Kokomo Tribune; Kokomo, Indiana

Business

December 22, 2013

Business briefs, Dec. 22, 2013

GKEDA hosts legislative forums

The Greater Kokomo Economic Development Alliance will have two forums during the 2014 Indiana General Assembly short session, both featuring an opportunity to talk with state legislators.

The first forum is 4:30 p.m. to 6 p.m. Jan. 10, at Kresge Auditorium, Indiana University Kokomo.

The second forum will be a luncheon from 11:30 a.m. to 1 p.m. March 19, at a time and location yet to be determined.

Study shows tourism impact on state

Travel, tourism and hospitality is the sixth largest industry in Indiana, according to a new report released this week by Lt. Gov. Sue Ellspermann and the Indiana Office of Tourism Development.

The industry was responsible for nearly 140,000 jobs and $10 billion in annual revenue to Indiana, the report states.

The statewide study, the first of its kind in nearly eight years, will serve as a benchmark to measure the development of the industry in the years ahead.

The study was commissioned by IOTD and conducted by Rockport Analytics, an independent market research and consulting company that specializes in economic impact and feasibility studies for the travel, tourism and hospitality industry.

In 2012 the travel, tourism and hospitality industry contributed approximately 1.5 percent of total Indiana gross domestic product (GDP), 4.8 percent of total jobs and 6.3 percent of state and local tax receipts. Super Bowl XLVI was a seminal event for Indiana and is responsible for roughly half of the industry’s 5.2 percent growth in 2012.

Key data points from the economic impact study include:

•Total Indiana tourism spending in 2012 was $10.1 billion (without Super Bowl XLVI, 2012 tourism spending reached $9.7 billion).

• In 2012 visitor spending translated to over $7.7 billion in Indiana GDP.

• Indiana tourism generated over $2.1 billion in tax receipts — $959 million in federal, $748 million in state, and $423 million in local revenues.

• Tourism paid direct wages of over $3 billion to full and part-time industry employees.

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