Business Commons^™

The Economic Impact Of Artprize 2023, Christian Glupker, Paul Isely

Other Faculty Publications

ArtPrize is estimated to have generated or supported economic benefits for Kent County in the following ways:

• The total economic impact of all primary visitor spending and ArtPrize operational spending is estimated at $54.7 million in economic output supporting 434 jobs.
• 714,345 total visitors, with 53% visiting from outside the local region. The average age of all visitors was 47 years old.
• 39% of local visitors and 69% of all nonlocal visitors stated that ArtPrize was their primary reason for visiting Grand Rapids.
• All local visitors spent an average of 2.6 days at ArtPrize and all nonlocal visitors spent an …

The Economic Impact Of The Rapid City Regional Airport - Rapid City, South Dakota, Christian Glupker, Paul Isely

Other Faculty Publications

Highlights from Rapid City Regional Airport's economic impact study include:

• Support for an estimated 2,877 jobs in Pennington County.
• The airport generates $456 million in economic activity for Pennington County.
• The economic activity creates a fiscal impact of $2.2 million for Pennington County.

The Economic Impact Of The Gerald R. Ford International Airport - Grand Rapids, Michigan, Christian Glupker, Paul Isely, Gerry Simons

Other Faculty Publications

Highlights from Gerald R. Ford International Airport's economic impact study include:

• Support for an estimated 30,883 jobs in Kent County and 40,324 jobs in the 13-county West Michigan Economic Development Region.
• The airport generates $5.2 billion in economic activity for Kent County and $7.7 billion in economic activity for the 13-county West Michigan Economic Development Region.
• The economic activity creates a fiscal impact of $10.4 million for Kent County and $10.3 million for the 13-county West Michigan Economic Development Region.
• The airport has a catalytic impact on household income of $1.3 billion.

The Economic Impact Of Saginaw Bay Bass Fishing Tournaments, Christian Gluker

Other Faculty Publications

The 2023 National Professional Fishing League Tournament and the Major League Fishing Tournament are estimated to have generated or supported economic benefits for Bay County in the following ways:

• The tournaments brought 582 total visitors from 25 states.
• There were 4,141 total visitor days. These visitors spent on average seven to eight days in the Bay City area.
• Direct spending of all visitors was $815,000.
• The total economic impact of all visitors is estimated at $976,000 in economic output supporting 10 jobs.
• Visitors generated approximately $8,187 in additional tax revenue for Bay County.

The Economic Impact Of The Frederik Meijer Gardens & Sculpture Park, Christian Glupker, Paul Isely

Other Faculty Publications

SUMMARY OF ECONOMIC IMPACT

• The total annual economic impact of FMG is $138 million in economic activity, supporting 1,167 jobs, and contributing $77.6 million to Kent County’s GDP.
• The visitor direct spending, operational spending, and capital investment spending generate $353,115 in annual tax revenue for Kent County.
• There were 755,000 visitors to Frederik Meijer Gardens and Sculpture Park (FMG) with 62% of these visitors coming from outside Kent County (nonlocal visitors).
• 50% of the nonlocal visitors were visiting FMG for the first time and 48% of the local visitors visit FMG six or more times a year.
• 40% of all …

The Economic Assessment Of The White River (Michigan), Christian Glupker, Paul Isely

Other Faculty Publications

SUMMARY OF ECONOMIC IMPACT

• There were 69,543 visitors to the White River in the past year, with 35,329 visitors coming from outside the local region.
• The local primary river users visited the river 49.3 times per year and nonlocal primary river users visited the river 14.7 times per year.
• The nonlocal primary river users averaged $15.84 in spending per person, per day, resulting in $9.0 million in total direct spending.
• The nonlocal primary river users generated $8.3 million in economic output, adding $4.2 million to the local GDP, and support for 80 jobs.
• There was $75,539 in additional tax revenue …

The Economic Impact Of Bell’S Iceman Cometh Challenge 2022 Mountain Bike Race, Christian Glupker, Paul Isely

Other Faculty Publications

The 2022 Iceman Cometh Challenge mountain bike race is estimated to have generated or supported economic benefits for Grand Traverse County in the following ways:

• 16,569 total visitors, with 88% visiting from outside of Grand Traverse County. Over 36 states and four countries were represented.
• There were 38,047 total visitor days, with 95% coming from nonlocal visitors. These nonlocal visitors spent on average 2.5 days in the Traverse City area.
• Direct spending of all visitors was $4.7 million, with nonlocal visitors spending $4.5 million.
• The total economic impact of nonlocal visitors is estimated at $5.6 million in economic output supporting …

The Economic Impact Of Victoria Regional Airport (Texas), Christian Glupker, Paul Isely

Other Faculty Publications

SUMMARY OF ECONOMIC IMPACT

• A combined economic impact of $44.7 million in economic activity, generating $11.4 million in earnings and supporting 171 jobs. The total economic output includes $12.0 million in indirect and induced economic activity, with approximately 41% ($4.9 million) occurring in the city of Victoria.
• Victoria Reginal Airport's annual spending of $2.8 million generates $4.4 million in total output and supports 23 jobs. The total economic output includes $1.6 million in indirect and induced economic activity.
• Skywest Airlines and TSA operations generate $6.6 million in economic activity and supports approximately 30 jobs. The economic activity includes $2.1 million …

Economic Forecast Of Grand Rapids, Mi, Zachary Fillmore

Honors Projects

The purpose of this report is to analyze the current state of the Grand Rapids, MI economy, as well as provide a ten-year forecast of the city’s economic condition. Economic forecasting is the process of predicting the future condition of an economy using the combination of several indicators. The indicators being used for this report will include population growth, economic production, wages, industry specific production trends, unemployment rates, home values, occupancy rates, rent forecasts, education, and tourism. From intensive research and data analysis, a snapshot of the economic condition of Grand Rapids in ten years will be displayed. Additionally, several …

Investor Behavior In The Midst Of A Global Pandemic, Abigail N. Bates

Honors Projects

Investors partaking in portfolio and asset management through the stock market and other avenues do so with certain reasoning and methods in hand. Each investor may have different interests and risk tolerances that guide their choices for investment. Behavioral finance allows for an in-depth look at an investor’s actions and the influencing psychology behind it. Before this approach was popularized, early studies of finance assumed that investors were always rational in their decision making and put resources only into opportunities that would increase their utility or happiness. The behavioral finance approach takes a more comprehensive look at these behaviors and …

Economic Impact Study: Kent County Parks, Grand Valley State University, Christian Glupker

Other Faculty Publications

This study will focus on the economic impact of Kent County Parks from three perspectives:

• Spending resulting from park visitors
• Revenue generated by Kaufman Golf Course and Millennium Park beach
• Spending by Kent County Parks

Economic Impact Study: Downtown Market Grand Rapids, Grand Valley State University, Christian Glupker

Other Faculty Publications

Purpose of study This study focuses on the economic impact of the Market from four perspectives:

1. Visitors who traveled for the express purpose of visiting the Market
2. Visitors who visited the Market while already in Grand Rapids
3. Tenant activity within the Market
4. The Market’s impact on local business revenue and job creation

Looming Consumer Debt: A Comparison To The Great Recession, Andrew Jenks

Honors Projects

A look into the current outstanding debt in the United States and comparison to conditions prior to the financial crisis of 2007-2008.

The Impact Of The Seidman College Of Business Outreach Centers On The Grand Rapids Business Community, Benjamin M. Thoenes

Honors Projects

The purpose of this research was to explore the advisory role of selected Outreach Centers of the Seidman College of Business as led by their executive directors, and to examine the effects of their relationships with the Grand Rapids business community. For the basis of comparison the interviews included the director of one organization outside the Seidman College of Business. A qualitative approach in the form of a researcher-designed interview was used for the purpose of collecting data (Creswell, 2005). The interviews, conducted at each of the Outreach Center Offices, were designed to elicit important information regarding the Centers and …

The Corporate Occupation Of The Final Frontier; Emerging Market Analysis Of Spacex And The Privatized Race To Space., Nicholas Herbert

Honors Projects

This project is important to allow a full understanding of the current environment of the emerging market of space transport and travel. As we continue to move into a more technologically advanced society, we will no doubt have more contact with companies looking to profit from the race to deliver the promise of satellite space to companies all over the world in a more cost effective and powerful manner. To this end, Google and Facebook have already begun cooperation with private companies to propagate the space around our planet, and in addition, the investment and return basis of this work …

The Economic Impact Of The Huron River, Grand Valley State University, Paul Isely, Christian Glupker, Erik E. Nordman, Julie M. Cowie, Hailey Lamay

Other Faculty Publications

The Huron River and Huron River Water Trail are estimated to have the following economic impact on the five-county region in which they are located:

• $53.5M in annual economic output, which is the sum of $29.9M in direct spending and $23.6M in indirect and induced spending
• 641 local jobs added to the region
• $628M in added property value
• $150M in annual environmental value
• 2.6M visitor days

The Economic Impact Of The Frederik Meijer Gardens And Sculpture Park, Grand Valley State University, Christian Glupker, Paul Isely

Other Faculty Publications

The Frederik Meijer Gardens and Sculpture Park supports or contributes: • 804 jobs in Kent County annually

• A $75.2 million economic output annually
• Visitors from outside the county who directly spend $19.6 million at businesses around Kent County annually.
• Construction that created 39 jobs during the last year.
• 86% of the visitor spending is the result spending by individuals that do not live in Kent County.
• Nonresidents spent an average $129 per group outside the venue during their visit to Meijer Gardens while in Kent County.