Laramie, Wyo. (March 1, 2017) -- A recent study focused on the economic impact of UW Athletics on Southeast Wyoming has been released. That study estimates the overall annual economic impact of UW Athletics on SE Wyoming at $16.7 million. The study was conducted by Roger Coupal, Professor of Agricultural Economics at the University of Wyoming, and Tim Jackson, Graduate Student in Agricultural Economics.
Among the conclusions stated in the study are as follows.
·The study’s SUMMARY states: “The overall impact of UW Athletics on the regional economy are substantial, with over 250 jobs and $16 million in economic activity. These effects are considered longterm, continuing economic growth effects of annual Athletic programs (as opposed to construction which ends when construction ends). The program is an important social center for students, alumni, visitors, and staff.” (The actual TOTAL EFFECT number indicated in Table 7 of the Impact Summary was $16,679,753.)
·The study highlights the significance of UW Athletics to the overall University: “An important part of this (University) portfolio is UW Athletics. This study focuses on Athletics as it pertains to the functional economy of SE Wyoming, i.e. Laramie and Albany Counties.”
· The study also states the important role UW Athletics plays in bringing fans, alumni, donors, high-school students and national media to Southeast Wyoming: “Athletics provides opportunities for Students and alumni to visit and enjoy sports activities, including sporting events, workshops, and club programs. The program is highly connected with regional and national interests ranging from NCAA related activities to workshops and training camps for High Schools across the state, to national communication companies, and major donors.”
·According to the study UW Athletics economic impact reaches beyond Albany County, Wyo. “It is important to acknowledge that the impacts represent changes in the functional economy of the region: Albany County and Laramie County. The impacts begin in Laramie but spread throughout the two counties. Visitor expenditures from events related to UW programs, especially Athletics, has multiplier effects in both counties.”
·The report evaluated two categories of economic flows generated from Athletics:
1. Revenues from Ticket Sales and Events, and
2. Visitor Expenditures
a. Revenues from Ticket Sales and Events: “Views the Athletics program like a business that spends funds to offer a desired public service. This spending pays for employees, contractors, and others who then spend money in the regional economy, which through the multiplier effect generate more jobs and income.”
Another economic impact that is singled out in the report is the impact UW Athletics has through a second Revenue source -- that being Summer Camp Activities that bring campers to Southeast Wyoming from both in-state and out-of-state. The report states: “The breadth of sports camps in the Athletics is notable. While many did not generate large revenues, it does suggest that the program is well integrated in High School sports training.”
An additional conclusion of the report was the importance of University of Wyoming Athletics membership in the Mountain West Conference. As stated in the report: “Of particular note is the large infusion of Conference and media revenues. These revenues generated over 65% of the revenues in this (Other Revenues) category. These revenue sources help maintain the program, both employees and support for student athletes that come here.”
b. Visitor Expenditures: The report also incorporated estimates of visitor expenditures. Per the report: “This category is distinguished from the Program revenues in that it does not flow through the University. It is flow that occurs as a result of Athletic programs but occurs in the economy itself as visitors spend money on hotels, restaurants, retail items, local transportation and fuel, etc.
“Visitor expenditures tries to capture the economic activity generated outside of Athletics activities in the broader communities around UW, including Laramie County. Albany County, the formal home of UW and UW Athletics, is part of a larger integrated economy that includes Cheyenne to the East. Albany County and Laramie County economy runs often together. Visitor expenditures from events related to UW programs, especially Athletics, has multiplier effects in both counties.”
·It is important to note that the report specifies it did not include monies spent by individuals who live in either Albany County or Laramie County, Wyo., in estimating the economic impact of UW Athletics. “We excluded customers that live in the Southeast region since that cannot be counted as an economic impact and used the remainder of estimates of visitors of UW sporting events.”
Information From Other Sources Utilized in the Study are:
·The economic impact study utilized the economic model and database developed by IMPLAN (Minnesota IMPLAN Group, 2015) and also drew from the Wyoming Travel and Tourism Reports (Dean Runyon and Associates, 2015) to estimate local expenditures.
·The database and modeling software are based upon local data but built around the national input output model managed by the US Department of Commerce. Local data from the Bureau of Economic Analysis, Bureau of Labor Statistics, Census, and Agriculture are incorporated into the model estimate local effects.
(See the complete Economic Impact study that accompanies this release)
