<body><div>September 25, 2024 – The State Fair of Texas is proud to announce its significant contribution to the North Texas economy, generating up to $680 million last year. This impressive impact underscores the State Fair’s vital role not only as a beloved cultural event but also as a major economic driver for the region. An economic impact study performed by Michael C. Carroll, Ph.D. and the Economics Research Group at the University of North Texas evaluated the economic impact the 2023 State Fair of Texas had on the Dallas-Fort Worth economy. The core impact of the 2023 State Fair was estimated at $422 million, and the secondary impact was estimated in a range of $140.3 to $258.3 million, which equates to a total estimated impact range of $562.3 to $680.3 million. “The State Fair of Texas serves as a vital economic engine for the region, generating millions in revenue and supporting thousands of jobs,” said Michael C. Carroll, Ph.D. “Its ability to attract tourists and promote local businesses not only highlight the cultural significance of the State Fair but also to reinforce its role in driving economic growth and community engagement throughout the state.” Each year, the State Fair attracts millions of visitors, offering an array of attractions, performances, and delicious food that celebrate the rich heritage of Texas. The Fair creates thousands of jobs, supports local businesses, and boosts tourism, making it a cornerstone of the North Texas community. “We’re more than just a fair, we are a key player in the economic landscape of North Texas,” said Mitchell Glieber, president of the State Fair of Texas. “We are proud to provide a platform for local vendors, artisans, and performers, while creating an unforgettable experience for our fairgoers.” The economic impact includes: Job Creation: The Fair supports thousands of jobs, from event staff to local vendors. Tourism Boost: Attracting visitors from across the state and beyond, the Fair enhances the tourism sector, benefiting hotels, restaurants, and local attractions. Local Business Support: The Fair partners with hundreds of local businesses, providing them a unique opportunity to showcase their products and services. In addition to its economic contributions, the State Fair of Texas is dedicated to giving back to the community through educational programs, scholarships, and support for local nonprofits. The State Fair contributed $15.8 million through combined philanthropic giving and funding provided to the City of Dallas in 2023, due to the results of the prior year’s Fair. This includes dollars given back to the City of Dallas for historical preservation and improvements at Fair Park, grants and sponsorships for other nonprofits serving the South Dallas/Fair Park area, signature community programs like Big Tex Urban Farm, the Big Tex Business Masterclass Program, and the Big Tex Scholarship Program, to name a few, and support for Fair Park educational facilities. These initiatives ensure that the State Fair’s impact extends far beyond its 24-day run. The results of this study were separated into core and secondary activity. The core activity includes operations and capital spending, visitor spending and vendor employee spending, and is all based on State Fair of Texas audited financial statements and attendance records. The impact from this core activity, amounted to more than $422.2 million in economic impact for the DFW region. It generated 4,486 jobs and provided $70.5M in federal, state, and local tax revenues. The secondary activity is just as significant. The economic impact from vendor sales ranges from $78.2 million to $196.2 million depending on the sq. ft. sales selected. The corresponding fiscal impact range is $15.2 million to $38.2 million. Additionally, the football games are estimated to bring $62.1 million in economic impact to the DFW region. Note, the exact impact from the Texas Auto Show (TXAS) was not estimated because the data was not available. The detailed discussion provided does show it has a significant impact on the economy and, perhaps more importantly, each fairgoer’s overall experience. The previous economic impact study was performed on the 2016 State Fair of Texas, also by the Economics Research Group at the University of North Texas. The core impact of the 2016 State Fair was estimated at $307.6 million, and the secondary impact was estimated in a range of $103 to $192.3 million, which equated to a total estimated impact range for the 2016 State Fair of $410.6 to $499.9 million. The results of the new study show meaningful growth in the State Fair’s impact on the North Texas economy. The 2024 State Fair of Texas will run from Friday, September 27 to Sunday, October 20, featuring a diverse lineup of attractions, live entertainment, and the return of fan-favorite foods. As preparations continue, the Fair is excited to welcome visitors and showcase the vibrant spirit of of the Most Texan Place on Earth. <figure><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=2xRNws_0vj1aerz00" alt="https://img.particlenews.com/image.php?url=2xRNws_0vj1aerz00" width="1536" height="639" ><figcaption>Big Tex</figcaption></figure></div></body>

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State Fair of Texas Generates up to $680 Million Economic Impact for North Texas

September 25, 2024 – The State Fair of Texas is proud to announce its significant contribution to the North Texas economy, generating up to $680 million last year. This impressive impact underscores the State Fair’s vital role not only as a beloved cultural event but also as a major economic driver for the region.