Why City For Champions?
On July 8, 2013, the City of Colorado Springs began its pursuit of supplemental funding with the Regional Tourism Act of the Colorado Office of Economic Development and International Trade. The Regional Tourism Act promotes diversification of the state’s economic base by providing a financing mechanism for attracting, constructing and operating large-scale regional tourism projects, which include tourism or entertainment facilities that will attract significant investment and revenue from outside the state. The application, appropriately named “City for Champions,” highlights four unique and extraordinary venues that will strengthen and diversify the economic impact of our regional and state visitor attractions:
The United States Olympic Museum:
An iconic destination museum dedicated to highlighting the values, historic moments, and collective memories of the Olympic and Paralympic movement.
Colorado Sports and Event Center:
A destination for professional and aspiring athletes, this new one-of-a-kind stadium will host regional and national sporting events associated with the Olympic movement in Colorado Springs.
Gateway Visitor Center:
A destination for an engaging visitor experience, providing a way for visitors to experience the honor and contributions of Cadets to the US Air Force.
In addition to providing four unique and extraordinary venues, City for Champions adds significantly to the local and regional economies. City for Champions will:
- Boost the region’s $1.35 billion annual tourism industry
- Attract about 1.2 million visitors each year
- Add more than 500,000 new out-of-state visitors annually
- Increase retail sales by $140 million each year
- Increase gross metropolitan product by $217 million annually
- Add $4.4 million in new sales tax revenue for the city annually
- Add $2 million in new sales tax revenue for the county annually
- Leverage a $120.5 million state tourism improvement rebate
- Allow 23 local TEAM USA National Governing Bodies to host Pre-Olympic and World Championship events here
City for Champions leverages the economic benefit of these four venues for the long-term vitality of the Pikes Peak Region. City for Champions will spur economic growth, strengthen our local economy and create more than 5,100 new jobs. As a catalyst for other public/private partnerships and economic growth, it will help revitalize downtown with new retail opportunities, restaurants, companies and residential development.
Additionally, City for Champions will promote the community through tourism in order to attract more visitors who spend money without living here. It will attract about 1.2 million visitors each year, with more than 500,000 new out-of-state visitors. And, it will boost the region’s $1.35 billion annual tourism industry. City for Champions will brand Colorado Springs as America’s Olympic City, and invite national/international sports performance and medicine entities to the city–to compete in events and do business. City for Champions will allow 23 local TEAM USA national governing bodies to host Pre-Olympic and World Championship events here. It will attract visitors for industries we want to grow: sports medicine, tourism and regional and national sporting events.
City for Champions will help diversify our sales tax base, providing long-term economic stability and diversification, rather than over-reliance on Department of Defense related jobs. It will improve our ability to provide basic services: street lights, watering, parks and road maintenance, police and fire services, etc.