We will have to wait until the City of Sioux Falls June finance report comes out before we know the actual impact of the Soccer tournament to the sales tax rolls. The ‘CLAIM’ by the organizers and CVB is a $17 million dollar impact which boils down to about $480,000 for the city tax rolls (this is counting the 1st, 2nd and 3rd Penny entertainment tax BUT not the state’s 2 penny cut) which would be a $160K bump to each penny that we would not have normally seen the year before. Since the numbers have been running a little flat to under what it was last year, this bump should be noticeable.
As I have also argued the city probably kicked in about $20-40K in resources to help support the tournament in traffic control and park maintenance.
We’ll see if the $17 million dollar guestimate holds any water really soon.
The estimate is a fairy tale. There’s no reason to expect more revenue from last year. The city has been looking for anything to overestimate but the hole dug by Huether will take solid gold shovels to fill.