The local economic impact of the DNC Convention in 2012 shouldtop $200M in money spent on hotels, food, travel, and related expenses, says Charlotte Regional Visitors Authority CEO Tim Newman. That will include money spent at a planned Street Villagethat should rival most uptown Big Events, including NASCAR?s annual Speed Street festival. Of course there are costs. The local host committee has to privately raise about $37M to transform Time Warner Cable Arena into a convention hall. And the DNC will be spending about $45M of its own money on security alone, Tim tells us. (Half of that is for a computer system that ensures Nancy Pelosi and Heath Shuler aren't in the same hotel.) Still, the bandying of costs vs. benefits is lost in the rumble of excitement building uptown. ?This is the biggest and best event our destination has hosted in its history,? Tim says. |
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