You work for the Florida Sports Foundation, a 501(C) 3 non-profit corporation and a Division of Enterprise Florida Inc. The Florida Sports Foundation promotes and develops Florida's sport industry. One of its roles is to provide grants to support sporting events that bring out-of-state visitors to Florida. It is funded by Florida taxpayers.

In 2019, the Foundation awarded $20,000 to Broward County to host an international T20 cricket match between the West Indies and India. The match was held in Central Broward Regional Park and Stadium, a facility built purposefully to host cricket matches. Use the following information to calculate the total economic impact of the T20 cricket match. Total attendance: 12,500 Information from event survey: 82% of attendees came from outside of Broward County 37% of attendees came from outside of Florida 8% of attendees came from outside the United States 13% of visitors would have visited the area at another time if the event was not held 7% of visitors were in the area for a reason other than attending the event Visitors stayed in the area for an average of 3.2 days Visitors stayed in the area for an average of 2.1 nights Average daily spending was $196 Average nightly spending on lodging was $105 Information from other sources: The International Cricket Council and its sponsors spent $15,000 in Florida that they would not have spent otherwise Multiplier: 1.42

QUESTION

Imagine a different scenario where you are working for Broward County and wanted to know about the impact of the purpose-built cricket stadium to the county. Broward County paid $70,000,000 to construct the park including $10,000,000 for the stadium and it has continual costs to operate the stadium. How would your calculation of economic impact for the event change if you were working for Broward County? Do not calculate the total economic impact; instead, you must refer to principles of economic impact analysis reviewed in this topic and explain what would change in the calculations and what kind of information is missing to conduct this economic impact analysis.