FOR IMMEDIATE RELEASE
May 11, 2016
MEMPHIS, TN --- This afternoon, Agricenter International released the 2015 Economic Impact Study conducted by Younger Associates in March of this year. John Charles Wilson, President of Agricenter, stated that “With 1.3 million visitors to the grounds a year, Agricenter International has a significant economic impact on the region and this is second only to the tourism draw of Beale Street.”
The overall economic impact of Agricenter International and the business entities operating as tenants, combined with visitor spending from events is $524 million annually. This figure represents the value of all goods and services produced within the Shelby County economy as a result of Agricenter International and its related operations. John Butler, President-Elect of Agricenter, added “The fact that Agricenter brings more than half a billion dollars in economic impact to this region is amazing and shows the value of the non-profit and its tenants.”
The number of jobs supported within Shelby County by Agricenter and its related operations is 2,517. This figure includes those jobs directly employed by Agricenter and its related tenant operations as well as indirect jobs that exist elsewhere in the Shelby County economy in support of these operations. These indirect jobs are employed in a broad range of activities such as manufacturing, farm technology development, crop production, warehousing, customs brokerage, maintenance services, office suppliers, hotels, food services, and other retail.
Total local taxes generated from operations, visitor spending, and wages paid to direct and indirect jobs are projected to be $4.7 million annually.
Download a copy of the report here: www.agricenter.org/documents
Agricenter International is a non-profit dedicated to agricultural research, education, and conservation. For more information visit www.agricenter.org or call 901-757-7777.