Powerball lottery fee

For the first time since the Iowa County State Fair began, the fair sold advance tickets this year through Iowa Powerball Lottery terminals, which added a $1 “convenience fee” on top of the $7  fee for advance adult admission.  The base for sales from about 235 outlets to 2,000 across the state, the state receives about 40 cents of each dollar spent in the advance sales. About  60% of people form the fair come from central Iowa, with the rest hailing from 47 states and a smattering of other countries.  This 40 cents per dollar from the advance sales will be eventually spent/ spread through the community helping the economy.

http://archive.news.iastate.edu/news/2009/jul/statefair

Total Impact

The combined impact of the Iowa Fair by expenses by the attendees is $877,048. This money leads to the creation of 12.5 jobs within Iowa County. The indirect spending is not big as it seems but, this is to be expected because large portion of the money is “leaked” out of Iowa County. With the injection of more than $877,048 into the economy, businesses in the Iowa County are directly benefited. The areas of Iowa County that are most positively affected are grocery stores, local restaurants and other local organizations that set up food stands and services at the fair.

http://iowa.uwex.edu/files/2012/08/Iowa-County-Fair-Impact-Study.pdf

Animals at the fair

Animal auctions at the fair play a huge role in the economy. The Iowa County Fair generated $194,555 during the "rest” few days of the fair. The important thing is that this impact is not realized at the given weekend of the fair; the animals take time to raise, feed and tend. So if the fair auction did not exist, these animals might not be raised and sold. The impact is unique to each year and wholly realize in that year on a county level. The total industry sale impact is $194,555; the total number of jobs created by the livestock auction is 4.2 and the total labor income is $42,215.

 
 
 

http://iowa.uwex.edu/files/2012/08/Iowa-County-Fair-Impact-Study.pdf

Employment Income

The “Iowa Fair Expenses Employment Multiplier” is 1.23 (2.7/2.2), which means that for every job created by the expenses of the Iowa County Fair, 0.23 jobs will be created within the Iowa County economy. The income from these jobs gives the “Iowa County Fair Expense Employment Income Multiplier” a value of 1.63 (47,659/29,178). This means that for every dollar spent on employment income, and additional $0.63 will be spent throughout the economy on employment income. The economy is impacted by the employment income as it is increased due to the fair. If this number increases it would help generate more money in the community and impact the economy as a whole.

http://iowa.uwex.edu/files/2012/08/Iowa-County-Fair-Impact-Study.pdf

Industry sales/ Fairs expenses

Another economic impact is caused by expenses that the fair paid, like entertainment, labor services, and insurance. The impact caused by the expenses of the fair is measured across industry sales, job creation and employment income. Iowa Fair expenses bring an economic impact of $243,131 in industry sales; an d creates 2.7 jobs with providing $65,271 toward employment income. Every dollar spent by the Iowa County Fair, $0.29 will be generated within Iowa County. With the money generated within Iowa County it will help small businesses and other locals within the community. This will help industries around the community and generate more money.

http://iowa.uwex.edu/files/2012/08/Iowa-County-Fair-Impact-Study.pdf

Employment impact

 

New jobs are created just because the jobs at the Iowa County State Fair. Every job created by attendees of the fair, there will be 0.8 additional jobs will be created. The income multiplier created by the attendees of the Iowa County Fair is 1.25, implying that for every dollar of labor income earned by employees of the fair; an additional $0.25 of labor income is earned in the community. So not only is the fair creating employment for work inside and outside the fair, but also affecting the labor income in the community. The additional work created will bring up the unemployment rate and help the economy flourish.

http://iowa.uwex.edu/files/2012/08/Iowa-County-Fair-Impact-Study.pdf

Sales, Jobs and employment income

The economic impact of the Iowa Fair is measured across industry sales, job creation and employment income. People who go to the fair contribute $439,362 in industry sales in the local economy and create 7.7 full-time jobs with total labor income of $135,773. This gives the Iowa Fair an industry sales multiplier” of 1.25 ($439,362/$352,862), which suggest that for every dollar of sales at the fair, and additional $0.25 of economic activity will be generated in Iowa County. This will help out the economy because of the new jobs that have been created and the money from industry sales.

http://iowa.uwex.edu/files/2012/08/Iowa-County-Fair-Impact-Study.pdf