Laguna Seca Accounted for $84.4 million in Direct Spending in 2018

[Yakoo752]

CSUMB Study Covered 26 Premier Event Race Days

The direct economic spending was segmented in the following categories:

Lodging – $15.05 million (48,664 room nights in Monterey County)
Food and Dining – $22.32 million
Retail and Entertainment – $39.44 million
Transportation – $7.63 million

A total of $6.5 million in county and state taxes was generated from the 26 race days. This includes $1.58 million in Transient Occupancy Tax and $4.9 in other tax proceeds. The study found that the average spending per person during the events was $690, which is higher than the County average of $497. WeatherTech Raceway Laguna Seca also attracted visitors year-round for track rental days and during the Sea Otter Classic that were not accounted for in this study.

No small chunk of change. We need more studies like this to show the realized value of a racetrack to a community.

note this is up from the last study in 2015 (Mazda Raceway Contributed $62M to Monterey County in 2015)
this now fulfills my annual quota of 1 ppy in general

 

[Mechanikrazy]

"But the noise! The noise!" - Rich folks buying properties near a known, pre-existing, loud venue.

 

[Yakoo752]

"But the noise! The noise!" - Rich folks buying properties near a known, pre-existing, loud venue.

That's why it's imperative we keep attending motorsports events to justify their financial necessity to the local government.

 

[295566]

"But the noise! The noise!" - Rich folks buying properties near a known, pre-existing, loud venue.

The rules only apply to poor people. That's how life's lived, sadly.

 

[clutchslip]

This is an excellent example of why I was so angry that the Monterey County was not willing to pay more for MotoGP and upgrade the track. Using the spending number in this study ($697) with the one day Laguna MotoGP attendance in 2012, we have 52,677 * 690 = $36,347,130. And anyone that knows anything knows that MotoGP and Formula One patrons spend even more money than other race fans.

MotoGP claims $100 million per race weekend. For Laguna, $50 to $75 million would be more realistic. Which is still a nice return on the investments necessary for one darn weekend at the track . Narrow-minded California bureaucrats may not be good for racing or wise business decisions. A long term plan for the track should have been done 10 years ago. I don't think it has really been done, even as of today.

 

[budman]

The rules only apply to poor people. That's how life's lived, sadly.

So your saying that if poor people lived there we would not have the sound restrictions and more racing!???

 

[ZimZam]

Perhaps.the racing orgs should highlight this to the politicos, and taxpayers.

 

[Whammy]

This is an excellent example of why I was so angry that the Monterey County was not willing to pay more for MotoGP and upgrade the track. Using the spending number in this study ($697) with the one day Laguna MotoGP attendance in 2012, we have 52,677 * 690 = $36,347,130. And anyone that knows anything knows that MotoGP and Formula One patrons spend even more money than other race fans.

MotoGP claims $100 million per race weekend. For Laguna, $50 to $75 million would be more realistic. Which is still a nice return on the investments necessary for one darn weekend at the track . Narrow-minded California bureaucrats may not be good for racing or wise business decisions. A long term plan for the track should have been done 10 years ago. I don't think it has really been done, even as of today.

IndyCar test this Friday:teeth...…… 20.00 admission, guess where Whammy will be?:thumbup

 

[LongGoneJohn]

So your saying that if poor people lived there we would not have the sound restrictions and more racing!???

Correct.

 

[moto-rama]

So your saying that if poor people lived there we would not have the sound restrictions and more racing!???

Interesting idea. Housing the homeless at Laguna Seca. See how the richies like that.
"Brother can you spare a track bike?"

 

[295566]

So your saying that if poor people lived there we would not have the sound restrictions and more racing!???

yep

 

[clutchslip]

IndyCar test this Friday:teeth...…… 20.00 admission, guess where Whammy will be?:thumbup

It will be nice to see Indy cars back on the track. Although, Laguna is really small for those vehicles, anymore. It appears that Weather Tech is putting in money to get more races back at Laguna. I think they also came up with the guarantee for World Superbike, because WSBK was NOT coming back for 2019. I bet the County would not guarantee payment. Maybe it is a trend. Maybe MotoGP will be back, again. I won't hold my crotch, though.

 

[Climber]

No small chunk of change. We need more studies like this to show the realized value of a racetrack to a community.

note this is up from the last study in 2015 (Mazda Raceway Contributed $62M to Monterey County in 2015)
this now fulfills my annual quota of 1 ppy in general

Monterey County is a very unique area in that they have numerous events throughout the year that attract large crowds. Any other place and they would notice the huge gain in revenue from the MotoGP event, but here it's not the huge outlier as it would be in many other places.

 

[Yakoo752]

Monterey County is a very unique area in that they have numerous events throughout the year that attract large crowds.

The study found that the average spending per person during the events was $690, which is higher than the County average of $497.

Good metric to counter with. It "could" be more profitable than most others if they could increase attendance.

The PB Pro Am I think is the biggest generator and I can't find anything close to direct revenue associated.

 

[Caddywumpus]

Ugh the Pro AM. right now traffic sucks balls all week.

Not that I notice much but these out of towners need to learn to drive!

 

[MysterYvil]

So your saying that if poor people lived there we would not have the sound restrictions and more racing!???

Prunedale, in North Monterey County, has a huge problem with a couple of properties hosting rave-type events. Insanely loud music, drunk/drugged drivers on the roads.

But because the per capita income is modest the County Supervisors and Sheriffs do jack and shit, unlike the crap they rained down on the track and range at Laguna Seca.

 

[m0t0_ryder]

Maybe a study to see how the nearby wealthy property owners/noise complainers county property tax payment totals compare to the race track income.

 

[MysterYvil]

Maybe a study to see how the nearby wealthy property owners/noise complainers county property tax payment totals compare to the race track income.

Completely irrelevant down here. All that matters is who can stuff how many dollars into a Supervisors's pocket. Mo dollaz, mo win.

 

[FXCLM5]

Lol even the cheap bastard I am spent big $$$$ at Laguna go it was always something fukn awesome......haha

 

[cencalballer]

This is an excellent example of why I was so angry that the Monterey County was not willing to pay more for MotoGP and upgrade the track. Using the spending number in this study ($697) with the one day Laguna MotoGP attendance in 2012, we have 52,677 * 690 = $36,347,130. And anyone that knows anything knows that MotoGP and Formula One patrons spend even more money than other race fans.

MotoGP claims $100 million per race weekend. For Laguna, $50 to $75 million would be more realistic. Which is still a nice return on the investments necessary for one darn weekend at the track . Narrow-minded California bureaucrats may not be good for racing or wise business decisions. A long term plan for the track should have been done 10 years ago. I don't think it has really been done, even as of today.

It's worse than that. The county who decides if they will get motogp knows that that weekend alone brings in 20 million in tax revenue. They pay 10 mil and collect in 5 days. They still said no because of a bunch of old idiots.