BIG BAY BOOM” JULY 4th FIREWORKS SHOW MAJOR ECONOMIC BENEFIT
A major economic impact study was just completed by the Fermanian Business & Economic Institute of Point Loma Nazarene University. The study determined that the annual July 4th fireworks show on San Diego Bay called the “Big Bay Boom” creates $10.6 million of total economic benefit for the local economy.
The event generates
The completed study was based upon field research and surveys completed by the Fermanian Institute staff. “Our research team met with many of the bay waterfront businesses, including hotels and restaurants, to collect data to derive our economic conclusions, said Randy M. Ataide, Executive Director of the Fermanian Institute. Dr. Lynn Reaser, the Chief Economist at the Fermanian Institute stated, The Big Bay Boom is a very significant and timely event for our local businesses in San Diego. Before the Big Bay Boom, many hotels and restaurants, for instance, had comparatively very low occupancy on July 4th, particularly since there is typically little convention or business activity during the holiday. Other businesses would close for the day without the special fireworks event. This event serves to fill a regional economic void in the middle of summer.”
The study found that the Big Bay Boom event boosts local business sales more than 30% for hotels to six-fold gains for operators of boat charters and rentals. Additionally, hotels typically realize an impact over three days, while restaurants experience higher revenues for 2 to 2-½ days. Local businesses indicate that typically half or more of their sales during the July 4th holiday come from outside the local area.
Sandy Purdon, Executive Producer of the Big Bay Boom, founded the show in 2001 and directed that the proceeds go to the local Armed Services YMCA charity (www.asymcasd.org). This organization sponsors over 40 social, medical and financial programs for San Diego’s young enlisted military families.
For interest in supporting the Port of San Diego’s Big Bay Boom July 4th Fireworks Show benefiting the Armed Services YMCA, please contact H. P. “Sandy” Purdon, Executive Producer at 619-822-1177 or Send email.