Monday, March 6, 2017 / by Leslie Herald
Since the Houston Livestock Show and Rodeo™ was established, it has made an impressive footprint on the livestock and entertainment industries and in the sport of rodeo. It also has played a notable role in enhancing the lives of thousands of young people in the state of Texas.
The many milestones celebrated throughout the years have all contributed to Houston's most popular event.
Since the Houston Livestock Show and Rodeo™ began in 1932, more than $430 million has been committed to the youth of Texas. The Show has presented nearly 17,000 scholarships since the first scholarship was awarded in 1957.
Currently, more than 2,400 students are on Show scholarships, attending more than 80 different Texas colleges and universities. The value of these scholarships is approximately $47 million. WATCH VIDEO
In 2010, an Economic Impact Study was conducted on the Houston Livestock Show and Rodeo™ by Barton Smith, Ph.D., Professor of Economics, Emeritus, University of Houston. Below is an estimate based upon the results of the study following the 2010 Show. "While the primary benefit of the Rodeo is the unparalleled entertainment opportunities it provides the region and the large distribution of charitable giving, the Rodeo also provides a bonus economic stimulus to the overall economy that is significant. This stimulus is almost certainly greater than any other sports or arts production in Houston and is comparable to the presence of a major economic base corporation with local employment in excess of 3,000 employees."
Annual aggregate gross sales are increased by $475,403,000.
Annual gross regional product is increased by $320,221,000.
Annual personal incomes are raised by $290,710,000.
7,265 full-time equivalent jobs are created.
The local population is increased by 16,316 people.
Residential capital is changed by $361,877,000.
Non-residential capital is changed by $420,125,000.
The annual fiscal dividend (tax revenues) to local government is increased by $27,344,000.
The above results were obtained by utilizing the REMI research model (Regional Economics Modeling Incorporated). The REMI model analyzed $143,760,712 in exogenous spending (from money external to the area) by spectators, contestants, exhibitors, contractors and sponsors at the 2010 Show.
The Houston Livestock Show and Rodeo™ would not be the well-run success that it is today without the vision, dedication and hard work of its volunteers. What began as a small group of people with a dream has developed into an event supported by the efforts of more than 33,000 volunteers.