Upload
others
View
4
Download
0
Embed Size (px)
Citation preview
ARGENTA DOWNTOWN EXPERIENCE DISTRICT 2018
A Preliminary Look at Dickey-Stephens Park and Simmons Bank Arena
nlr.ar.gov300 Main St., PO Box 5757
North Little Rock, AR 72119Phone: (501) 975-8601 | Fax: (501) 975-8633
CONTENTS
BACKGROUND 1 GROWTH AND TRENDS 2 AREA DEVELOPMENT 2
ARTS, DINING, AND ENTERTAINMENT 3 SALES 4 TOURISM 5
ARGENTA DOWNTOWN EXPERIENCE DISTRICT 2018A Preliminary Look at Dickey-Stephens
Park and Simmons Bank Arena
Prepared by Arkansas Economic Development Institute
YourAEDI.com
Photo courtesy of Arkansas Parks and Tourism
Photo courtesy of Arkansas Parks and Tourism
Photo courtesy of Arkansas Parks and Tourism
ARGENTA DOWNTOWN EXPERIENCE DISTRICT2018
1
North Little Rock is a town shaped by industrial development and proud historic neighborhoods. With an estimated population of 66,127 (per US Census, 2018), it is one of the largest cities in Arkansas and occupies an important place in the state’s economy.
Much of the city’s initial growth was driven by railroads, silver mining in the old town of Argenta and the creation of Fort Roots, Camp Robinson and later the Little Rock Air Force Base in Jacksonville. With prosperity came an inf lux of people seeking employment, including Italians, Poles, Germans and African Americans. In its early years the city was seen as a “blue collar” town, with a growing middle class.
North Little Rock took its f irst big step in 1904 when it engineered the annexation of Argenta from Little Rock, and achieved a population of 8000. The same year North Little Rock was declared a “ first class city” by the state’s governor and William Faucette became the newly enlarged city’s f irst mayor.
In the 1920’s construction began on Park Hill, soon to become one of North Little Rock ’s most iconic neighborhoods. Lakewood and Sylvan Hills soon followed and the six lakes that make up Lakewood were completed
in 1932. After World War II, the city annexed Foot Roots and the unincorporated areas of Rose City, raising the city’s population to almost 40,000. Glenview, Indian Hills and other residential developments were constructed in the 50’s and 60’s and the city acquired the acreage for Burns Park, one of the country’s largest municipal parks, in 1955.
The state’s largest shopping mall, McCain Mall, opened in 1973 and suburban growth continued throughout the 70’s and 80’s. Spearheaded by the creation of the Argenta Historic District in 1993, a downtown revitalization movement began that led to the restoration of many historic properties and new construction in older sections of the city.
What is today Simmons Bank Arena, Central Arkansas’s main entertainment venue, opened in 1999. In 2005 the city launched the Arkansas Inland Maritime Museum with the USS Razorback, a submarine commissioned in 1944, as its centerpiece. North Little Rock voters approved a two-year, one-percent sales tax for construction of the Dickey-Stephens Park in 2005 and, in 2007, North Little Rock became the proud home of the historic Arkansas Travelers minor league baseball team.
Background
Today North Little Rock is one of the most viable cities in central Arkansas. While many traditional industries have faded, North Little Rock has seen the growth of retail, sports and entertainment venues that have transformed the Argenta Historic District and its surrounding area into to one of the most exciting and attractive downtowns in Arkansas.
This report presents f igures from the Argenta area and some of its entertainment drivers and shows the way in which these venues attract visitors from outside the city and central Arkansas. Monetary benefits arising from visitor spending on ticketed events and the direct spending by the facilities are also presented.
CITY OFNORTH LITTLE ROCK
ARGENTA
PULASKI CO.
ARKANSAS
ARGENTA DOWNTOWN EXPERIENCE DISTRICT 2018
2
Growth and TrendsOne of the most popular areas in North Little Rock is the Argenta Downtown Experience District which is known for the variety and accessibility of its restaurants, art spaces and entertainment venues. According to data drawn from the 2000 U.S. Census and the U.S. Census American Community Survey 5-year estimates for 2013–2017, the population in the District grew from 5,777 in 2000 to 6,272 by 2017. The median age deceased from 30.9 to 28.9 and the percentage of residents with a bachelor’s degree or higher jumped from 5.9% to 19.7%. The median household income for residents increased from $15,640 to $24,525.
Area DevelopmentOver the last 20 years North Little Rock and the Argenta Downtown Experience District, anchored by the construction of Simmons Bank Arena and Dickey-Stephens Park, have experienced significant growth. New restaurants, bars, art spaces, shops, music and theater venues, along with networking opportunities for entrepreneurs and businesses, now characterize the area. Comparison satellite images of the Argenta Downtown Experience District from 1994 (Figure 1) and 2018 (Figure 2) show changes to the area spurred by the construction of Simmons Bank Arena and Dickey-Stephens Park.
FIGURE 1 Downtown Experience District (1994)
FIGURE 2 Downtown Experience District (2018)Source: Esri, DigitalGlobe, GeoEye, Earthstar Geographics, CNES/Airbus DS, USDA, USGS, AEX, Getmapping, Aerogrid, IGN, IGP, swisstopo, and the GIS User Community
Dickey-Stephens Park
Simmons Bank Arena
ARGENTA DOWNTOWN EXPERIENCE DISTRICT2018
3
1 AY Staff. (2017, November 30.) Downtown Comebacks: Little Rock River Market, SoMa and Argenta Arts District. About You. Retrieved from http://www.aymag.com/downtown-comebacks-litt le-rock-river-market-soma-and-argenta-arts-district/.
Arts, Dining, and EntertainmentVisitors who attend events at Simmons Bank Arena or games at Dickey-Stephens Park have a variety of options for meals, lodging, and other activities. The Argenta Arts District, located within the Downtown Experience District, is closest to these two large event venues and hosts nine art galleries and a monthly art walk. A short walk across the bridge spanning the Arkansas River takes the visitor to the River Market District in Little Rock and SOMA, the area of South Main covering the blocks between 12th and 29th Streets.
In a 2017 interview, Chris Kent, Marketing Director for the Argenta Arts Foundation, said, “I remember when we struggled to find activities. Now I can’t keep up with them all. [There are] art walks, concerts, festivals, sculpture gardens, bike trails and so much more.”1 In 2007, according to Mr. Kent, there were only four restaurants, in 2017, there were 11.
Today the Argenta Arts District houses no fewer than 14 eating and drinking establishments, ranging from full service restaurants like Ristorante Capeo, Benihana, Cregeen’s Irish Pub and Riverfront Steakhouse; to casual bars, coffeehouses, and taprooms like Crush Wine Bar, Reno’s Argenta Café, Four Quarter Bar, Mugs Café, and Flyway Brewing Company. Dozens of restaurants and bars featuring an even greater variety of food and drink can be found in nearby Little Rock.
For overnight travelers the District offers Wyndham Riverfront, a three-star hotel; the Baker House, a charming bed-and-breakfast; and the Downtown Riverside RV Park. More hotels and bed-and-breakfast establishments are available in Little Rock.
Live theater productions close to Dickey-Stephens Park and Simmons Bank Arena include the Argenta Community Theater in North Little Rock, the Arkansas Repertory Theater in Little Rock and several other local theatrical venues on the south side of the river. The Joint Theater and Coffeehouse offers comedy club productions including original comic plays, open-mike nights, touring professional comedians, and a weekly jazz night.
Additional attractions include the Arkansas Regional Innovation Hub, the Arkansas Sports Hall of Fame, and the Arkansas Inland Maritime Museum, which features tours of a World War II submarine and tugboat and memorials to submarines lost during the war. The North Little Rock Public Library maintains a branch in the District and the f lagship library of the Central Arkansas Library System is located in the Little Rock River Market.
Museums nearby include the William J. Clinton Presidential Library, the Heifer Village and Urban Farm, the Arkansas Arts Center, and the Museum of Discovery in Little Rock. Smaller museums include the ESSE Purse Museum and the Witt Stephens Jr. Central Arkansas Nature Center.
All these businesses and public and private venues are a vital part of the tourism industry and play a crucial role in the ongoing development of the urban core of the Downtown Experience District. A vibrant and sustainable quality of life, so important to economic development today, is impossible without strong entertainment and recreational options.
Photo courtesy of Arkansas Parks and Tourism
Photo courtesy of Arkansas Parks and Tourism
4
ARGENTA DOWNTOWN EXPERIENCE DISTRICT 2018SalesThe Effect of Dickey-Stephens Park and Simmons Bank Arena on Bar and Restaurant Sales in the Downtown Experience District
For this report the researchers contacted a variety of bars and restaurants in the area and examined tens of thousands of sales records for 2018. Although an analysis of the data indicated positive changes in sales
and variation in volume depending on the month and the day of the week, results were generally inconclusive and researchers were unable to determine whether sales in local restaurants were impacted by events held at Simmons Bank Arena and Dickey-Stephens Park. A larger data set and time frame is required to further evaluate such changes.
Table 1 shows the monthly revenue for bars and restaurants in the section of the Argenta Downtown Experience District closest to Dickey Stephens Stadium and Simmons Bank Arena. Figure 3 shows the area in which the sales occurred.
FIGURE 3 Restaurants and Bars in Argenta/Broadway TABLE 1 Restaurants and Bars Monthy Revenue
MONTH AMOUNT
JANUARY $1,332,471.67
FEBRUARY $1,795,808.67
MARCH $2,241,511.00
APRIL $2,040,679.00
MAY $2,038,079.00
JUNE $2,032,138.67
JULY $1,970,656.00
AUGUST $2,008,498.67
SEPTEMBER $1,815,063.67
OCTOBER $2,005,801.33
NOVEMBER $1,833,518.67
DECEMBER $1,868,761.33
TOTAL $22,983,054.33
Arkansas Ale House - Diamond Bear Brewing Company
Benihana - Wyndham Riverfront Hotel
Core Public House Cregeen’s Irish Pub Crush Wine Bar Flyway Brewing Four Quarter Bar Kamikaito Green Cuisine The Joint Theater & Coffeehouse
Margo’s Catfish Diner McDonald’s Mugs Café Popeye’s Reno’s Argenta Café Ristorante Capeo Riverfront Steakhouse -
Wyndham Riverfront Taco Bell Sam’s Southern Eatery Skinny J’s Wendy’s
ARGENTA DOWNTOWN EXPERIENCE DISTRICT2018
5
TourismThe Effect of Dickey-Stephens Park and Simmons Bank Arena on Tourism in the Argenta Downtown Experience District
Data for Dickey Stephens Park and Simmons Bank Arena is compiled from ticket sales and purchases at each venue and a limited dataset based on food and drinks purchased outside each facility. Receipts were used to determine f luctuations in the purchase of food and drinks in the two facilities and the surrounding area before and immediately after scheduled games and events. All data is based on sales and attendance for 2018.
MethodologyIn order not to overestimate the number of individuals buying tickets outside of central Arkansas, al l cash and online sales originating from New York, San Francisco, Los Angeles, Phoenix and Miami are recorded as purchases by central Arkansas residents. This ensures that ticket resales from those locations do not inf late the number of non-resident purchasers. To avoid overestimating spending by residents outside the region, al l cash and credit card sales without zip codes are attributed to local residents and all revenue from picnic sales and sponsorships are excluded from estimates of ticket, concession, and merchandise sales.
This study uses the IMPLAN economic model to evaluate the gross contribution associated with events stemming from activities at both venues. The IMPLAN model is an input-output model that measures economic activity by tracing the f low of economic activities and f inancial linkages between industries, households, and institutions within a predefined area of interest2. In this case, the model will provide estimates of the total contribution of the park and the arena to employment in the study area.
ResultsDickey-Stephens Park
Set against the backdrop of the Little Rock skyline, Dickey-Stephens Park boasts seating for nearly 7,000 fans and offers a variety of foods, drink and promotions. Since its construction, Dickey-Stephens Park and its home team, the Arkansas Travelers3, have provided the region with entertainment and jobs. In 2018 the team’s payroll surpassed 1.5 million dollars and employed 18 full-time and 203 part-time staff from Little Rock, North Little Rock, Sherwood, Jacksonville and Conway. Including hosting umpires and other Minor League Baseball staff, the team provided an inf low of 2,400 individuals to the area providing local hotels with $96,000 in revenue for 2018.
Total ticket sales for 2018, including card transactions, cash and comp, trade, sponsorship and picnic sales, exceeded 1.3 million dollars. Even after assigning cash ticket sales to local residents, 24.70% of all non-ticket sales or $403, 726 can be attributed to the approximately 65,000 visitors from outside Pulaski County who attended Traveler games. Combined ticket and non-ticket sales from visitors outside the county amounted to approximately $650,000.
2 In this report, the study area is defined as Pulaski County .
3 The Arkansas Travelers baseball team is one of the oldest minor league franchises in the country and the first professional franchise to be named after a state. The Club’s history dates back over 100 years, and includes Hall of Famers Tris Speaker, Travis Jackson, Bill Dickey, Ferguson Jenkins, and Jim Bunning as well as like stars Dick Allen, Al Hrabosky, Garry Templeton and Mike Trout.The Travelers enjoy one of the longest running histories of any minor league franchise, failing to field a team in only seven years since 1901, the last absence coming in 1962 when the Southern Association folded. The Travs have been a member of f ive professional baseball leagues, beginning in 1901 as a charter member of the Southern Association. Since 1966, the Travelers have been a member of the Texas League and are currently the Double –A affiliate of the Seattle Mariners.
Photo courtesy of Arkansas Parks and Tourism
6
ARGENTA DOWNTOWN EXPERIENCE DISTRICT 2018
4 Because of its relative proximity to North Little Rock, Pope County was placed among the counties bordering the first group of counties.
FIGURE 4 Arkansas Travelers: Ticket Sales Revenue by County (Credit Card)
Phillips$258
Washington$1,243
Little River$72
Randolph$156
Baxter$372
Calhoun$467
Perry$2,243
Columbia$1,038
Grant$5,339
Sebastian$689
Lonoke$34,398
Pike$1,316
Craighead$1,197
Lincoln$860
St. Francis$91
Cleburne$3,901
Chicot$266
Cleveland$1,429
Clay$170
Arkansas$4,155
Pulaski$171,423
Howard$733
Union$2,343
Nevada$485
Crittenden$15
Fulton$107
Pope$8,337
Desha$883
Garland$17,041
Miller$633
White$15,278
Dallas$751
Lawrence$243
Stone$95
Monroe$493
Marion$27
Franklin$17
Prairie$892
Hempstead$1,356
Conway$1,729
Jackson$783
Drew$2,807
Cross$257
Clark$3,496
Crawford$258
Izard$168
Scott$75
Mississippi$34
Greene$184
Faulkner$35,521
Jefferson$7,877
Polk$473
Boone$27
Johnson$480
Ouachita$1,571
Benton$487
Saline$33,749
Searcy$757
Bradley$621
Yell$943
Sharp$928
Logan355
Independence3,178
Woodruff$261
Ashley$1,367
Montgomery$483
Sevier$202
Van Buren$1,052
Hot Spring$4,708
Poinsett
Newton
Carroll
Madison
Lee
Lafayette
Adjacent RegionAdjacent to Adjacent Region$15 - $5,339$5,340 - $17,041$17,042 - $35,521$35,522 - $171,423
FIGURE 5 Simmons Bank Arena: Ticket Sales Revenue by County (Credit Card)
Phillips$17,907
Poinsett$23,032
Washington$166,437
Little River$9,819
Randolph$25,789
Baxter$41,866
Calhoun$14,825
Perry$46,456
Columbia$29,715
Grant$90,301
Sebastian$110,003
Lonoke$592,198
Newton$4,202
Pike$35,686
Craighead$193,029
Lincoln$39,249
St. Francis$21,218
Cleburne$92,947
Chicot$18,516
Cleveland$33,507
Carroll$10,167
Clay$13,911
Arkansas$99,957
Pulaski$2,742,270
Howard$40,139
Union$101,416
Nevada$12,395
Crittenden$20,336
Fulton$9,880
Pope$269,615
Desha$47,652
Garland$411,435
Miller$38,486
White$356,859
Dallas$18,578
Lawrence$27,762
Stone$21,562
Monroe$22,146
Madison$8,887
Marion$18,482
Franklin$27,852
Prairie$45,030
Hempstead$35,123
Lee$12,759
Conway$88,574
Jackson$49,064
Drew$63,771
Cross$26,831
Clark$76,229
Crawford$51,165
Izard$25,013
Scott$8,092
Lafayette$7,781
Mississippi$29,704
Greene$58,126
Faulkner$736,584
Jefferson$258,555
Polk$32,500
Boone$30,058
Johnson$53,807
Ouachita$77,652
Benton$138,357
Saline$803,365
Searcy$16,368
Bradley$27,569
Yell$58,297
Sharp$33,707
Logan$42,346
Independence$144,703
Woodruff$27,046
Ashley$34,045
Montgomery$19,978
Sevier$12,879
Van Buren$50,664
Hot Spring$114,219
Adjacent RegionAdjacent to Adjacent Region$4,202 - $144,703$144,704 - $411,435$411,436 - $803,365$803,366 - $2,742,270
Figure 4 shows the estimated number of tickets sold in Arkansas by county.
Simmons Bank ArenaWith a seating capacity of 18,000 and located in the heart of the Argenta Downtown Experience District, Simmons Bank Arena (formerly Verizon Arena) is the largest public arena in Central Arkansas. Originally opened in 1999 as the Alltel Arena, the facility was f inanced by funding from the state and the private sector and a one-cent sales tax approved by Pulaski County voters in 1995.
The Simmons Arena has been home to a wide variety of events including bull riding, professional wrestling, concerts, trade shows, conventions and even monster trucks. Musical performers such as Bruce Springsteen, Garth Brooks, Cher, Bruno Mars and Tom Petty have graced the stage. Fleetwood Mac performed there in 2013 with President Bill Clinton and Hillary Clinton in attendance.
The f irst and second rounds of NCAA’s March Madness tournament were held there in 2008 and the Arena has hosted the SEC Women’s Basketball Tournament 4 times. Professional hockey teams, indoor professional football teams, and college basketball teams have chosen the Arena to stage their events.
During 2018 Simmons Bank arena attracted over 380,000 individuals and generated over 13 million in ticket sales. Sales of food, beverages and suite spaces produced an additional 3.2 million dollars and the arena employed 26 full time and 404 part time individuals.
Figure 5 shows detailed information regarding tickets purchased with a credit card by county. This analysis is restricted to information involving credit card sales which make up approximately 85 percent of ticket sales. The red line indicates the counties adjacent to Pulaski County, while the orange line shows counties surrounding the f irst group of counties4.
ARGENTA DOWNTOWN EXPERIENCE DISTRICT2018
7
Figure 5 shows that the combined revenue from credit card ticket sales from counties outside Pulaski County exceeded credit card sales within Pulaski County.
Figure 6 shows that the majority of tickets purchased by credit card are from outside Pulaski County.
Figure 7 shows that more than 90% of tickets purchased by credit card, 197,000 tickets valued at over 10 million dollars, were made within 5 hours drive time of the Dickey Stephens Stadium.
Figure 8 (on page 8) shows that residents from states bordering Arkansas pay more, on average, for tickets than Arkansans.
FIGURE 6 Simmons Bank Arena: Total Ticket Sales by County (Credit Card)
Phillips358
Poinsett401
Washington2,490
LittleRiver176
Randolph446
Baxter666
Calhoun344
Perry1,073
Columbia495
Grant2,072
Sebastian2,116
Lonoke12,110
Newton96
Pike726
Craighead2,953
Lincoln930
St.Francis
359
Cleburne2,050
Chicot271
Cleveland861
Carroll172
Clay275
Arkansas1,950
Pulaski51,816
Howard724
Union1,693
Nevada246
Crittenden351
Fulton196
Pope5,640
Desha896
Garland8,412
Miller656
White8,354
Dallas429
Lawrence564
Stone424
Monroe492
Madison172
Marion299
Franklin607
Prairie976
Hempstead728
Lee201
Conway2,347
Jackson906
Drew1,522
Cross486
Clark1,720
Crawford925
Izard505
Scott150
Lafayette107
Mississippi411
Greene1,015
Faulkner15,593
Jefferson5,828
Polk603
Boone538
Johnson1,220
Ouachita1,959
Benton2,030
Saline16,951
Searcy459
Bradley605
Yell1,226
Sharp601
Logan849
Independence3,150
Woodruff647
Ashley627
Montgomery407
Sevier289
Van Buren1,421
Hot Spring2,656
Adjacent RegionAdjacent to Adjacent Region96 - 1,5221,523 - 5,8285,829 - 16,95116,952 - 51,816
FIGURE 7 Simmons Bank Arena: National Ticket Sales by ZIP Code (Credit Card)
WA
MT MEND
SDWY
WIID
VTMNORNH
IA
MA
NE
NY
PA
CT RI
NJ
IN
NV
UTCA
OHIL DC DE
WV
MD
CO
KYKS VAMO
AZ OK
NCTN
TX
NM
ALMSGA
SCAR
LAFL
MI
5 hour drive time
ZIP Codes
ARGENTA DOWNTOWN EXPERIENCE DISTRICT 2018
8
FIGURE 8 Simmons Bank Arena: Average Ticket Price (Credit Card)
Texas$61
Missouri$59
Oklahoma$71
Arkansas$50
Louisiana$67
Mississippi$64
Tennessee$66
Average Ticket Price$50
$51 - $64
$65 - $71
DiscussionDuring 2018, Dickey-Stephens Park and the Simmons Bank Arena attracted over a quarter million visitors from outside Pulaski County, who spent over 9 million dollars on ticket sales and non-ticket activities. Historically both facilities have been centers for growth and expansion and continue to attract new visitors to central Arkansas. Spending in both facilities support 864 local jobs5.
The contribution of some establishments with arena related businesses like restaurants, bars and overnight accommodations were not been included since reliable
data was unavailable. Improvements in data collection are needed to more accurately estimate the spending patterns of individuals before and after arena events.
5 Includes full-time, part-time and temporary jobs.
ARGENTA DOWNTOWN EXPERIENCE DISTRICT2018
9
PARTNERS
SPECIAL THANKS
nlr.ar.gov300 Main St., PO Box 5757
North Little Rock, AR 72119Phone: (501) 975-8601 | Fax: (501) 975-8633