INVESTMENT NEEDED

BUDGET SUMMARY


STRUCTURAL

5,000 Square Feet X $225/ per foot $1,125,000

Key considerations:
Museum quality restoration; Existing water damage;
HVAC; lead/asbestos; ADA/elevator; Restroom Facilities

PROGRAM DEVELOPEMENT

Muster Grounds $225,000
Revolutionary War Discovery Center Immersive Experience $650,000
Battle Room $225,000
Bobby G. Moss Living History $175,000
Marketing, Branding, & Program Creation $459,000
First Year Operations $250,000

TOTAL BUDGET: $3,500,000

VISITOR EXPENDITURE PROJECTIONS

Low High

PROJECTED VISITORS: 

35,000 

60,000

Low: 35,000 X $12  = $420,000
High: 60,000 x $12  = $720,000

ANNUAL REVENUE: $420,000-$720,000

CITY OF GAFFNEY ECONOMIC IMPACT

With the use of conservative assumptions concerning visitation and expenditure rates, a preliminary economic impact number can be determined.

THIS ANALYSIS IS BASED ON THE FOLLOWING ASSUMPTIONS:

 

  1. The Revolutionary War Discovery Center will be constructed, branded, and marketed in accordance with this plan;
  2. The Revolutionary War Discovery Center will attract between 5 percent and 10 percent of the approximate 500,000 annual visitors of the nearby Kings Mountain National Military Park and Cowpens Battlefield;
  3. The Revolutionary War Discovery Center will attract approximately 10,000 visitors independent of other nearby NPS attractions;
  4. Provided there are no new lodging establishments constructed in Gaffney, an expenditure rate of $12 per person is expected based on food, gas, and retail expenditures; and
  5. The City of Gaffney will further develop its downtown infrastructure to improve the visitor experience, incorporate additional Southern Campaign thematic elements throughout downtown, and make other investments necessary to encourage small business and entrepreneurship.