$158.4 Million in New Tax Revenue Flows to City, State
The New Orleans Ernest N. Morial Convention Center’s operations and activities produced $158.4 million in new tax revenue and $2 billion in total economic impact on the Metro New Orleans area last year.
The 2016 Economic Impact Analysis, prepared by the University of New Orleans (UNO) Division of Business and Economic Research, showed that the Center hosted 128 events last year that attracted 616,234 out-of-town visitors. Visitor and event spending, along with the Center’s operations, produced the statewide impact of $2 billion, which breaks down as $1.1 billion in direct spending and $873.1 million in secondary spending.
Included in those totals are $158.4 million in new tax revenues for the State of Louisiana and local government bodies–$94.1 million of this revenue was collected by the State of Louisiana and $64.3 million was collected by local government bodies, specifically the City of New Orleans, the Orleans Parish School Board and the Regional Transit Authority.
In addition, 19,734 jobs in the local economy were supported by the activities of the New Orleans Ernest N. Morial Convention Center last year, creating $611.4 million in income for local area residents.
“These impressive figures show that the Convention Center is a main driver of Louisiana’s economy, contributing millions each year to local governments, with a return of $60 for every dollar invested,” said Melvin Rodrigue, President of the Ernest N. Morial New Orleans Exhibition Hall Authority, the Convention Center’s governing board.
Over the 31-year period of the Center’s operations, 2,835 major conventions and trade shows have been held at the New Orleans Ernest N. Morial Convention Center that have brought 16.5 million registered delegates, guests, and exhibitors to the New Orleans area.
Most importantly, these events have created new spending of $81.7 billion, including $5.1 billion in new tax revenues. Of that total, $2.9 billion was in new State tax revenue and $2.2 billion in new local tax revenue.
About the New Orleans Ernest N. Morial Convention Center
With 1.1 million square feet of contiguous exhibit space, an award winning staff and first class amenities, the New Orleans Ernest N. Morial Convention Center (MCCNO) is the sixth largest convention center in the nation, a consistent Top 10 host of the largest number of conventions and tradeshows annually, and one of the city’s “Top Workplaces.” A leading rainmaker of the city’s hospitality industry, MCCNO event activity has produced $81.7 billion in economic impact since its 1985 opening, including $5.1 billion in new tax revenue for state and local governments.