We all know that The Houston Livestock Show and Rodeo is bullish for the Houston economy. Sorry, it just came to me. So the HLSR just released an economic impact study prepped by Barton Smith, Ph.D., Professor of Economics, Emeritus, University of Houston to make sure we know the rodeo is now clowning around.
Here is what happened when all of the numbers were corralled:
* Annual aggregate gross sales are increased by $475,403,000.
* Annual gross regional product is increased by $320,221,000.
* Annual personal incomes are raised by $290,710,000.
* 7,265 full-time equivalent jobs are created.
* The local population is increased by 16,316 people.
* Residential capital is changed by $361,877,000.
* Non-residential capital is changed by $420,125,000.
* The annual fiscal dividend (tax revenues) to local government is increased by $27,344,000.
Expanded over the life of the Show's current 30-year lease at Reliant Park, the increase in government revenue is estimated by the Show staff to exceed $820,000,000.
Now where are the numbers broken down in terms of western wear purchased and alcohol sales? Maybe Pinto Ranch and Budweiser will release economic study results next week.