Greater Return on Investment ~ Greater Return on Involvement
Tag Archives: Benchmarking
For more than nearly 10 years, the Chamber has taken an annual Benchmarking Visit to investigate new programs and initiatives in a city similar to our community. It gives us a chance to study one of America’s other great cities and adapt its best practices to meet the growing needs of Tampa Bay. Past visits include Austin, Baltimore, San Diego, Memphis, Seattle, Boston, Denver, Charlotte and Phoenix.
Got briefed by David Cohen, the chair of the 2000 host committee that got the RNC to Phily.
Takeaways for Tampa:
Make it an effort to have a long-lasting impact on tourism/hospitality – not just a one-time show.
Create separate/dedicated transportation system for delegates – make them feel very special and make it so they can go wherever they want to go around the area – free of charge.
Create promotional program for area restaurants. This was the most disappointed group in Philly – they had high expectations for business, but it didn’t come through because delegates were at the convention from 6 – 10:00 each night. Definitely make public pitch to get locals out in restaurants.
Like baseball’s Fanfest and basketball’s Jamfest, create Politiicalfest – a multimedia celebration of American politics. Make a replica of oval office. Create a mock up of the convention stage and allow people to give speeches – with balloon drops and all. Sell DVD’s of their speech. Have political memorabilia vendors come in.
Do video feeds from convention – put up big screens strong city where public can watch. Engage the public – make it free and get local politicians (from both parties) to attend these events and mingle. .
Do a Host committee reception every night. Non-partisan reception – thanks to biz community.
The convention paid off in Phily – they’re consistently up on hotel nights compared to pre-convention and established the city as a player in major hospitality events.
Got Philly briefing from Mayor Nutter – Penn grad – very impressed with his grasp of city ops. Says he treats it like a business – he’s the CEO and the taxpayers are investors.
Dr Genshaft announced a multi-million dollar grant from BP to USF to further study effects of oil spill – Go Bulls!
Presentation on the inner-workings of Philly’s stadium deals by Tom Whitworth, of NorthMarq Financial and Sam Rhoades, Sr VP of Finance, PIDC (economic development arm) – very insightful. Tom has worked on several stadium deals, including the Marlins park in Miami; Sam is on economic development side from Philly’s perspective. They have the only sports complex in the country where professional football, baseball, basketball, and hockey are played. The combined parks – Lincoln Financial Field, Citizens Park, and the Wells Fargo Spectrum – have a combined 108,000 seats and parking for 22,000 cars.
Take-aways for Tampa –
Make it about community impact….not about the stadium. Focus on how the project will impact the surrounding community both economically, and from a ‘quality of life’ perspective.
Structure deal so the community shares in upside of increase value of franchise – get a piece of the action if team owners cash out after public money helped increase the value of the team.
The stadium is storm shelter – example from Miami’s new park, which has retractable roof system.
Make teams responsible for cost overruns – set up deal with capped commitment from public sector.
Issue bonds on incremental new income – this could be done if there’s substantial upside in new revenue from a new stadium.