For a while now, supporters of the Hippodrome and Skyplex and the entertainment concept we successfully brought to Downtown Springfield have encouraged me to get the word out about the economic impact of these venues for Greater Springfield.
When I finally sat down and took a look at the last eight years of events and concerts, from Three Doors Down, Godsmack,and The Black Crows to Cirque de Soliel acts and Charity Boxing matches, I was amazed to realize that Hippodrome and Skyplex have pumped more than $22 million directly into the area’s economy.
The photos of our restoration of the Paramount and metamorphosis into The Hippodrome from previous blog posts are worth a million words.
Until we launched our vision of what entertainment in Downtown could be, the original Paramount Theatre was boarded up and closed. The stage had been dark for years and the facility was producing and contributing nothing; no taxes, no jobs, no unique entertainment niche in The Valley.
Some recent news reports about back taxes owed on the Hippodrome have created some speculation about the future.
Soon, those taxes will be paid, like the millions we have paid since we re-opened the Paramount’s shuttered doors and created The Hippodrome. In fact, the current tax bill is significantly less than the outstanding tax bill we inherited and paid in full when we first re-opened the facility.
Watch this space closely over the next few weeks and months for exciting news about our plans and how we hope to again be a catalyst for a revolutionary Downtown revitalization.
Recap of activity for the years Years 1999-2009
Total amount paid for police details by rain/skyplex and hippodrome
$ 1,093,000
Total expense incurred by rain/skyplex, hippodrome
and paramount realty for real estate taxes, permits & fees
Payable to City of Springfield
1,019,000
Payroll wages paid excluding ownership for rain/skyplex
and hippodrome
$ 5,600,000
Amount locally spent on construction trades including
painting and restoration of skyplex and hippodrome
$ 4,375,000
Rain/skyplex expenditures pumped back into economy
$ 8,200,000
Hippodrome expenditures pumped back into economy
$ 14,152,000
Total dollars skyplex/rain and hippodrome spent back into economy
$ 23,352,000
Benefit to local economy generated from purchases of meals,
hotel rooms, parking, gas etc. by skyplex/rain and hippodrome
customers while visiting downtown springfield
20 to 40 million dollars
Number of patrons of skyplex/rain and hippodrome
more than 2 million
Number of license violations from day one at both entertainment venues combined
Zero (0)
