Whether you think the 2012 Republican National Convention in Tampa is a good or bad thing for the area, it’s hard to deny how good a $154 million bonus sounds for our burgeoning city. This is how much commercial real estate outfit Jones Lang LaSalle predicts the Tampa Bay area will net when the dust settles after the 2012 RNC.
According to Jones Lang LaSalle’s Tampa-based research team, most of the economic impact will come at the hand of the of the 2012 Tampa Bay Host Committee, an organizing group expected to inject as much as $55 million into the Tampa Bay economy through hosting the convention and a handful of surrounding festivities in Downtown Tampa.
In addition, the team projects that Republican National Convention-related visitors will supplement with an additional, outside $85 million spent during the event’s 4-day run in Tampa.
During August, a notoriously slow month for Tampa Bay’s tourism and hospitality sectors, this boost will be a much-welcomed change for entities like the Tampa International Airport and various hotels throughout the area.
Jones Lang LaSalle’s findings aren’t all totally positive, though. Their report warns that a lack of existing spending in the area, most attributed to office employees working in the Downtown Tampa area, could be a detriment to the local economy. Many of these employees are expected to avoid the Downtown areas that surround the convention at the Tampa Bay Times Forum due to increased traffic and security restrictions. If true, this collective avoidance could cut down on the projected $154 million.
How do you feel about the 2012 Republican National Convention‘s economic impact on the Tampa Bay area? Let us know in the comments section below.