NASC Releases New Economic Impact Tool

The National Association of Sports Commissions unveiled a new economic impact calculator to help its members. Sportsimpacts, a market research company specializing in analytics, originally created a calculator in 2007. The new model uses data from a recent Sportsimpacts study that surveyed more than 50 events from the last decade from various markets and of various sizes to look at how sports events contribute to the local economies of their host cities. The calculator also factored in results from another study, the 2011-2012 Consumer Spending study performed by the University of Arizona Sports Management program, which analyzed daily visitor spending trends at 30 events of various size and markets. "Our goal with the Economic Impact Calculator is to simplify the process of estimating the economic value of an event and its return on investment," says Don Schumacher, executive director of NASC. "The improvements made to the calculator are based on extensive research to offer accurate results and ease of use." The new calculator allows planners to gather real-time data from attendees and lets the planners choose between an itemized spending list or an aggregate approach, which is broader in nature. The calculator is free for NASC members and became available Monday.