How Cities can recoup money post COVID-19

States are decimated and cities, well they are even worse off.  With the Federal Government super-gluing large heavy chains to the money, they will give States, many cities are looking for ways to make up their shortfalls.  If cities want to regain their lost revenues and fill up the coffers quickly, there really is only one way to do it.  Tourism.

Tourism is the answer

Yes, tourism.  Not that every city needs to become the epicenter for great vacations, but tourism can revive a local economy quickly, supporting local businesses and bringing in sales tax and transient occupancy tax.  But before tourism can truly work, cities are going to have to prepare for their guests.

The largest climbing wall in the world

Denmark is going to host this massive climbing wall.  Very cool.  Bungee jumping, climbing and other super cool building features like this draw visitors and tax dollars.

The CopenHill facility in Denmark is now home to the world's tallest climbing wall
The CopenHill facility in Denmark is now home to the world’s tallest climbing wall
Walltopia

https://newatlas.com/architecture/worlds-tallest-climbing-wall-copenhill/

 

Mount Rushmore

Mount Rushmore is a case study in tourism.  Almost 3 million people a year go to the Black Hills to look at the carved masterpiece.  Prior to 1925, the town was looking for ways to increase revenues.  So, they turned to tourism and created an extremely large attraction.  The result was a destination not only for history books, but people all around the world.

As of July 6th, 2020 the idea of Mount Rushmore is controversial, but still drawing in lots of visitors.

More Case Studies

Case studies abound.  Here are just a few more examples:

The Hollywood Sign

“The Hollywood sign, which debuted as Hollywoodland in 1923 to advertise a real estate development, was rebuilt in 1978 to mark the iconic industry that makes Los Angeles a company town, even today.”

Christ the Redeemer, Rio de Janeiro

“Erected by a multinational team of engineers from 1922 to 1931, this art deco statue of Christ with arms outstretched watches over Brazil – and the world’s Christians – from the peak of Corcovado Mountain. At nearly two-thirds the size of the Statue of Liberty, the white soapstone and concrete work designed by Paul Landowski can be seen for miles and was selected as one of the New Seven Wonders of the World.”

Not all attractions have to be large in scale

I grew up in St. Louis home of the Cardinals and  Ted Drew’s.  Ted Drew’s is a world-famous frozen custard stand serving up some of the best custard in the world.  Drawing millions of people each summer for their tasty custard.  Pink’s in LA is another great attraction. People come far and wide to taste their delicious hot dogs.  Julian, CA is known for apple pies (if you haven’t gone, go now they are soooo tasty).

What will you help build?

Options are plentiful.  While your City may not want to be overrun with tourists, helping businesses in your area will bring in revenues that increase sales tax.  Each weekend, my family and I go hiking in areas like La Canada Flintridge.  After hiking, we always stop by a local restaurant and fill our bellies.  Sometimes, we fill our gas tank, and other times we stroll around and do a bit of shopping.  While this doesn’t seem like much, multiply this by 30 times a year, and by thousands of people, it adds up quickly.

Build something more impressive and sales tax and TOT tax will rise impressively also.  Cool art installations, great food, easy parking, late-night hours of operation, friendly walking paths all make for increases in revenues.

Will there be guests?

Certainly, there will be guests.  Lots of guests. People are itching to get out.  After being stuck inside for months they want out.  They need a place to go to.  Newport Beach saw record numbers of beachgoers as they opened their beach over the weekend prior to the rest of LA County opening?  People will come and they will spend their money.

How to build your field of dreams

Building something isn’t easy, but with the right team, you can accomplish great things.  Focus groups and research will give you a good insight into what makes your community shine.  Work with local businesses to determine what they need to please customers.  Work with your local nature lovers to see how trails can become a destination for people all around.  Hikinggirlwithdog is on our staff to help you with trail design and other nature-loving designs.

Hope you enjoyed this article.  If you need more personalized assistance, you can work directly with us.  Reach out here. http://wilmes.co/contact-wilmes-risk-control/

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