Grand Prix boosts
local economy
Sponsor estimates 112,000 attendees and more than $17M to economy
by Clayton Woullard
The Metropolitan
After the fast-paced action of the Grand Prix race event this past weekend,
the city of Denver is estimated to be millions richer.
Brandon Borrman, spokesperson for CENTRIX Financial LLC, which worked
with Champ Car to put on the racing event, said he expects the event to
have brought in more than $17 million to the local economy, which was
the amount of money he said Mayor
Hickenlooper’s office estimated brought in during last year’s
race.
He also said the racing event was estimated to have brought in about $15
million in its first year in 2002.
A total of about 112,000 people attended the event last Friday, Saturday
and Sunday, which is more than the previous three years, Borrman said.
“It exceeded our expectations,” Borrman said. “We
were expecting probably right around 100,000 (people). I think really
it was the changes we made.”
Borrman said CENTRIX focused more on marketing the event as an urban
festival with a bevy of activities.
“We really tried to build a festival that housed this race,”
he said, “so there were lots of things for people to do besides
watching the on-track events.”
Ticket prices for the race ranged from $20 for General Admission to $110
for three-day reserve tickets and corporate suites.
Borrman said CENTRIX will be donating all of its profits from the race
to various local and national charities, which are yet to be named.
“We really look at this as a great event for the community and we
really look for it to benefit the community,” he said. “And
as a part of that we will be donating any money we make.”
According to statistics Borrman received from Mayor Hickenlooper’s
office, first year attendance was about 101,000 and only about 80,000
last year.
Nathan Oatman, an analyst in Denver’s economic development department,
said the department conducted an economic impact study of the race event
in 2002, but has no plans to conduct such a study for this year.
Borrman said the majority of the economic boost comes from more business
at local restaurants, hotels and shopping venues.
“Any event that brings thousand and thousands of people to our
city…clearly there’s an economic benefit,” said Lindy
Eichenbaum Lent, spokeswoman for the mayor. “Not to mention, the
excitement and energy it brings to residents and visitors alike.”
Jessica Jorgensen, a manager at Brooklyn’s Restaurant located next
to the Pepsi Center, said they definitely saw an increase in business,
but nothing they couldn’t handle.
“We did really well,” Jorgensen said. “I know that
we did better than last year.”
She said while it was a constant stream of customers over the weekend,
they usually have more business the day of a Colorado Avalanche game.
CENTRIX, which is based out of Centennial, hires part-time off-duty Denver
police officers for the event. Borrman said the officers did not report
any major traffic or noise problems and that they did not receive any
complaints from the community.
“The community surrounding the event has been very supportive,”
he said. “We’ve really been welcomed with open arms and we’ve
really done our best to work with the communities to make sure their issues
are addressed.”
He also said event organizers received praise from local media, fans
and racers that Denver really set a standard for racing events.
“It’s something for the city to be really proud of,”
he said. “For the city, it really is probably one of the city’s
largest events.”
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