Convention Center revenues up in 2012

The Fort Smith Convention Center is off to a good start, according to Claude Legris, executive director of the Fort Smith Advertising and Promotion Commission.

At the group’s Tuesday meeting (Feb. 28), January event revenue totals showed a gain of $17,285 from the same period in 2011.

In December 2011, the biggest earning events were “The Nutcracker‚” on Dec. 6 ($6,995), Robotics on Dec. 8 ($6,567), Hit Em Hard MMA on Dec. 3 ($3,418), and the Fort Smith Symphony concert, also on Dec. 3 ($3,296).

Comparatively, January numbers have nearly doubled the $27,696 figure from last month. The Convention Center earned $54,403 in event revenues during January 2012. The two biggest events for the month were the Eric Church concert on Jan. 19 (close to $22,000) and the Bridal Fest on Jan. 16 (close to $9,000).

The University of Arkansas-Fort Smith’s “South Pacific” and “Spamalot” events as well as the Fort Smith Juniors Battle at the Fort Volleyball Tournament were also strong performers, Legris said.

For the A&P Commission, the good news comes just in the nick of time. In 2011, the Center was at the middle of a city-wide dispute concerning the planned 1% prepared food tax that would have funded the facility.

Voters ultimately rejected the tax, but Legris doesn’t believe it has negatively affected the center, looking at the January numbers as a sign that perhaps the dispute brought awareness to the facility.

Legris is also hopeful that the Convention Center “will start taking on alcohol sales at events,” expecting a 12-month license by June 2012, which would give the Center power to take on the extra revenue by the end of the fiscal year, he said.

Looking back to year-end numbers for 2011, the good news ends.

Event revenue fell from $681,007 in 2010 to $472,323 in 2011, a decline of $208,684. The 2011 number is the lowest since 2002 when the Convention Center brought in just $432,736. Percentage-wise, 2011 shows a 30.64% decline from last year.

The 2011 financial report summary was slightly more optimistic showing total revenues at $708,141 and expenses at $679,783, a surplus of $28,358 for the year. The Convention Center Fund finished 2011 with a year-to-date balance of $361,668. Minus new revenues and expenses for January, the fund balance now rests at $269,090.

Also at Tuesday’s meeting, it was announced Fort Smith would host a state swim meet from July 26-29 and the Arkansas Anime Festival, slated for August 2012.