What is Bank NH Pavilion's Impact on the Local Economy?

What is Bank NH Pavilion's Impact on the Local Economy?

Bank NH Pavilion, formerly known as Meadowbrook, is one of the most popular outdoor music venues in New Hampshire. It has been hosting concerts and events for over 20 years, attracting a large number of visitors each year. But what is the impact of Bank NH Pavilion on thelocal economy? Let's take a closer look.

Boosting Tourism

One of the most significant impacts of Bank NH Pavilion on the local economy is its ability to attract tourists to the area. According to a report by the University of New Hampshire, the venue attracts approximately 200,000 visitors annually, with many coming from outside the state. These visitors spend money on food, lodging, transportation, and other goods and services, which generates revenue for local businesses.

Creating Jobs

Another important impact of Bank NH Pavilion on the local economy is its ability to create jobs. The venue employs a large number of people, including event staff, security personnel, and administrative staff. Additionally, the increasedtourismcreated by the venue leads tojob creationin other industries, such as food service and hospitality.

Generating Revenue

Bank NH Pavilion is a significant revenue generator for the local economy. In addition to ticket sales, the venue generates revenue through merchandise sales, parking fees, and concession sales. This revenue not only benefits the venue but also the local businesses that supply goods and services to the venue.

Attracting Investment

Bank NH Pavilion's impact on the local economy extends beyond its direct impact. The venue's success has attracted investment to the area, with businesses looking to capitalize on the increased tourism and economic activity. This investment can lead to the creation of new businesses and job opportunities in the area.

Investment Opportunities

For investors looking to capitalize on the impact of Bank NH Pavilion on the local economy, there are several options. Investing in local businesses that provide goods and services to the venue, such as catering or transportation companies, can be a profitable investment. Additionally, investing in real estate in the area can provide significant returns as the area continues to grow and attract investment.

Conclusion

In conclusion, Bank NH Pavilion has a significant impact on the local economy, from boosting tourism to creating jobs and generating revenue. Its success has attracted investment to the area, providing opportunities for investors. As the venue continues to grow and attract visitors, its impact on the local economy is likely to continue to increase.