Every January, Barrett-Jackson Auction Co. holds one of the
world’s largest collector-car auctions in Phoenix’s Scottsdale. According to a
study that was released Tuesday, more than $167 million will flow back into the
economy, including $10 million in tax revenue!
Elliot D. Pollack & Co., a consulting firm in
Scottsdale, was nominated by both the city and Barret-Jackson to calculate the
economic-impact analysis for the auction; costing approximately $9,500, the
report was the first of its kind in more than a decade.
Several tourists from all 50 states and at least 15
countries showed up at the weeklong auction from January 23-31 spending $70
million on local hotels and restaurants. An additional $61 million was roundup
up at the auction itself, summing to a total economic impact of $131 million!
The Pollack Study also included Barrett-Jackson’s annual
operational income (only at its Scottsdale Headquarters) which incorporates the
construction of a 41,000 square-foot showroom in the Valley for non-auction
sales.
All-inclusive, Barrett-Jackson Auction Co., according to the
study conducted by Elliot D. Pollack & Co., is responsible for more than
1,400 jobs in tourism, construction and operations as well as supplying an
economic impact of $167.8 million in 2016.
Click Here to read the full article
No comments:
Post a Comment