ECONOMIC IMPACT
ANNUAL REGIONAL ECONOMIC DEMAND OF
$5.2 Million
FOR MUSEUMS, HISTORIC SITES & INSTITUTIONS
ECONOMIC INCREASE OF $4.6 MILLION ANNUALLY
According to the 2020 Grand Forks Metropolitan Statistical Area Retail and Attractions Economic Analysis, there is a $5.2 million demand for museums, historical sites, and similar institutions within our region. Due to a lack of cultural attractions, 89% of our community leaves the region to seek out cultural entertainment, thus resulting in an economic impact loss of $4.6 million annually. With the addition of the Center for Exploration and Exploration Playground, we could lessen that gap significantly and keep this money in the region.
PROPERTY VALUE &
VISITOR SPENDING
Economic studies have found that homes located near park lands have higher values. In 2017, study by the National Recreation & Parks Association (NRPA), 85% of survey respondents seek high-quality park
and recreation amenities when they are choosing a place to live. A 2017 NRPA poll found that park and recreation amenities—such as parks, trails and relaxing places—are important to people when choosing a vacation destination.
ECONOMIC CONTRIBUTION & RETURN ON INVESTMENT
According to a research study by the Association of Children’s Museums, children’s museums contributed $5.5 billion to U.S. economic activity in 2016.
Investments made to local and regional parks not only raise the standard of living in our neighborhoods, towns and cities, but they also spark activity that can ripple throughout a state’s economy. In 2017, local park and recreation agencies across the country generated more than $166 billion in economic activity and their operations and capital spending supported more than 1.1 million jobs.
The economic impact in North Dakota resulting from local parks and recreation agencies was an economic activity (transactions) of $946,766,748, a labor income of $255,756,065, and 6,806 jobs, according to IMPLAN Center for Regional Analysis of George Mason University for the National Recreation and Park Association, U.S. Census Bureau of 2017.
QUICK FACTS
$4.6 MILLION
ECONOMIC IMPACT ANNUALLY
COMPARED TO THE NATIONAL AVERAGE
GRAND FORKS RANKS ONLY IN THE 36TH PERCENTILE IN MUSEUMS, HISTORIC SITES, & INSTITUTIONS
ANNUAL REGIONAL ECONOMIC DEMAND OF
$5.2 MILLION FOR MUSEUMS, HISTORIC SITES & INSTITUTIONS
89% OF
GRAND FORKS RESIDENTS LEAVE OUR COMMUNITY TO SEEK OUT CULTURAL ENTERTAINMENT
BENEFITS
+ Promotes lifelong learning for all
+ Increases quality of life for our region
by offering family entertainment
+ Creates a positive economic impact for
our community through regional tourism
+ Provides our regional industries an
opportunity to “tell their story” and celebrate our cultural history
+ Assists in attracting new businesses, retaining
employees, and enticing new residents
