Tourism Spending Saves Taxpayers
FRANKLIN, Tenn., May 26 /PRNewswire-USNewswire/ — Tennessee’s second largest industry, Tourism, has a tangible impact on Williamson County according to the latest “fact sheet” compiled by Dr. Steve Morse, Director and Economist for the Tourism Institute at the University of Tennessee Knoxville. According to the report, which analyzes 2007 visitor spending in Tennessee, tourists spent an average $687,890 per day on hotels, transportation, restaurants, retail, recreation and entertainment in Williamson County. (Source: [1], [2])
“Williamson County is one of Tennessee’s top ten destinations for travel related spending,” said Judy Hayes, Chair of the Williamson County Convention & Visitors Bureau. “Tourism is a powerful economic engine. However, the real benefit of tourism is how much our citizens save each year in taxes, thanks to these visitors.”
As a result of local tourist spending, each Williamson County household pays $322 less in local and state taxes. (Source: [2], [3]) Overall visitor spending was up 7.3% from 2006. Travel related spending in 2007 generated over $251 million and produced over $44 million in worker income and paychecks in Williamson County. (Source: [1])
Williamson County has more than 3,200 hotel rooms and a few hundred more on the way. In addition to sales tax revenue from visitor spending, an additional $5.2 million in lodging taxes was collected in Williamson County, Franklin, Brentwood and Fairview in 2007. According to Mark Shore, Executive Director of the WCCVB, “A small percentage of those dollars are re-invested in the work of the Convention & Visitors Bureau each year to keep Williamson County tourism strong, healthy and growing. Tourism is critical to our community’s economic vitality.”
The Williamson County Convention & Visitors Bureau (WCCVB) is the official destination marketing organization for Williamson County and the City of Franklin Tennessee, located “100 Years” and a few miles south of Nashville. The WCCVB promotes the Williamson County area, city of Franklin and local tourism assets to visitors across the state, the U.S. and worldwide. For additional information on exciting activities in Franklin and Williamson County, contact the WCCVB by phone 615.791.7554, fax 615.550.2707, toll free 866.253.9207, on the web at www.VisitWilliamson.com or by mail 108 4th Avenue South, Suite 203, Franklin, TN, 37064.
Williamson County Tourism Fact Sheet
Daily 2007 tourist activity in the county
* On an average day in the county, tourists spent $687,890.
Source: [1], [2]
Yearly 2007 tourist activity in the county
* Generated $251.08 million in direct tourist spending
* Produced $44.84 million in worker income & paychecks
* Created $5.09 million in local county tax revenues
* Created $14.70 million in State tax revenue
* Generated 2,250 jobs
Source: [1]
2007 Tourism tax impacts on county households
As a result of taxes generated by tourist activity in the county:
* Each household pays $322 less in local and state taxes
* Each household pays $83 less in local county taxes
* Each household pays $239 less in state taxes
* Source: [2], [3]
Sources
[1] TN Dept. of Tourist Development; “The Economic Impact of Travel on Tennessee Counties” (2001-07) Nashville, TN; Web: www.tnvacation.com
[2] Tourism Institute, University of Tennessee – Knoxville; Dr. Steve Morse; Web: www.utk.edu/tourism
[3] U.S. Census Bureau; State and County Quick Facts; http://www.census.gov
SOURCE Williamson County Convention & Visitors Bureau
