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Tourism means big revenue for Asheville businesses
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Tourism means big revenue for small businesses in the Asheville area. A recent study points out that Buncombe County visitors spent $1.9 billion in 2016, generating an additional $1 billion in indirect and induced spending for a total economic impact of nearly $3 billion in the community.
The Buncombe County Tourism Development Authority promotes Asheville as a visitor destination, connecting overnight guests to more than 1,200 local businesses. The impact study outlines sectors that benefit from direct spending -- food and beverage establishments received 27 percent, followed by 23 percent for retail, 22 percent for lodging and 14 percent for recreation. When business-to-business sales are considered, the biggest beneficiary was the sector that includes business services, insurance, finance and real estate with total receipts of $572 million.
On average, every dollar invested by the TDA in advertising generates $43 in local spending and $3.92 in sales and occupancy tax revenue. Nearly 27,000 jobs are sustained by tourism, and hospitality is one of only two industries in Buncombe County with wages higher than the North Carolina average. The insights were released at the ACVB National Tourism Week Summit along with a video showcasing the faces of tourism in the community. Take a look.
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Touring economic development projects
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The Economic Development Coalition, along with Asheville Chamber executives, took three of the newly-elected Buncombe County Commissioners on a tour of recent economic development projects. The tour started at RISC Networks, a high-tech IT company and home of Venture Asheville's One Million Cups program. The commissioners then had the opportunity to visit White Labs, an innovative leader which produces yeast and does lab testing for breweries. From there, the group went to GE Aviation and Linamar, both major manufacturers and on the forefront of technology in each of their fields. The tour ended at New Belgium brewery, where commissioners were taken on a behind the scenes tour and learned of New Belgium's dedication to our community and environmental protection, as well as creating good beer.
Every commissioner expressed their gratitude for the opportunity to visit each facility and were fully engaged in the processes and presentations put forward by each company. The EDC and Asheville Chamber would like to thank the commissioners for their time and attentiveness throughout the tour.
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Annual Meeting Highlights
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Thank you to everyone who joined us for the 2017 Annual Meeting - an evening of networking, recognition of business leaders and inspiration from our keynote speaker Andrew Davis.
Congratulations to this year's award winners!
• Laura Webb, Webb Investments (Volunteer of the Year)
• Tony Morris, Asheville Sun Soo Martial Arts (Small Business Leader of the Year, <15 employees)
• Jason Ray, SimplyHome (Small Business Leader of the Year, 16-50 employees)
• David Gantt, David Gantt Law Firm (Excellence in Public Service)
We will be highlighting these award winners in future newsletters. Stay tuned!
View photos from the event
Thanks to our sponsors!
The 2017 Annual Meeting was presented by SunTrust and The Van Winkle Law Firm. Additional sponsors were: Duke Energy, Omni Grove Park Inn, Diamond Brand Gear, Mission Health, PSAV, Johnson Price Sprikle, Asheville Savings Bank, WLOS, ERC Broadband, Citizen-Times, BCTDA, TD Bank, Roberts & Stevens, HomeTrust Bank, the828.com, Allegra Asheville, AT&T North Carolina,First Bank, Carolina Alliance Bank, Assured Partners, Virtelle Hospitality, MedCost, Biltmore, Amplified Media, Blue Ridge Public Radio, WNCW, Snow Creek Landscaping, Highland Brewing Company, Catawba Brewing Company, Wicked Weed Brewing, Kaylynne's Florist, FASTSIGNS.
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| | "Almost June" Business After Hours
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5:30-7:00 p.m. | Clarion Inn Asheville Airport, 550 Airport Rd., Fletcher | Details
We want you (and us) to be well rested and ready for the Chamber Challenge on June 2nd. That's why Business After Hours will be held May 25th instead of its usual first Thursday. So mark your calendars and meet us there!
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| | Chamber Challenge 5k Race
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| | Ribbon Cutting for The Blackbird Restaurant
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11:00-11:30 a.m. | 47 Biltmore Ave., Asheville, NC 28801 | Details
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| | Spring 2017 Open House & Orientation
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| | Ribbon Cutting for Saran Pilates
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4:00 p.m. | 5 Miller Rd. South, Suite 1, Asheville, NC 28803 | Details
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| | WomanUP - Success Redefined!
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