Republican National Convention Generated $170 Million, Says Study

The 2008 Republican National Convention, held in Saint Paul and Minneapolis last year, generated nearly $170 million in new money for the local economy, exceeding original projections for the event.

The results were announced on the one-year anniversary of the Convention by the Minneapolis Saint Paul 2008 Host Committee.

The study found that the 2008 Republican National Convention generated a total direct economic impact of more than $153 million and an indirect impact of more than $15 million for the Minneapolis Saint Paul area. The combined direct and indirect economic impact was more than $168 million.

Major new revenue was generated through security, hotels and accommodations, retail and services, Host Committee activities and the Convention complex. In addition, significant money was collected through income, sales, lodging, entertainment and gas taxes. Other significant impacts included technology and telecommunications, transportation, Convention production and entertainment.

In addition, the Host Committee raised enough money to fund the Convention (nearly $60 million was needed), and it ended the fundraising process with a surplus of nearly $7 million, which will be divided and donated to the Saint Paul Foundation, the Minneapolis Foundation and the Minnesota Community Foundation. This is the largest surplus ever donated by a Convention Host Committee.

The 2008 Republican National Convention, held September 1-4, 2008, brought 45,000 visitors, including thousands of media outlets, to the Minneapolis Saint Paul area.

Some other findings of the study:

● 12,000 hotel rooms were booked in 100 hotels in Minneapolis, Saint Paul, Bloomington and the surrounding suburbs.
● 300 hospitality events were held at venues around the Minneapolis Saint Paul area
● More than 10,000 guests including national and international media attended the Media Party held on the Mississippi Riverfront between the Guthrie Theater and the Mill City Museum
● Minneapolis Saint Paul successfully managed a massive transportation system that included moving 350 buses between the two cities, changing traffic patterns around the Xcel Energy Center, creating a new I-35 off-ramp for buses, cutting curbs, moving traffic islands and relocating and transporting thousands of parkers in downtown Saint Paul.

The economic feasibility study was compiled by Dave Brennan, University of St. Thomas Professor and co-director of the Institute for Retailing Excellence. The direct economic impact was determined using data provided by the Minneapolis Saint Paul 2008 Host Committee, various state and other organizations including the cities of Saint Paul and Minneapolis, the convention bureaus of both cities, the University of Minnesota's Center for Tourism, the State Departments of Employment and Economic Development and the Department of Revenue as well as the Metropolitan Council and Metropolitan Airports Commission, a number of retailers and cultural venues and the consultant's estimations.