Tuesday, September 12, 2017

Fort Ticonderoga Announces Annual Economic Impact Report

fort ticonderoga

The results of a 2016 study by Magellan Strategy Group, commissioned by the Fort Ticonderoga Association, analyzing Fort Ticonderoga’s impact upon the surrounding region have been released.

According to the study, the site generates a total of $12.1 million annually in economic impact. The total includes visitor spending from tourists; spending by the Fort Ticonderoga Association in its daily operations; the indirect and induced impacts created by labor income as it flows into the regional economy; and tax revenue generated by that spending.

 

The following report highlights were provided by Fort Ticonderoga:

Impact Upon Jobs:

  • Visitor spending by the over 75,000 annual Fort Ticonderoga guests while in the region generates a substantial direct economic impact- over $6.7 million annually.
  • Guest spending and Fort Ticonderoga’s operations support 151 regional jobs, representing $6.3 million in labor income that flows into the regional economy.

Impact Upon Tax Revenue:

  • Over $2.5 million in annual tax revenue generated to federal, state and regional governments.
  • $1.1 million in state and local taxes and an additional $1.4 million in federal taxes.
  • The state and regional revenue reduces the annual tax burden for every local household in Essex County, NY by an estimated $73.28.

Impact Upon Tourism:

  • 85% of guests say that Fort Ticonderoga is the primary reason for visiting the Ticonderoga area.
  • 75% of Fort Ticonderoga’s 75,000 guests visited the area for the first time in 2016.

Impact Upon Lodging:

  • 54% of Fort Ticonderoga guests spent at least one night in regional commercial lodging (hotels, motels, bed and breakfasts, rental cabins, etc.) specifically as a part of their Fort Ticonderoga visit.
  • 24% of Fort Ticonderoga guests spent the night in commercial lodging in and around the town of Ticonderoga.
  • Average stay by Fort Ticonderoga guests in commercial lodging on their visit is 2 nights.
  • One-quarter of Fort Ticonderoga guests stayed 3 or more nights in commercial lodging.

Economic Impact of the Spending by Fort Ticonderoga Guests:

  • Total spending per guest associated with a visit to Fort Ticonderoga is $89.24 including food and beverage, lodging, gas/auto, retail, and entertainment.

The full report is available here.

For more information about Fort Ticonderoga, visit their website or call (518) 585-2821. Fort Ticonderoga is located at 102 Fort Ti Road, Ticonderoga.

Photo: Fort Ticonderoga, courtesy Carl Heilman II.


Editorial Staff

Stories under the Almanack's Editorial Staff byline come from press releases and other notices. To have your news noticed here at the Almanack contact our editor John Warren at adkalmanack@gmail.com.




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