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Old 02-05-2019, 03:21 PM   #1
Yakoo752
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Laguna Seca Accounted for $84.4 million in Direct Spending in 2018

Quote:
CSUMB Study Covered 26 Premier Event Race Days

The direct economic spending was segmented in the following categories:

Lodging – $15.05 million (48,664 room nights in Monterey County)
Food and Dining – $22.32 million
Retail and Entertainment – $39.44 million
Transportation – $7.63 million

A total of $6.5 million in county and state taxes was generated from the 26 race days. This includes $1.58 million in Transient Occupancy Tax and $4.9 in other tax proceeds. The study found that the average spending per person during the events was $690, which is higher than the County average of $497. WeatherTech Raceway Laguna Seca also attracted visitors year-round for track rental days and during the Sea Otter Classic that were not accounted for in this study.
No small chunk of change. We need more studies like this to show the realized value of a racetrack to a community.

note this is up from the last study in 2015 (Mazda Raceway Contributed $62M to Monterey County in 2015)
this now fulfills my annual quota of 1 ppy in general
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Last edited by Yakoo752; 02-05-2019 at 03:22 PM..
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Old 02-05-2019, 03:25 PM   #2
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"But the noise! The noise!" - Rich folks buying properties near a known, pre-existing, loud venue.
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Old 02-05-2019, 03:27 PM   #3
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Originally Posted by Mechanikrazy View Post
"But the noise! The noise!" - Rich folks buying properties near a known, pre-existing, loud venue.
That's why it's imperative we keep attending motorsports events to justify their financial necessity to the local government.
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Old 02-05-2019, 04:25 PM   #4
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"But the noise! The noise!" - Rich folks buying properties near a known, pre-existing, loud venue.
The rules only apply to poor people. That's how life's lived, sadly.
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Old 02-05-2019, 04:48 PM   #5
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This is an excellent example of why I was so angry that the Monterey County was not willing to pay more for MotoGP and upgrade the track. Using the spending number in this study ($697) with the one day Laguna MotoGP attendance in 2012, we have 52,677 * 690 = $36,347,130. And anyone that knows anything knows that MotoGP and Formula One patrons spend even more money than other race fans.

MotoGP claims $100 million per race weekend. For Laguna, $50 to $75 million would be more realistic. Which is still a nice return on the investments necessary for one darn weekend at the track . Narrow-minded California bureaucrats may not be good for racing or wise business decisions. A long term plan for the track should have been done 10 years ago. I don't think it has really been done, even as of today.
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Old 02-05-2019, 05:56 PM   #6
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Originally Posted by 295566 View Post
The rules only apply to poor people. That's how life's lived, sadly.
So your saying that if poor people lived there we would not have the sound restrictions and more racing!???
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Old 02-05-2019, 06:48 PM   #7
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Perhaps.the racing orgs should highlight this to the politicos, and taxpayers.
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Old 02-06-2019, 04:21 AM   #8
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Originally Posted by clutchslip View Post
This is an excellent example of why I was so angry that the Monterey County was not willing to pay more for MotoGP and upgrade the track. Using the spending number in this study ($697) with the one day Laguna MotoGP attendance in 2012, we have 52,677 * 690 = $36,347,130. And anyone that knows anything knows that MotoGP and Formula One patrons spend even more money than other race fans.

MotoGP claims $100 million per race weekend. For Laguna, $50 to $75 million would be more realistic. Which is still a nice return on the investments necessary for one darn weekend at the track . Narrow-minded California bureaucrats may not be good for racing or wise business decisions. A long term plan for the track should have been done 10 years ago. I don't think it has really been done, even as of today.
IndyCar test this Friday...…… 20.00 admission, guess where Whammy will be?
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Old 02-06-2019, 06:56 AM   #9
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So your saying that if poor people lived there we would not have the sound restrictions and more racing!???
Correct.
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Old 02-06-2019, 07:38 AM   #10
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So your saying that if poor people lived there we would not have the sound restrictions and more racing!???
Interesting idea. Housing the homeless at Laguna Seca. See how the richies like that.
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Old 02-06-2019, 07:40 AM   #11
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So your saying that if poor people lived there we would not have the sound restrictions and more racing!???
yep
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Old 02-06-2019, 08:15 AM   #12
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Originally Posted by Whammy View Post
IndyCar test this Friday...…… 20.00 admission, guess where Whammy will be?
It will be nice to see Indy cars back on the track. Although, Laguna is really small for those vehicles, anymore. It appears that Weather Tech is putting in money to get more races back at Laguna. I think they also came up with the guarantee for World Superbike, because WSBK was NOT coming back for 2019. I bet the County would not guarantee payment. Maybe it is a trend. Maybe MotoGP will be back, again. I won't hold my crotch, though.
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Old 02-06-2019, 09:05 AM   #13
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Quote:
Originally Posted by Yakoo752 View Post
No small chunk of change. We need more studies like this to show the realized value of a racetrack to a community.

note this is up from the last study in 2015 (Mazda Raceway Contributed $62M to Monterey County in 2015)
this now fulfills my annual quota of 1 ppy in general
Monterey County is a very unique area in that they have numerous events throughout the year that attract large crowds. Any other place and they would notice the huge gain in revenue from the MotoGP event, but here it's not the huge outlier as it would be in many other places.
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Old 02-06-2019, 12:32 PM   #14
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Quote:
Originally Posted by Climber View Post
Monterey County is a very unique area in that they have numerous events throughout the year that attract large crowds.
The study found that the average spending per person during the events was $690, which is higher than the County average of $497.

Good metric to counter with. It "could" be more profitable than most others if they could increase attendance.

The PB Pro Am I think is the biggest generator and I can't find anything close to direct revenue associated.
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Old 02-06-2019, 12:38 PM   #15
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Ugh the Pro AM. right now traffic sucks balls all week.

Not that I notice much but these out of towners need to learn to drive!
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