{"id":233802,"date":"2021-09-04T05:14:59","date_gmt":"2021-09-04T10:14:59","guid":{"rendered":"http:\/\/csinewsnow.com\/?p=233802"},"modified":"2021-09-07T11:43:48","modified_gmt":"2021-09-07T16:43:48","slug":"bison-world-forecast-information-released","status":"publish","type":"post","link":"http:\/\/csinewsnow.com\/?p=233802","title":{"rendered":"Bison World forecast information released"},"content":{"rendered":"

\"\"<\/a>Jamestown\u00a0 (CSi) The the proposed Bison World theme park in Jamestown has received the results of a financial forecast, with the compilation of the forecasted financial information conducted by accounting and business advisory firm, Eide Bailly.<\/p>\n

The information provided by the Jamestown\/Stutsman Development Corporation points out that he forecast demonstrates that the planned tourism attraction on state-owned land adjacent to I-94 will be a successful economic development and diversification project for North Dakota. Nearly all of the projected financial benefits will flow back to the state as Legacy Fund earnings or taxes into the general fund if the investment is made from the state\u2019s $8.7 billion dollar Legacy Fund.<\/p>\n

\"\"<\/a>The forecasted financial statements reflect that the project would be a highly profitable investment for the state. The five-year projected returns show a range between $34 and $39.3 million flowing to the state from a $72.5 million dollar investment, a return of over 50%. The average annual return would be between $6.8 and $7.8 million or 11%. State sales tax revenues on over $68 million dollars in tickets and merchandise in just the first five years are also expected according to the study which compiled data from the North Dakota Department of Commerce and Apogee Attractions, a leading national theme park designer and operator.<\/p>\n

The projected return on investment also shows that the Bison World attraction would surpass the average annual performance of the Legacy Fund for the last five years and the last 10 years. In fact, in the fifth year of operations, the project\u2019s 12.6% return would double the current ten-year average return of the Legacy Fund.<\/p>\n

JSDC, CEO, Connie Ova says, \u201cThis information confirms what we believed from the beginning as we planned this project. It will be a great investment for North Dakota.\u00a0 In fact, all of the scenarios evaluated show a profitable project. We are confident that this project will surpass the returns the state is currently getting from its Legacy Fund investments outside our state and outside our country.\u201d<\/p>\n

Supporters of the project are expected to present their theme park plans and financial projections to a formal \u201cvetting committee\u201d of the State Investment Board in the coming days. Economic development projects in North Dakota are now urged to seek investments from the state\u2019s sovereign wealth fund (Legacy Fund) under a new state law (HB 1425) enacted during the last legislative session.<\/p>\n

Bison World was presented as the kind of project that would access the Legacy Fund when H.B 1425 passed the legislature overwhelmingly. Besides its many benefits for the tourism industry, the project will also help diversify North Dakota\u2019s economy, provide a solid financial return to the taxpayers and turn non-productive state land into a revenue producing investment.<\/p>\n

North Dakota\u2019s tourism director, Sara Otte Coleman, said that \u201cBison World \u2013 A Legendary Experience\u201d will add a destination attraction to expand our state\u2019s tourism industry.<\/p>\n

She says, \u201cThe addition of a major attraction between Fargo and Bismarck on I-94 would attract additional travelers looking to spend time in North Dakota.\u00a0 Most of our tourists come from states east of us. Our goal is to provide clusters of activities that draw new visitors and keep them in the state longer. If we can get them off the interstate and into a major attraction, we can cross-promote with other destinations across North Dakota. Bison World accomplishes that goal.\u201d<\/p>\n

In releasing the study, Ova said the final architectural, civil engineering and schematic design work on the project is expected to be completed in early to mid-October and will be released at that time.<\/p>\n

The entire report is available upon request from Connie Ova CEO of JSDC.<\/p>\n

\u2014 Significant additional revenues from naming rights, corporate sponsorships, private functions and licensing agreements could increase the revenue projections \u2013 and return on investment estimates \u2013 but are too early to predict at this time.<\/p>\n

\u2014 The Bison World project is expected to hire some 400 employees and, during the first five years in operation, pay over $21 million in salaries and benefits.<\/p>\n

\u2014 The \u201cProbable Market Share Attendance\u201d analysis projects an average of 227,500 paid attendees each year. In the \u201cHigh Market Share Attendance\u201d analysis, the average grows to 262,100. The \u201cHigh Market Share Attendance\u201d scenario projects nearly 173,00 more paid attendees to Bison World in the first five years than was projected by Apogee Attractions in their formal market study. (One Apogee Attraction analysis outside of this study, however, does show that paid attendance could surpass 300,000 paid attendees annually).<\/p>\n

\u2014 All four scenarios reflected in the report show a profitable project for North Dakota. Even in the \u201cstress test\u201d or \u201cbreakeven attendance\u201d analysis, where net income from ticket sales, merchandise sales and musical shows is \u201czeroed out,\u201d the project still returns a profit every year due to sales and income taxes that continue to flow to the state from the project.<\/p>\n","protected":false},"excerpt":{"rendered":"

Jamestown\u00a0 (CSi) The the proposed Bison World theme park in Jamestown has received the results of a financial forecast, with the compilation of the forecasted financial information conducted by accounting and business advisory firm, Eide Bailly. The information provided by the Jamestown\/Stutsman Development Corporation points out that he forecast demonstrates […]<\/p>\n","protected":false},"author":3,"featured_media":232857,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":["post-233802","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\/233802","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=233802"}],"version-history":[{"count":3,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts\/233802\/revisions"}],"predecessor-version":[{"id":233936,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts\/233802\/revisions\/233936"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/media\/232857"}],"wp:attachment":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=233802"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=233802"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=233802"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}