Wonder

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Research Outline

Prepared for Amanda D. | Delivered February 22, 2020

Hartfound Marathon Foundation

Goals

To find the local economic (or otherwise) impact races hosted by the Hartford Marathon Foundation have.

Early Findings

  • On its about page, the Hartford Marathon Foundation (HMF) does not have any impact or financial reports that might discuss impact.
  • On its sponsorship page, HMF states it provides over 30 events a year through Connecticut, RI and western MA. It will host over 50,000 participants and at least another 100,000 spectators. However, all other information is only available upon request.
  • The most recent completed event was the Resolution Run 5K, where the Connecticut Valley Brewing Company provide a free beverage to participants. We'd have to assume the company saw significant sales from further spectators that day. There were 627 runners. Theoretically, if spectators ratio runners 2:1, that's around 1,252 spectators (roughly), for a total of 1,879 people total around. If even only 25% of them purchased a drink or extra food, at a very conservative $10/head, that's still an extra $4,697 for just that restaurant, never mind other vendors. Likely a higher ratio of people spend money and at a higher spend per head.
  • Additionally, an extra 2,000 people in one location on a weekend would see peripheral impact on local gas stations, other local cafes and eateries and possible local retail outlets.
  • We found several studies and papers that highlight the positive benefits festivals and events have on local economies.
  • One paper on the Roanoke region found a total local output of $592,404 (direct plus indirect) for its annual marathon event series. It hosted 1,844 runners and many more visitors/spectators, therefore comparable to some of HMF's events.
  • The total value added ("new wealth") to the local region was calculated to be $306,333 for just the one-day event.