Published on : Saturday, November 21, 2015
The San Diego Convention Center Corporation released their Fiscal Year 2015 (FY15) Annual Report today highlighting a strong fiscal year for the operations of the facility. The center continued its long-standing record of success, maintaining its position as a top meeting facility in North America and improving upon numerous professional records. In addition to setting a recycling record and two revenue records, the facility finished with a building occupancy of 68 percent, the highest level since 2008 and far above the industry average of 48 percent.
The Corporation had a very strong FY15. The 172 events held at the facility brought San Diego significant economic benefits including an estimated $1.06 billion in regional impact from $624.7 million in direct attendee spending by over half a million out-of-town attendees. Additionally, events at the facility produced approximately $22.1 million in tax revenues for the City of San Diego. These revenues ease the burden on local taxpayers and pay for important services such as police and fire protection, the upkeep of libraries and museums and the maintenance of parks and beaches.
The San Diego Convention Center set a new food and beverage revenue record by bringing in $10.54 million. The Corporation also set a revenue record in ancillary services — a combination of advertising, audio visual, utilities, telecommunications, in-house cleaning and internet services – which brought in $13.50 million. These two revenue sources, in addition to building rent revenues, combined to set a new all-time operating revenues record for the Corporation.
FY15 marked the center’s 25th anniversary of operations after opening in November 1989. To celebrate the milestone the Corporation held a community fundraiser luncheon that raised $50,000 for the Downtown San Diego Partnership’s “Make Change Count” program, which provides assistance to the homeless population in downtown San Diego. Since opening, the center has generated more than $18 billion in regional economic impact by hosting more than 5,300 events and generated over $470 million in tax revenues for the City of San Diego.
To learn more about the San Diego Convention Center Corporation’s Fiscal Year 2015 performance — including a list of the top 10 economic generators, environmental leadership infographics and community partnership accomplishments – visit our online FY15 Annual Report.
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