Economic Impact Analysis of The Monument 2022

This technical report presents an economic impact analysis of The Monument for the year 2022, focusing on its effects on the local economy of Pennington County and the state of South Dakota. The analysis was prepared by Tourism Economics using a comprehensive model that incorporates various primary and secondary data sources. The report quantifies the direct operational spending by The Monument, which amounted to $82.3 million, and the off-site spending by attendees and participating teams, which contributed an additional $69.8 million in Pennington County. The total economic impact generated by The Monument's operations and visitor spending reached $131.3 million, supporting 1,430 jobs and generating $11.9 million in state and local taxes. The report outlines the various categories of spending, including administration, production, and event services, and provides detailed insights into the attendance figures and economic contributions of different types of events held at The Monument.