Jobs and spending and tax revenue, oh my: Breaking down the RNC's $188.4 million economic impact in NE Ohio

Jobs and spending and tax revenue, oh my: Breaking down the RNC's $188.4 million economic impact in NE Ohio

DOWNTOWN CLEVELAND, OH (WOIO) - The 2016 Republican National Convention provided a more-than $188 million economic impact to the region, according to the Host Committee.

The seven-county region mentioned in a release by the committee includes Cuyahoga, Lake, Geauga, Lorain, Summit, Medina, and Erie counties.

The $188.4 million economic benefit was calculated by Tourism Economics, an event impact analysis entity that also did work on the 2012 London Olympics.

Did the 2016 RNC change people's perception of Cleveland? Definitely, maybe

Here are a few highlights from the release:

  • The jobs and labor income generated by the city’s hosting -- 1,324 FTE positions -- translated to $61.1 million in income for area residents.

  • The economic activity associated with the RNC also produced $10.2 million in state and local tax revenue for the seven-county region.

  • The 2016 RNC produced $110.1 million in direct spending in the seven-county region.

  • Hotels more than doubled their average daily rates in 2016 over 2015. Airbnb’s average nightly prices also more than doubled.

Here are the numbers from other past conventions (graph comes from Host Committee):

In contrast to the Tourism Economics estimates, Cleveland State researchers estimated the 2016 RNC produced a total economic impact of $142.2 million in that seven-county region, with $67.8 million in direct spending.

"While the different approaches and methodologies provide two different figures for the economic impact, both studies confirm what we already knew: political conventions provide platforms for long-term impact in addition to short-term financial infusions," said David Gilbert, President and CEO of the Cleveland 2016 Host Committee. "That bottom line mirrors our goals from the day Cleveland was chosen as the host city: the Convention infused revenue into our economy that wouldn't have otherwise been realized, and, more importantly, it launched Cleveland on a national and international trajectory in regard to awareness and reputation."

The economic impact of the 2016 Republican Convention in Cleveland were wide ranging and worth the up front expense, according to the statistics. The city was at the center of the political world a year ago. July 2016 was a month like none other.

Copyright 2017 WOIO. All rights reserved.