{"id":211413,"date":"2020-10-29T10:11:26","date_gmt":"2020-10-29T15:11:26","guid":{"rendered":"http:\/\/csinewsnow.com\/?p=211413"},"modified":"2020-10-29T14:33:52","modified_gmt":"2020-10-29T19:33:52","slug":"buffalo-city-park-market-plan-unveiled","status":"publish","type":"post","link":"http:\/\/csinewsnow.com\/?p=211413","title":{"rendered":"Buffalo City Park Market Plan unveiled"},"content":{"rendered":"

\"\"Jamestown\u00a0 (JSDC)\u00a0 On Thursday, the Jamestown Stutsman County Development Corporation (JSDC) reported on the results of the formal market study for the Buffalo City Park project.<\/a><\/p>\n

Next, The Market and Financial Assessment Final Report will \u00a0be sent to the North Dakota Department of Commerce and its Tourism Division for review. The market study finalizes the \u201cConcept and Master Plan\u201d completed this year, by Apogee Attractions LLC and provided to the state at that time.<\/p>\n

JSDC CEO \u00a0Connie Ova, says, the study projects annual gross revenues averaging over $14 million with annual net earnings of $3 million.<\/p>\n

Highlights of the detailed, 70-page study was conducted by Apogee Attractions LLC, Chief Economist\u00a0 Peter Kaanaput, Jr.<\/p>\n

Study Highlights Include:<\/p>\n

Site location \u2014 The state-owned land at Exit 258 is a \u201chighly desirable\u201d location for a new tourism attraction due to its easy access and excellent I-94 visibility. The fact that there would be no land acquisition cost to the state is a significant plus. The site also enables the state to generate revenue from currently non-revenue producing land.<\/p>\n

Competition \u2014 There is virtually no competition for a regional themed destination in this part of North Dakota. Buffalo City Park would be the \u201cpremier attraction\u201d that would also be able to compliment and promote other tourist attractions in the western part of the state. It would serve as a \u201ctourism gateway.\u201d<\/p>\n

Market Size \u2014 There is a sizeable market of over 1.6 million people that includes current residents and annual visitors to the region. Additional growth in the market could be expected if hotel facilities and additional infrastructure were developed near the facility.<\/p>\n

Attendance Projections \u2014 The study uses conservative, seasonally adjusted attendance projections due to the climate\/weather conditions of the area. Annual paid attendance during the first five years of operation ranges from 227,000 to 256,000 people.<\/p>\n

Financial Analysis \u2014 The study concludes that Buffalo City Park would be a successful investment for the state of North Dakota. Approximately $70-76 million of taxable revenue
\nwould flow through the park during the five-year period analyzed. The project would also provide net earnings to the state of $14-15 million during the same period. An investment of $60 million to build the attraction would be warranted according to the study. The facility would open in early 2024.<\/p>\n

From Apogee Attractions, LLC<\/p>\n

We are pleased to present to you our Market and Financial Assessment on Buffalo City Park (BCP)
\nfor Jamestown, North Dakota. The Apogee team is quite excited about BCP and believes it is the
\nright project at the right time for Jamestown and, indeed, for North Dakota.
\nBCP\u2019s central location in the state, easily approached just off the I-94 artery, will greatly enhance
\nthe idea of Jamestown as a significant tourist destination. Visitors will have the opportunity to not
\nonly to view magnificent Bison up close, they will also learn about ancient herds, native peoples,
\nthe innovations and use of Unmanned Aircraft Systems, and more.
\nWe fully expect BCP to be successful in its early years and to expand and grow its attendance in
\nthe future. The attached study, along with the Concept and Master Plan, will provide a solid
\nfoundation for the creation of Buffalo City Park into a major state tourism attraction
\nWe would like to take this opportunity to thank the Jamestown Tourism Authority, the
\nJamestown\/Stutsman Development Corporation, the National Buffalo Museum, and Lunde &
\nAssociates for their confidence in Apogee Attractions. We appreciate all the invaluable support
\nand guidance we have received from Brian Lunde, Connie Ova, Searle Swedlund, Ilana Xinos, and
\ntheir staffs.
\nThere is much more work to do prior to opening Buffalo City Park, but we already see its future
\nsuccess, and we look forward to working with you on its completion.<\/p>\n","protected":false},"excerpt":{"rendered":"

Jamestown\u00a0 (JSDC)\u00a0 On Thursday, the Jamestown Stutsman County Development Corporation (JSDC) reported on the results of the formal market study for the Buffalo City Park project. Next, The Market and Financial Assessment Final Report will \u00a0be sent to the North Dakota Department of Commerce and its Tourism Division for review. […]<\/p>\n","protected":false},"author":3,"featured_media":204485,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":["post-211413","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured"],"_links":{"self":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts\/211413","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=211413"}],"version-history":[{"count":3,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts\/211413\/revisions"}],"predecessor-version":[{"id":211432,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts\/211413\/revisions\/211432"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/media\/204485"}],"wp:attachment":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=211413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=211413"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=211413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}