1. Brevard County Fairgrounds
EXECUTIVE SUMMARY
The fairgrounds complex is a relevant and important asset for Brevard
County and can become a more productive asset if the fairgrounds were
moved to a larger site. The two key issues facing the Brevard County are
the small size of the land holdings for the fairgrounds and the need for an
equestrian facility.
Analysis of the information and statistics provided by the various fairs and
interviews with industry experts revealed no single formula for success.
Yet a pattern of success by comparable facilities that have evolved over
the last one hundred or more years reveals several maxims to note:
. Most fairgrounds are structured so that revenues meet expenses on an
annual basis, which motivates those responsible to be creative in
generating income and limiting expenses. Each successful fairground
leverages its location, local economic strengths, and facilities to maximize
usage and generate revenues.
Increasingly, successful fairgrounds operations market themselves as if
they were a for-profit business with advertisements during phone hold
time, helpful and easy-to-find Web sites, marketing materials, and a full-
time marketing manager on staff.
Successful fairgrounds embrace a broader mission that includes not only
4-H and County Extension Service, but also commercial, social, and civic
interests, such as family programming and hosting of corporate,
community, and social events. Any effort to implement these four maxims
will have a positive effect on the usage, management, operation, income,
and public perception of the fairgrounds.
If the expanded fairgrounds with a year-round equestrian facility cannot be
built all at once, it is possible to complete the project in two phases. Phase
I includes a sale arena, exhibit hall, livestock stalls, and other ancillary.
Phase II will add the recommended large, covered arena.
Under Phase I, the new fairgrounds are projected to have an operating
income of approximately $131,000 in Year 1, with a total of 97 events. The
2. fairgrounds are projected to do very well with the incorporation of
equestrian events. When Phase II is completed, the facility is expected to
have an operating income of approximately $504,000 in Year 1 with 111
events. The actual number of events will depend on how well
management markets the new or expanded facility. Demand exists in
Florida, but management will have to go after large events such as Paint
Horse Shows, Quarter Horse Shows, and etc. which bring approximately
5,000 people for the event.
Economic and fiscal impact numbers are based off the fifth year of
operation. The economic impact created by Phase I will be $45.2 million
with a fiscal impact of $2.8 million. With Phase II completed, the economic
impact will be $62.6 million and the fiscal impact will be $4 million.
Thank you for your consideration in this matter.
Don A. Bogard