Johnson Consulting - Real Estate Consulting

Project Highlights

  • Market and feasibility analysis of the addition of a multi-purpose venue at an existing fairgrounds
  • Demand and financial projections
  • Strategic implementation plan

 
The Volusia County Fair and Expo Center in DeLand, Florida was considering an expansion, aimed at improving the Fairgrounds’ attractiveness and capacity to hold more trade shows, consumer shows, concerts, and sporting events. Initial concepts for expansion included a 30,000 to 50,000 square foot Multi-Purpose hall, a covered arena, and a new arena. C.H. Johnson Consulting, Inc. was engaged to perform market feasibility and financial and economic impact analysis of the expanded Fairgrounds to determine:

  • Components to be included in a modern day, year-round fairgrounds complex
  • Components appropriate for an upgraded Volusia County Fairgrounds complex
  • Level of market supply and demand characteristics that support such expanded Fairgrounds facilities
  • Reasonableness of the development costs
  • Projected level of event demand for the expanded facilities
  • Income and expense projections for the expanded facilities
  • Economic and fiscal impact of an expanded Fairgrounds complex
  • How the recommendations should be communicated to stakeholders

Our analysis determined that the new multi-purpose hall is the most needed component of the masterplan at this stage. The economic and fiscal impacts of the incremental development were projected to create 140 full-time equivalent jobs; direct, indirect, and induced incremental spending of $17.6 million; and $1.1 million of incremental Fiscal Impacts.