Economic Impact of Michigan Tourism

Summary

A Great Lakes Sports Commission (GLSC) handout on the economic impact of Michigan tourism and a proposal for the Northern Michigan Tourism and Sports Fund. It states that in 2018 Northern Michigan's tourism industry had an economic impact of $4 billion and that, post COVID-19, the industry is expected to lose $2 billion in contributions to the state's economy. The GLSC proposes to invest $30 million into the fund through an investment from Michigan's Recreational Passport Program and to seek matching contributions. It describes a match-grant project for the Great Lakes Equestrian Festival and the Pine Mountain project, projected to contribute $16 million to Michigan's economy.

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Economic Impact of Michigan Tourism

2018 Projected

2020 Post-
COVID-19

rate, April 2020. This
ercentage rate is the
ighest since 1976.’

2018: Northern Michigan's tourism industry
had an economic impact of $4 billion.

2020 Post COVID-19: Northern Michigan's
tourism industry is expected to lose
$2 billion in contributions
to the state's economy.
in sales in just

NE April 2020 alone.?
SAE

On average, 2.5 people travel with each

athlete to competitions, showcasing the
value of sports tourism to communities.”

Michigan's restaurants
are projected to lose
more than

$1.2 billion

22.17%

Michigan's unemployment

oO Counties with top nationwide
record-high unemployment

percentages in April 2020.4

| Counties with top statewide
unemployment percentages
in April 2079,

oO Counties with top statewide
unemployment percentages
in April 2019 and nationwide
record-high unemployment
percentages in April 2020.

59% of total
hotel-supported jobs in
Michigan have been lost
due to COVID-19.'

=

In Michigan, outdoor &

Northern Michigan's
tourism industry
supports the
employment of

50,000

Michiganders.®

annually generates $26.6 billion
in consumer spending.®

According to a study conducted by
Huddle Up group, 80% of survey
respondents reported that they
would feel safe allowing
athletes to participate in sports
again by Labor Day.? Northern
Michigan's recreation, sporting,
and tourism events are naturally
a good fit for the challenges of
today because they lend themselves to
a safe environment witha
focus on outdoor recreation.
Our Mission: The Great Lakes Sports Commission (GLSC) is a non-profit organization dedicated
to promoting Michigan as a premier destination for recreation, sports, and tourism.

Our Vision: The GLSC builds on the natural energy and attraction of sport and recreation to
strengthen the economic vitality, health, and quality of life in Michigan communities. We hope to grow
the Northern Michigan Tourism and Sports Fund into a sustainable loan and grant fund to assist infra-
structure and events that will impact the entire state. We strive to create global attention, economic
growth, talent attraction, and improved quality of life in our great state.

Our Goal: To build a sustainable funding source for the GLSC’s revolving loan fund that directly
supports Northern Michigan's tourism and sports industries. Following the events of the coronavirus
pandemic, the GLSC is fully invested in helping to strengthen the economy of our state by making
Northern Michigan a premier destination for world-class recreation, sports, and tourism.

Our Proposal: To invest $30 million into the Northern Michigan Tourism and Sports Fund through

a modest investment from Michigan's Recreational Passport Program, which will ensure the integrity
of the program, and also to seek matching contributions from current and future projects.

A Strategic Investment For Michigan

* Supports community revitalization * Aids hard-hit tourism industry following
state shut down
* Enhances Michigan's brand
* Expands Michigan's economy
* Increases fund availability for future projects
* Rebuilds the $2 billion loss to Northern
+ Attracts visitors and investors to the region Michigan's tourism industry

2 |

GLSC 2020 [Investments in Michigan ree:

Since it's inception in 2019, the GLSC has already 4
underwritten two significant projects: —— ; |

Become part of

Se A contribution to a match-
grant project for the Great
Lakes Equestrian Festival
that has the potential to
SS af bring $124 million to

Michigan's
recovery plan!

The Pine Mountain project
fF was approved by GLSC

Bs board members in early GREAT LAKES
s+ 2020 and is projected to
8 contribute $16 million to SPORTS
Michigan's economy. COMMISSION

www.greatlakessportscommission.org


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