Results identified in an economic impact study.
The week-long AT&T Classic, a prestigious annual golf tournament featuring the top players on the PGA Seniors Tour, today announced that it contributes an estimated $19.2 million each year to the greater Los Angeles Area, with a direct impact in the Santa Clarita Valley of $8.3 million. The results were identified in an economic impact study conducted by Economics Research Associates. According to Brian Fitzgerald, executive director for the AT&T Classic, the study was used to measure and analyze the gross revenue generated in the region through the event, which also directly benefits local charities.
“Over the past 17 years, the AT&T Classic has grown into one of the top Champions Tour events,” said Fitzgerald. “Since 2001 the Valencia Country Club has hosted the tournament and over this period the Santa Clarita community has embraced the AT&T Classic as its own signature event. It’s great to see the direct financial impact that this successful and entertaining tournament brings to the area.”
The total economic impact related to hosting the golf tournament is calculated based on primary and induced levels.
The primary impact measures the initial first-round expenditures associated with tournament activities including tournament production, Tour player goods and services, spectator goods and services, hotels and lodging, media production, charitable contributions and sponsorship activities. The estimated primary impact is $8.35 million within Santa Clarita Valley. The induced, or multiplier, impact measures the subsequent rounds of respending the first-round primary impact expenditures in the region, which is estimated to be at $10.85 million. The total economic impact is the sum of the primary and induced impact, resulting in a $19.2 million impact on the greater Los Angeles region.
The AT&T Classic has also actively raised funds for local charities, donating more than $400,000 to charities throughout Santa Clarita. Last year the AT&T Classic announced the extension of its agreement with the Valencia Country Club to host the tournament through 2007, with an option for 2008.
About Valencia Country Club
Since its public opening in 1965, the Valencia Country Club has been recognized as one of Southern California's premier golfing venues. Featuring a masterful design by Robert Trent Jones Sr., Valencia is perhaps best known for its pristine putting surfaces and traditional hole designs. Typifying the best of Jones' creations, Valencia offers unique rewards and penalties for players of all skill levels, from the novice to the most seasoned professional. For additional information call 661-254-4401 or visit www.valenciagolfclub.com
AT&T Inc. is one of the world’s largest telecommunications holding companies and is the largest in the United States. Operating globally under the AT&T brand, AT&T companies are recognized as the leading worldwide providers of IP-based communications services to business and as leading U.S. providers of high-speed DSL Internet, local and long distance voice, and directory publishing and advertising services. AT&T Inc. holds a 60 percent ownership interest in Cingular Wireless, which is the No. 1 U.S. wireless services provider with more than 52 million wireless customers. Additional information about AT&T Inc. and AT&T products and services is available at www.TheNewATT.com.