial purposes by any means."
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The Economic Impact of the Grady County Fairgrounds on the Economy of Grady County, Oklahoma
Fairgrounds or convention type facilities have a tremendous impact on the community in
which they are located. These types of facilities bring in a large number of visitors who spend
money in the community and thus greatly effect the economy. The overall objective of this study is
to measure the economic impact of the Grady County Fairgrounds on the economy of the
community. The specific objectives of this report are to:
1. Provide basic economic data for Grady County;
2. Review concepts of community economics and multipliers; and
3. Estimate the direct and secondary impacts of current fairground activities.
No recommendations will be made in this report.
Basic Economic Data
Basic economic data for Grady County are presented in Tables 1 through 7. This
information will aid decision makers as they attempt to evaluate the impact of the Grady County
Fairgrounds activities on the community. The county population was 41,747 in 1990, increased to
45,516 in 2000, and was estimated to increase again in 2002 to 46,664 (Table 1). The population of
Chickasha was 14,988 in 1990, increased to 15,850 in 2000, and the 2002 estimate is 16,064. The
population of Grady County has been increasing over the last fifteen years and this upward trend is
expected to continue. Population by age and sex for Grady County is shown in Table 2. Grady
County has 22,205 males and 23,311 females. The unemployment rate has ranged from 3.4% to
8.0% over the last fourteen years (Table 3). The 2002 unemployment rate was 3.8%.
Employment and income data are presented in Tables 4a, 4b, 5a and 5b. The Bureau of
Economic Analysis (BEA) reported employment and income by the 1987 Standard Industrial
Classification up until 2000. In 2001, the BEA started reporting employment and income by the
2002 North American Industry Classification System (NAICS). Total employment for Grady
County has increased from 19,296 in 1995 to 21,370 in 2001 (Tables 4a and 4b). Total personal
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income has increased every year over a seven-year period from $689,250,000 in 1995 to
$885,391,000 in 2001. The per capita personal income has also increased each year over a seven-
year period, from $15,882 in 1995, $16,595 in 1997, $17,782 in 1999, to $19,300 in 2001 (Tables
5a and 5b). Sales tax collections, which reflect retail trade activity, have increased every year over
the last eleven years for Chickasha from $3,832,421.12 in 1993 to $6,582,256.18 in 2003 (Table 6).
Table 7 shows 2000 Census data pertaining to population and housing for Grady County.
The median age in Grady County is 36.5 years. In Grady County, 26.7% of the total population are
under 18 and 13.1% are 65 years and over. There are a total of 17,341 total households with 73.8%
being family households and 26.2% being non-family households. For Grady County there are an
average of 2.58 persons per household.
The data shows there are 39,742 whites, 1,391 African Americans, 2,206 American Indians
and Alaska Native, 155 Asians, 1,316 Hispanics, and 528 of other race. Whites account for 87.3%
of the total population, African Americans 3.1% percent, American Indians and Alaska Native
4.8%, Asians 0.3%, and Hispanics 2.9%. Total percentage may exceed 100 due to the possibility of
Hispanics being counted in more than one category. Grady County has 19,444 total housing units
with 13,123 units owner occupied, 4,218 renter occupied, and 2,103 vacant units.
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Table 1 Population Estimates by Community for Grady County,
Oklahoma, 1990, 2000, and 2002 2002 Percent 1990 2000 Estimate Change* Alex 639 635 640 +0.7 Amber 418 490 505 +3.1 Bradley 166 182 185 +1.6 Chickasha 14,988 15,850 16,064 +1.4 Minco 1,411 1,672 1,695 +1.4 Ninnekah 1,016 994 1,022 +2.8 Norge 97 82 83 +1.2 Pocasset N/A 192 199 +3.6 Rush Springs 1,229 1,278 1,280 +0.2 Tuttle 2,807 4,294 4,618 +7.5 Verden 546 659 662 +0.4 Remainder of County 18,430 19,188 19,711 +2.7 Total 41,747 45,516 46,664 +2.5 Source: 1990 and 2000 Population, U.S. Bureau of the Census; 2002 Estimated Population,
Population Estimates Branch, U.S. Bureau of the Census. * Percent change from 2000 to 2002.
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Table 2 Population Estimates by Age and Sex for Grady County,
SOURCE: Regional Economic Information System, Bureau of Economic Analysis, 2003
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Table 4b Employment by Major Sector for Grady County, 2001
Item 2001
Total employment 21,370
Farm employment 2,474
Forestry, fishing, related activities, and other 3/ 166
Mining 502
Utilities 47
Construction 1,527
Manufacturing 3,111
Wholesale trade 684
Retail trade 2,211
Transportation and warehousing 426
Information 148
Finance and insurance 665
Real estate and rental and leasing 484
Professional and technical services (D)
Management of companies and enterprises (D)
Administrative and waste services 784
Educational services 58
Health care and social assistance 1,337
Arts, entertainment, and recreation 216
Accommodation and food services 1,272
Other services, except public administration 1,669
Government and government enterprises 2,90 (D) Not shown to avoid disclosure of confidential information, but the estimates for this item are included in the totals. SOURCE: Regional Economic Information System, Bureau of Economic Analysis, 2003
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Table 5a Personal Income by Major Source for Grady County, 1995-2000
(Thousands of dollars)
1995 1996 1997 1998 1999 2000 Earnings by place of work 345,262 366,508 373,226 397,125 404,348 423,245Wage and Salary Disbursements 259,234 269,790 275,190 284,302 284,338 298,791Other Labor Income 40,206 40,556 38,254 39,723 38,668 41,946Proprietors’ Income 45,822 56,162 59,782 73,100 81,342 82,508 plus: Adjustment for residence 126,468 127,058 132,475 139,972 149,312 164,449plus: Dividends, interest, and rent 113,098 121,872 129,514 139,402 136,575 150,998plus: Transfer payments 126,950 133,471 130,765 134,298 138,903 144,589less: Personal cont. for social insur. 22,528 22,987 23,171 24,014 23,952 24,627 Total personal income 689,250 725,922 742,809 786,783 805,186 858,654 Per capita personal income (dollars) 15,882 16,388 16,595 17,484 17,782 18,834
SOURCE: Regional Economics Information System, Bureau of Economic Analysis, 2003.
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Table 5b
Personal Income by Major Source for Grady County, 2001 (Thousands of dollars)
2001
Personal income 885,391
Per capita personal income (dollars) 19,300
Derivation of personal income
Earnings by place of work 438,167
less: Personal contrb. for social insurance 26,858
plus: Adjustment for residence 166,797
equals: Net earnings by place of residence 578,106
plus: Dividends, interest, and rent 153,335
plus: Transfer payments 153,950
Earnings by place of work
Components of earnings
Wage and salary disbursements 318,225
Other labor income 44,225
Proprietors' income 75,717
Farm proprietors' income 9,027 SOURCE: Regional Economics Information System, Bureau of Economic Analysis, 2003.
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Table 6 Sales Tax Collections for the City of Chickasha, 1993-2003
Year Collections1 FY 1993 $3,832,421.12 FY 1994 4,276,755.03 FY 1995 5,257,060.61 FY 1996 5,503,665.77 FY 1997 5,608,962.53 FY 1998 5,666,058.74 FY 1999 5,753,588.88 FY 2000 5,983,105.39 FY 2001 6,385,245.67 FY 2002 6,634,842.05 FY 2003 6,582,256.18 1 Based on 3% sales tax for the first 9 months of FY 1994 ($3,069,268.53.) Sales tax
increased to 3.75% for the last 3 months of FY 1994 ($1,207,486.50). SOURCE:Annual Reports, Oklahoma State and Municipal Sales and Use Taxes, Fiscal Year Ended June 30, 1993-2003. Oklahoma Tax Commission, Sales and Use Tax Division, prepared by the Office of Economic Research.
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Table 7 2000 Census of Population and Housing for Grady County
Total population 45,516 Race
Under 5 years 3,110 Hispanic or Latino Population 1,3165 to 9 years 3,205 Not Hispanic or Latino Population 44,20010 to 14 years 3,593 White 39,74215 to 17 years 2,230 Black or African American 1,39118 and 19 years 1,480 American Indian and Alaska Native 2,20620 years 628 Asian Alone 15521 years 627 Native Hawaiian and Other Pacific Islander alone 1922 to 24 years 1,505 Some other race alone 50925 to 29 years 2,571 Sex and Age 30 to 34 years 2,820 35 to 39 years 3,569 Total Households 17,34140 to 44 years 3,657 Family households 12,79945 to 49 years 3,216 Married-couple family 10,49050 to 54 years 2,830 Other family 2,30955 to 59 years 2,475 Nonfamily households 4,54260 and 61 years 863 Average Household Size 2.5862 to 64 years 1,179 65 and 66 years 747 Total Housing Units 19,44467 to 69 years 973 Occupied Housing Units 17,34170 to 74 years 1,447 Owner Occupied Housing Units 13,12375 to 79 years 1,159 Renter Occupied Housing Units 4,21880 to 84 years 818 Vacant Housing Units 2,10385 years and over 814
Median age 36.5
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Some Basic Concepts of Community Economics and Income and Employment Multipliers
Figure 1 illustrates the major flows of goods, services, and dollars of any economy. The
foundation of a community's economy are those businesses which sell some or all of their goods
and services to buyers outside of the community. Such a business is a basic industry. The flow of
products out of, and dollars into, a community are represented by the two arrows in the upper right
portion of Figure 1. To produce these goods and services for "export" outside the community, the
basic industry purchases inputs from outside of the community, labor from the residents or
"households" of the community, and inputs from service industries located within the community.
The flow of labor, goods, and services in the community is completed by households using their
earnings to purchase goods and services from the community's service industries. It is evident from
the interrelationships illustrated in Figure 1 that a change in any one segment of a community's
economy will have reverberations throughout the entire economic system of the community.
Consider for instance, the spending of Grady County Fairgrounds and its employees. The
fairgrounds pays employees and thus dollars go to households. Likewise, the fairgrounds purchases
goods from other businesses and dollars flow to other businesses. This increases income in the
"households" segment of the economy. Since earnings increase, households increase their
purchases of goods and services from businesses within the "services" segment of the economy.
This in turn increases these businesses' purchases of labor and inputs. Thus, the change in the
economic base works its way throughout the entire local economy.
The total impact of a change in the economy consists of direct, indirect, and induced
impacts. Direct impacts are the changes in the activities of the impacting industry, such as the
spending of a fairground. The impacting business, such as the fairgrounds, changes its purchases of
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Figure 1 Overview of Community Economic System
$
Services
Inputs $ $
Households
Goods & Services
Products
$Inputs
$Basic
Industry
Labor
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inputs as a result of the direct impact. This produces an indirect impact in the business sectors.
Both the direct and indirect impacts change the flow of dollars to the community's households. The
households alter their consumption accordingly. The effect of this change in household
consumption upon businesses in a community is referred to as an induced impact.
A measure is needed that yields the effects created by an increase or decrease in economic
activity. In economics, this measure is called the multiplier effect. A type III multiplier is used in
this report. It is defined as: Type III1 -is the ratio between direct employment, or that employment used by the industry
initially experiencing a change in final demand and the direct, indirect, and induced employment.
A Type III employment multiplier of 3.0 indicates that if one job is created by a new
industry, 2.0 jobs are created in other sectors due to business (indirect) and household (induced)
spending.
The Economic Impact of the Current Fairground Activities
To estimate the total economic impact of an economic activity such as a fairgrounds, it is
necessary to divide the activities into direct and secondary. The relationship between direct and
secondary is measured by economic multipliers as discussed above.
The Direct Economic Activity
The Grady County Fairgrounds activities have an extremely large direct impact on
Chickasha and Grady County. The direct effects will be divided into two components for analysis
1The Type III multiplier is a modified Type II multiplier and is calculated slightly differently than normal type II methodology. Researchers feel it is more accurate. For specific reasons and how to calculate see [1].
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and discussion. These include: (1) the impact of the fairground's employees; and (2) the impact of
visitors spending on the economy.
Direct Impact of Employees
The fairgrounds employ one full-time and one half-time employee. Data from the
fairground’s records indicate this employment results in a payroll of approximately $27,000. (Data
from AE-9627).
Direct Impact of Visitor Spending
To estimate visitor spending, the number of events and attendances had to be summarized.
The distribution of events and activities for the Grady County Fairgrounds for 2000 is presented in
Table 8. The largest attended event was the two antique car shows. Other frequent activities
included banquets, meetings, flea markets, and family reunions.
Data in Table 9 summarizes the actual attendance at the Grady County Fairgrounds for
2001. Data in Table 10 summarizes the actual attendance at the Grady County Fairgrounds in 2002
while data in Table 11 summarizes the actual attendance at the Grady County Fairgrounds in 2003.
Again, the antique car shows have the largest attendance for each year.
The total number of visitors for 2003 is estimated to be 235,520; of this total 26,278 are
local visitors and 209,242 are out of town visitors. After estimating the number of visitors, it is
necessary to estimate their daily expenditures. The best way to do this would be with a survey of
visitors. However, since time did not permit this, three different expenditure levels were used for
daily local visitors, daily out of town visitors, and overnight visitors. These are presented in Table
12. If daily local visitors total 26,278 and each spent $10 per day, their total annual expenditures
would be $262,780. If daily out of town visitors total 209,242 and each spent $10 per day, their
annual expenditures would be $2,092,420. Annual visitor expenditures at the local daily rate of $10
and out of town daily rate of $20 would total $4,447,620.
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The visitor expenditures total had to be converted to jobs and income. This was
accomplished by employing the employment expenditure ratio from the Grady County Input-Output
model. Employment due to visitor spending was estimated at 120 jobs (Table 13). To project
payroll of these employees, the average salary paid by those sectors as reported by the Grady
County Input-Output model was utilized. Thus, the payroll associated with visitor spending was
$1,972,680. This of course, assumes the middle expenditure level as depicted in Table 12.
Secondary Impacts of Current Fairgrounds Spending
Employment and income multipliers for Grady County have been calculated by use of the
IMPLAN model. It was developed by the U.S. Forest Service and is a model, which allows for
development of county multipliers Type III employment multipliers. The county employment
multiplier was found by taking the average of the three sector multipliers (retail trade sector;
finance, insurance, and real estate sector; and service sector). The Type III employment multiplier
was 1.69, which indicates that for each job created by direct activities, .69 jobs are created
throughout Grady County due to business (indirect) and household (induced) spending. The Type
III income multiplier was estimated at 1.83, which indicates that for each dollar created by the
fairgrounds, .83 are created throughout Grady County due to business (indirect) and household
(induced) spending. The multipliers for Grady County are low because inputs are purchased from
outside the county and many residents go outside the county to purchase goods and services
(primarily Oklahoma City).
Applying the employment and income multipliers to the direct employee effect and visitor
spending yields an estimate of the total employment and income impact of the fairgrounds (Table
13). The total employment impact is estimated at 205 (121.5 x 1.69). The total income impact is
projected at $3,659,414 ($1,999,680 x 1.83).
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Table 8 Grady County
Actual Attendance at Fairgrounds Events in 2000 Number Total Out of Town Local Event of Events Attendance Attendance Attendance 4-H Jr. RoundUp 1 100 90 10 AI Clinic 1 100 90 10 Antique Car Swap Meet 2 150,000 142,000 8,000 Auction 1 300 200 100 Banquets 17 2,650 1,060 1,590 Beauty Pageant 1 150 100 50 Bull Riding 2 400 240 160 Car Show 2 1,000 600 400 Cattle Conference 1 150 135 15 Chili Cook-off 1 2,200 440 1,760 Circus 1 300 30 270 Council 2 100 75 25 County Fair 2 10,000 7,500 2,500 Craft Show 1 200 175 25 Crop Clinic 1 100 90 10 Dance 2 400 350 50 Election 5 750 --- 750 Equine Class 1 350 35 315 Farm Machinery Show 1 100 90 10 Flea Market 8 3,200 1,600 1,600 Graduation Party 1 500 --- 500 HCE Workday 2 50 40 10 Hair Style Show 1 50 --- 50 Horse Show 1 200 160 40 Jr. Livestock Show 1 2,000 1,975 25 Livestock Judging Contest 1 100 75 25 Meetings 37 1,975 990 985 Motorcycle Swap Meet 1 300 200 100 Musical (CD Signing 1 50 --- 50 Pig Sale 1 200 125 75 RA Racers 1 100 50 50 PreWar Swap Meet 1 20,000 18,000 2,000 Reception 5 750 450 300 Reunion (Class) 1 500 250 250 Reunion (Family) 16 2,500 2,000 500 Rodeo 1 750 400 350 Style Show 1 100 80 20
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Team Roping 6 850 680 170 Tool Sale 1 400 280 120 Toy Distribution 1 300 --- 300 Toy Tractor Show 1 500 400 100 TOTAL 134 204,725 181,055 23,670 SOURCE: Local data from Grady County
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Table 9 Grady County
Actual Attendance at Fairgrounds Events in 2001 Number Total Out of Town Local Event of Events Attendance Attendance Attendance Antique Car Show 1 150,000 142,000 8,000 Auction 1 300 200 100 Banquet 5 500 200 300 Barrel Race 2 300 255 45 Circus 1 150 15 135 Council 2 100 75 25 County Fair 1 10,000 7,500 2,500 Craft Show 1 200 25 175 Dance 2 400 100 300 Dog Obedience Class 1 25 --- 25 Election 6 900 --- 900 Health Screening 1 25 --- 25 Horse Show 1 750 500 250 Livestock Judging Contest 1 100 75 25 Meeting 11 500 250 250 PreWar Swap Meet 1 20,000 18,000 2,000 Reception 2 400 240 160 Rodeo 1 750 400 350 Reunion (Family) 5 550 440 110 SW Dist. Sheep Nomination 1 1,200 1,170 30 Team Roping 2 300 240 60 Tool Sale 1 200 140 60 Toy Distribution 1 300 --- 300 Wedding 3 700 420 280 Totals 54 188,650 172,245 16,405 SOURCE: Local data from Grady County
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Table 10 Grady County
Actual Attendance at Fairgrounds Events in 2002 Number Total Out of Town Local Event of Events Attendance Attendance Attendance 4-H Round Up 1 50 40 10 Antique Car Show 2 150,000 142,000 8,000 Antique Sale 1 200 150 50 Banquet 19 3,150 1,260 1,890 Barrel Horse Show 3 2,500 2,125 375 Bridal Fair 1 300 150 150 Bull Buck 3 300 180 120 Cattle Conference 1 200 125 75 Chili Cook Off 1 2,200 1,760 440 Circus 3 450 405 45 Concert 1 400 360 40 Council 2 100 75 25 County Fair 1 10,000 7,500 2,500 Craft Show 1 500 100 400 Cutting Horse Show 4 600 540 60 Dance 2 400 360 40 Election 7 1,050 --- 1,050 Girl Scout Volunteer Fair 1 200 175 25 HCE Workday 2 50 40 10 Home and Garden Show 1 500 100 400 Horse Show 1 300 200 100 Livestock Judg. Contest 2 250 200 50 Livestock Show-District 1 3,000 2,900 100 Livestock Show-County 1 2,000 1,975 25 Meeting 19 1,100 550 550 Moorman Classic 1 3,600 3,400 200 Play Day Practice 8 225 25 200 PreWar Swap Meet 1 20,000 18,000 2,000 Reception 4 700 420 280 Reunion (Class) 1 250 250 --- Reunion (Family) 20 3,550 2,840 710 Revival 1 200 100 100 Rodeo 2 1,200 1,000 200 Sheep Nominations-Dist 1 1,200 1,170 30 Soccer Practice 7 175 --- 175 Spaghetti Day 1 1,200 240 960 Style Show 1 75 60 15
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Team Roping 10 1,450 1,160 290 Tool Sale 5 850 595 255 Toy Tractor Show 1 500 400 100 Wedding 1 200 120 80 Totals 146 215,175 193,050 22,175 SOURCE: Local data from Grady County
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Table 11 Grady County
Actual Attendance at Fairgrounds Events in 2003 Number Total Out of Town Local Event of Events Attendance Attendance Attendance 4-H Round Up 1 50 40 10 Antique Car Show 2 150,000 142,000 8,000 Auction 1 500 250 250 Banquet 11 2,025 810 1,215 Barrel Horse Show 2 2,250 1,913 337 Bridal Fair 1 300 150 150 Bull Buck 5 500 300 200 Chili Cook Off 1 2,200 440 1,760 Circus 2 250 25 225 Concert 1 250 25 225 Cooking School 1 50 --- 50 Council 2 100 75 25 County Fair 1 10,000 7,500 2,500 Craft Show 1 500 100 400 Cutting Horse Show 3 600 540 60 Dance 4 1,200 850 350 Dog Obedience Class 8 110 66 44 Election 3 450 --- 450 Farm Equipment Show 1 250 225 25 Girl Scout Volunteer Fair 1 400 300 100 Goat Workshop 1 50 35 15 Graduation 1 800 700 100 Grandparenting Workshop 1 75 15 60 HCE Workday 2 50 40 10 Hay Day 1 175 125 50 Health Forum 1 100 25 75 Home & Garden Show 1 500 100 400 Horse Auction/Sale 2 400 300 100 Horse Clinic 1 50 45 5 Horseman’s Fair 1 5,000 4,500 500 Horse Show-SW Dist. 1 1,000 950 50 Horse Show 4 10,000 9,500 500 Livestock Judging Contest 1 100 75 25 Livestock Show-Dist. 1 3,000 2,900 100 Livestock Show-County 1 2,000 1,975 25 Meetings 25 1,900 950 950 Moorman Classic 1 3,600 3,400 200
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Pig Sale 4 950 750 200 Play Day Practice 14 350 50 300 Police (Mounted) Clinic 1 50 --- 50 PreWar Swap Meet 1 20,000 18,000 2,000 Rabbit Show 1 300 200 100 Reception 5 1,550 930 620 Revival 1 600 300 300 Reunion (Class 2 600 150 450 Reunion (Family) 23 3,375 2,700 675 Rodeo 1 1,000 200 800 Sheep Nomination-Dist. 1 1,200 1,170 30 Sheep Sale 1 200 180 20 Style Show 1 60 48 12 Team Roping 9 1,350 1,080 270 Tool Sale 2 500 350 150 Toy Tractor Show 1 500 400 100 Tumbling Meet 2 1,000 800 200 Wedding 4 1,150 690 460 Totals 172 235,520 209,242 26,278 SOURCE: Local data from Grady County
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Table 12 Grady County
Estimated Visitor Expenditures (2003) Daily Visitors Local (26,278) Spending Per Day Total Expenditures $5 $131,390 $10 $262,780 $15 $394,170 Daily Visitors Out of Town (209,242) Spending Per Day Total Expenditures $10 $2,092,420 $20 $4,184,840 $30 $6,277,260 Total Expenditures Spending Per Day Total Expenditures Daily Local ($5) Daily out of town ($10) $2,223,810 Daily Local ($10) Daily out of town ($20) $4,447,620 Daily Local ($15) Daily out of town ($30) $6,671,430
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Table 13 Direct, Indirect and Induced Impact of Fairgrounds
On Chickasha and Grady County Direct Impact of Fairgrounds Employees Employment 1.5 Payroll Income $27,000 Direct Impact of Current Fairground Visitors Employment 120.0 Payroll Income $1,972,680 Total Direct Impact Employment 121.5 Income $1,999,680 Indirect and Induced Impact Employment 83.5 Income $1,659,734 Total Impact Employment 205.0 Income $3,659,414
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Retail Sales Data
The study indicated that the visitors spend $4,447,629 annually. It is also assumed that the
employees spend $424,484 locally at retailers (This is found by dividing the indirect and induced
income by the county income to retail sales ratio). Thus, $4,872,113 of retail sales are generated
due to the fairgrounds. Assuming this is spent in Chickasha, then $182,704 of sales taxes (3 3/4%
rate) are collected annually due to the fairgrounds.
Summary
The economic impact of the Grady County Fairgrounds on Chickasha and Grady County is
tremendous. The fact is that the fairgrounds bring in a large number of visitors who spend a vast
amount of money in the area. The secondary impact occurring in the community and in the county
is not extremely large but is very important. The multipliers are small due to the fact that inputs
come from outside the county and that many residents purchase goods and services outside the
county (primarily Oklahoma City). A considerable number of assumptions were made relative to
visitor spending. If these assumptions can be improved, the final estimates can be made more
accurate. If further analysis is desired, please contact your County Extension Director.
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References [1] Palmer, Charles and Eric Siverts, IMPLAN ANALYSIS GUIDE. U.S. Department of
Agriculture, Forest Service Land Management Planning Systems Section, Rocky Mountain Forest and Range Experiment Station, Fort Collins, Colorado, 1985.
[2] Siverts, Eric, Charles Palmer, Ken Walters, and Greg Alward, IMPLAN USER'S GUIDE,
U.S. Department of Agriculture, Forest Service, Systems Application Unit, Land Management Planning, Fort Collins, Colorado, 1983.
[3] Doeksen, Gerald A., et.al, “The Economic Impact of the Grady County Fairgrounds on the
Economy of Grady County, Oklahoma,” Rural Development Oklahoma Cooperative Extension Service, Oklahoma State University. AE-9627, April 1996.
