Sierra Planning and Management Velodrome - Town of Milton

Velodrome Business Plan – Town of Milton 59
9 ECONOMIC IMPACT ESTIMATES
The following outlines a preliminary quantitative analysis of economic impact resulting from the
construction and operation of the Milton Velodrome:
1. Estimating the economic impact of construction of the velodrome facility in terms of a range of
measures: Gross Domestic Product (GDP), capital spending, income, employment, as well as
income taxes generated locally, provincially and nationally;
2. The impacts of velodrome operations with regard to employment and estimates of provincial and
federal income taxes generated; and
3. The impact of spending off-site by visitors attending velodrome events.
The nature of the facility “as a one of a kind” recreation and event centre in the Country will ensure that
much of the benefit is net additional to the economy. It is recognized however, that the presence of the
Velodrome can be expected to negatively impact the operations of the Forest City Velodrome unless the
growth in uptake of track cycling at the Milton facility results in replacement demand for track time in
London.
9.1 ILLUSTRATIVE ECONOMIC IMPACTS OF A VELODROME IN MILTON
The following economic impact analysis examines the scale of economic contribution of a potential
velodrome facility to the local, regional, provincial and national economies. The following exhibit illustrates
the range of economic impact measures.
Business Plan | January 2012
Sierra Planning & Management
59