Fort Ticonderoga, a not-for-profit educational organization and major cultural destination, announced today that it generates a total of $12.1 million annually in economic impact. The total includes visitor spending from tourists; spending by the Fort Ticonderoga Association in its daily operations; the indirect and induced impacts created by labor income as it flows into the regional economy; and tax revenue generated by that spending.
In 2016, the Fort Ticonderoga Association of Ticonderoga, NY commissioned Magellan Strategy Group to perform an economic impact study analyzing Fort Ticonderoga’s impact upon the surrounding region. The report utilized data provided by guests visiting Fort Ticonderoga utilized the highly regarded IMPLAN software. The study employed a conservative approach to measuring guest spending that evaluated only those expenditures that occurred as a result of visiting Fort Ticonderoga.
The economic impact announcement made today at Fort Ticonderoga’s Mars Education Center was celebrated by regional and state officials, as well as local and regional business leaders, regional non-profit leaders, and tourism representatives. Featured speakers at the major announcement included New York Assemblyman Dan Stec and James McKenna, President and CEO of the Regional Office of Sustainable Tourism. Also in attendance was Joe Giordano, Ticonderoga Town Supervisor; Matthew Courtright, Executive Director of the Ticonderoga Area Chamber of Commerce; Sanford W. Morhouse, Fort Ticonderoga Association Chairman of the Board; and Beth Hill, Fort Ticonderoga Association President and CEO.
“We are very fortunate to have Fort Ticonderoga within our beautiful Adirondack Park,” said Dan Stec, New York State Assembly, District 114. “Promoting significant economic development initiatives along with providing important educational opportunities to residents and visitors alike will have a long term benefit for our Adirondack Communities.”
“Our research shows that a combination of heritage and culture, and unique, authentic experiences appeal to the younger generation of traveler, and Fort Ticonderoga’s programming and expanded product offerings more than meet that criteria,” said James McKenna, president of ROOST. “Fort Ticonderoga contributes significant economic impact to the region, but more importantly, the staff and board have uniquely positioned the institution for long-term sustainability. This will catapult the region into the future, providing ever-changing experiences that cannot be replicated anywhere else in the world.”
“This report quantifies what we already know to be true,” said Beth Hill, Fort Ticonderoga President and CEO. “Fort Ticonderoga’s iconic story and mission of education and preservation translate into real and substantial economic impact confirming Fort Ticonderoga’s place in the present and more importantly, in the region’s economic future. Fort Ticonderoga is a major statewide and regional asset with transformative plans for the years ahead.”
Impact Upon Jobs:
- Visitor spending by the over 75,000 annual Fort Ticonderoga guests while in the region generates a substantial direct economic impact- over $6.7 million annually.
- Guest spending and Fort Ticonderoga’s operations support 151 regional jobs, representing $6.3 million in labor income that flows into the regional economy.
Impact Upon Tax Revenue:
- Over $2.5 million in annual tax revenue generated to federal, state and regional governments.
- $1.1 million in state and local taxes and an additional $1.4 million in federal taxes.
- The state and regional revenue reduces the annual tax burden for every local household in Essex County, NY by an estimated $73.28.
Impact Upon Tourism:
- 85% of guests say that Fort Ticonderoga is the primary reason for visiting the Ticonderoga area.
- 75% of Fort Ticonderoga’s 75,000 guests visited the area for the first time in 2016.
Impact Upon Lodging:
- 54% of Fort Ticonderoga guests spent at least one night in regional commercial lodging (hotels, motels, bed and breakfasts, rental cabins, etc.) specifically as a part of their Fort Ticonderoga visit.
- 24% of Fort Ticonderoga guests spent the night in commercial lodging in and around the town of Ticonderoga.
- Average stay by Fort Ticonderoga guests in commercial lodging on their visit is 2 nights.
- One-quarter of Fort Ticonderoga guests stayed 3 or more nights in commercial lodging.
Economic Impact of the Spending by Fort Ticonderoga Guests:
- Total spending per guest associated with a visit to Fort Ticonderoga is $89.24 including food and beverage, lodging, gas/auto, retail, and entertainment.
America’s Fort is a registered trademark of the Fort Ticonderoga Association.
Photo: Credit Carl Heilman; Copyright Fort Ticonderoga