Econsult Corporation was retained by the Automobile Dealers Association of Greater Philadelphia (ADAGP) to analyze the economic and fiscal impact of the Philadelphia Auto Show on the City of Philadelphia and the Commonwealth of Pennsylvania.
Annually, the Auto Show draws hundreds of thousands of visitors and dozens of exhibiting automobile manufacturers. It is recognized within the automotive industry as one of the nation’s top shows, and features over 700 vehicles each year. The show generates revenue for the City and the Commonwealth through direct and ancillary spending done and the exhibitors, and the tax revenues generated from this spending.
In 2012, the Philadelphia Auto Show brought in over 250,000 attendees. Econsult found that the Auto Show is responsible for supporting hundreds of jobs and generating millions of dollars through direct expenditures and ancillary spending in the City and Commonwealth. This spending has a significant economic and fiscal impact. Econsult also found that the impact in 2012 was over 10 percent larger than the 2011 Philadelphia Auto Show, and there was approximately a 15 percent increase in tax revenue for both the City and the Commonwealth.
This spending, by ADAGP, exhibitors, and visitors, ripples through the local economy and supports additional activity and employment. It also generates significant tax revenues for the City and Commonwealth, through the overall increase in economic activity as well as through increases in amusement tax revenues, hotel room tax revenues, and parking tax revenues.
