Wednesday, March 4, 2015

PA Convention Center brings $728 million to the region

The Pennsylvania Convention Center hosted 226 events during this past fiscal year bringing in $728 million to the region.

PA Convention Center brings $728 million to the region

The Convention Center´s size was almost doubled by a $786 million expansion. Center City hotels agreed to a boost in the hotel tax to help pay for the work.
The Convention Center's size was almost doubled by a $786 million expansion. Center City hotels agreed to a boost in the hotel tax to help pay for the work. DAVID M WARREN / Staff Photographer

The Pennsylvania Convention Center hosted 226 events during this past fiscal year bringing in $728 million to the region.

The Center's economic impact included hotel tax revenue which was six percent higher than the previous fiscal year and nine percent higher than budget projections, according to the Pennsylvania Convention Center Authority (PCCA).

"The Convention Center continues to be the number one driver of the region's hospitality industry," said Gregory J Fox, Chairman of the Board of Directors of the Pennsylvania Convention Center Authority. "When the center hosts an event, attendees drive business at the region's hotels, restaurants, retailers  and attractions which helps to support more 88,000 regional jobs."

From July 2012 through June this year, the Center hosted the Pittsburgh Conference on Analytical Chemistry and Applied Spectroscopy with a $39.3 million economic impact, East Coast Volleyball which brought in $25 million and the American Association of Orthodonists which brought $25.8 million to the region.

Event revenues were about $14 million, roughly $600,000 more than budget projections. It's portion of hotel tax revenues was $28.9 million. The Center spent $31.6 million.

A story by Axis Philly in May, though noted that the Center's projected revenue will drop in the years to come and will have a major impact on the hotel and hospitality industry.

But PCCA spokeswoman Deirdre Childress Hopkins said the Center is "being very aggressive" in increasing its number of events.

About this blog
William Bender, a Drexel graduate who landed at the Daily News in 2007, has covered everything from South Philly mobsters to doomsday hucksters. He occasionally writes about local food trucks and always eats everything on his plate, whether it be a bloody rib eye or a corrupt politician. E-mail tips to benderw@phillynews.com
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David Gambacorta, has been a reporter with the Daily News since 2005, covering crime, police corruption and all of the other bizarre things that happen in Philadelphia. Now he’s covering the 2015 mayor’s race, because he enjoys a good circus just as much as the next guy. He’s always looking to get a cup of coffee. Send news tips and other musings on life to gambacd@phillynews.com
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