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Aug. 1 Visit Lake Norman’s efforts in recruiting and hosting events over the last year have paid off in the millions to the local economy, generating an estimated $23,057,380 in direct visitor spending to Cornelius, Huntersville, and Davidson. The events brought in approximately 81,829 attendees to the towns between July 2011 and June 2012, a 49.2 percent increase over the previous fiscal year. These visitors propelled the economy forward and saved local residents $430 in taxes per household.
According to the N.C. Department of Commerce, every $98,000 in visitor spending supports one N.C. job and each non-resident dollar spent generates twenty-five cents in wages and salaries, meaning VLN’s contribution equaled $5,764,345 in income to residents and helped sustain 235 jobs in the past year alone.
On a statewide level, the leisure and hospitality industry has led N.C.’s employment growth since 2011, with domestic visitors spending a record $18.4 billion across the state, generating $2.8 billion in tax revenues and supporting over 187,900 jobs.
The travel and tourism industry has consistently commanded the top spot in employment growth for the national economy over the last few months as well, with one in nine jobs depending on travelers. The U.S. Travel Association reported earlier this month that since March of 2011, the travel industry has created 271,000 new jobs, a growth rate of 26 percent faster than any other sector of the economy.Lake Norman Real Estate Charlotte Real Estate Lake Norman Homes for Sale Lake Norman Real Estate Charlotte Homes for Sale
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