Clinton Presidential Center Pays Dividend On Investment

The $165 million Clinton Presidential Center has lived up to its billing as a major tourist attraction.

The library and subsequent foundation and public service school projects are the cover story in our latest magazine edition of Talk Business & Politics. John Brummett with the Arkansas Democrat-Gazette is the author of the story of the library’s history, the debate surrounding its placement, and what was envisioned by its construction in an old brownfield in east Little Rock.

The Clinton Library promised to spark development in downtown Little Rock, which it certainly has. How significant of a catalyst was the presidential library? Consider these numbers, according to a report commissioned by the Little Rock Regional Chamber of Commerce and completed by Boyette Strategic Advisors:

– The Clinton Library enhanced developments in the River Market district, the Argenta Arts District across the river in North Little Rock, and is expanding redevelopment down Main Street in Little Rock’s reinvented creative corridor.

– Investment in the downtown areas of Little Rock and North Little Rock has totaled $2.46 billion since the Clinton Center location was announced in 1997, with a total economic impact of construction at $3.3 billion.

– The economic impact of construction of the Clinton Center and ongoing operation of the various organizations housed there is more than $346 million.

– Travel expenditures in Pulaski County have increased 68.1 percent since 2003.

– More than three million people have visited the Clinton Center in the last 10 years, with increases in annual visitors every year since 2007.

– Total tourism-related expenditures of visitors to the Clinton Center total $691 million since 2005.

– Travel-generated revenue in Pulaski County has increased by 41.2 percent to more than $28 million in 2013, while revenue from the City of Little Rock Advertising and Promotion tax has increased 64.5 percent to $11.9 million in 2013.

– The Arkansas River Trail System, which begins at the Clinton Presidential Park Bridge, runs throughout Central Arkansas and includes a 16-mile loop through Little Rock and North Little Rock. More than $62 million has been invested in development of the trail system.

– Heifer International constructed a new world headquarters and adjacent educational center on property near the Clinton Center in 2009, which represented a total investment of approximately $30 million.