The Fort Worth Stock Show & Rodeo expects about 1.2 million visitors this year who are expected to spend more than $56 million in the city, according to a report presented Tuesday to the City Council.
Business executive Ed Bass said Stock Show visitors are expected to generate about $1 million in tax revenue for the city and about $3.5 million in tax revenue for the state.
“Those people are not the only visitors. We will have more than 29,000 head of livestock in the show,” Bass, a longtime supporter of the Stock Show, said to laughs from the crowd.
The report, prepared by Grotta Marketing Research Llc., also outlined the performance of the 2014 Stock Show. The 23-day event had 1.13 million visitor-days and about 400,000 unique individuals, the research showed.
The event generated $56.8 million in direct expenditures in 2014, and it generated $1.13 million in city taxes and $3.55 million in state taxes.
“It is the Stock Show that teaches our children generation after generation our principles of Western heritage and the things that makes Fort Worth what it is,” Bass said, referring to the many students expected to participate through FFA, 4-H and other programs.
The Stock Show, which will run from Jan. 17 to Feb. 7, is in its 119th year.
Bass also said Event Facilities Fort Worth, the nonprofit organization he chairs, has started work on fundraising for at least half the money for the new arena planned near the Will Rogers Memorial Center.
The request for funding for a $450 million, 14,000-seat multipurpose arena and sports facility proposed for the Cultural District secured an easy victory from voters in November. The city is paying half of the cost, with the private sector committing to the rest.
“Fort Worth voters gave an overwhelming mandate to proceed forward with a new, state-of-the-art multipurpose arena. … So now, our public-private partnership is working hard on planning, design and financing so that we will be able to open this arena,” Bass said.
The arena, projected to open in 2019, will be used for the Stock Show and will also host concerts, sporting events and family shows.
Caty Hirst, 817-390-7984