The Albany Convention Center Authority has released its latest findings on the economic impact of events hosted at the Albany Capital Center (ACC) in New York, illustrating its track record of achievement and its tangible positive effects on the local economy.
Key takeaways from the report include:
- 928 events hosted since the ACC’s opening in March of 2017
- Total spending generated by ACC events exceeded $77 million
- More than $8 million in sales tax generated
- More than $4 million in New York State sales tax generated
- More than $4.5 million in Albany County sales tax generated
Business is returning to The Albany Capital Center following the challenges posed by the pandemic, as evidenced by greater numbers of attendees, its strong employee base, its volume of events and increased revenue generation. The tourism and events industry is a critical part of Albany’s economic development and catalyzes job creation, local business growth, infrastructure development, cultural preservation and expansion of the local tax base.
Additionally, the organization shared its impressive commitment to equal opportunity employment, reporting a combined 58 percent participation of women and minorities in its skilled and dedicated workforce.
The Albany Convention Center Authority “is committed to the belief that hospitality is a catalyst for economic growth,” said Michele Venard, board chair for the ACCA. “As a deeply invested partner in the Albany region’s economic prosperity, we recognize that the economic development stemming from the hospitality and events industry directly contributes to the tangible well-being of local businesses and the livelihoods of those who rely on them – an advantage that extends to all.”
Shannon Licygiewicz, general manager of the Albany Capital Center and a Certified Exhibition Management professional added, “Since we opened our doors [in 2017], it has become clear that the ACC fills a pivotal role in our community and makes critical contributions to Albany’s economic development. I am extremely proud of the hard work done, the challenges of recent years that have been overcome and the team that has made it all possible. It is a great privilege for me to lead this talented team into a new era, where we will continue to deliver events that captivate our attendees and provide high-quality facility management services from ASM Global that consistently surpass expectations.”
To view the report, please visit this link.