Study Shows Millions In Economic Impact Generated By The Kentucky State Fair Board

LOUISVILLE, KY (March 9, 2015) - An analysis of the Kentucky State Fair Board released today shows that the Kentucky Exposition Center and the Kentucky International Convention Center have a significant economic impact on Jefferson County, the region and the entire state.

The Kentucky State Fair Board created $482.3 million of added economic value during the 2014 calendar year, according to a report from a Kentucky-based research firm.

"The Kentucky State Fair Board has a significant impact on our local and regional economies. This study puts the economic value of the facilities and the events we host into perspective, said Clifford "Rip" Rippetoe, president and CEO of the Kentucky State Fair Board. "Our events, facilities and infrastructure are integral to the economies of many industries, in addition to our role in attracting new business and producing first-class events for our local, national and international visitors."

A healthy tourism industry, the study found, means additional business for virtually every other industry throughout the economy.

The report considered how much money is spent by visitors and exhibitors on lodging, food and beverage, gasoline, retail and attractions.

The study shows that in the 2014 calendar year, Kentucky State Fair Board events provided nearly $134.3 million in new payroll to Kentucky workers. In addition, 6,630 jobs were created, resulting from the events held at the Kentucky Exposition Center and the Kentucky International Convention Center.

According to the study, nonresident attendees in 2014 generated 586,268 room nights, and exhibitors and organizers contributed an additional 215,750 room nights.

"The Kentucky State Fair Board and its events play a major role for the tourism industry in Jefferson County, which impacts the entire state economically," said Tourism, Arts and Heritage Secretary Bob Stewart. "This report underscores the important economic impact of the meetings and events which take place in Louisville because of these facilities."

This study of the Kentucky State Fair Board economic impact was compiled by Versailles, Kentucky-based Certec Inc., which used data from event organizers, exhibitors, surveys, the Kentucky Tourism, Arts and Heritage Cabinet and the U.S. Bureau of Economic Analysis.

Nearly two million visitors attended 385 events in 2014. The Kentucky State Fair Board, an agency of the Kentucky Tourism, Arts and Heritage Cabinet, operates two of the largest facilities in the state - the Kentucky Exposition Center and the Kentucky International Convention Center. In addition to managing both facilities, the Kentucky State Fair Board owns the land for more than a dozen properties, including hotels, restaurants and parking garages.

The full report is available at kyexpo.org/publications.html.