Kent State’s College of Business Administration conducted a study on the economic impact of the half marathon, led by Shawn Rohlin, Ph.D., of the university’s Department of Economics.
The BMO Harris Bank Madison Mini-Marathon created a total economic impact of approximately $5.4 million, according to the Kent State study.
“Our goal with the BMO Harris Madison Mini-Marathon is to produce a great running event that has a positive long lasting impact on our participants, volunteers, partners and community,” said Jeff Graves, president of Vision Event Management. “The results of this economic impact report is just one example on how the Madison Mini-Marathon is fulfilling our goal.”
The marathon generated a direct spending increase of approximately $2 million and an indirect spending total of about $3.4 million, according to the Kent State study.
Rohlin said indirect spending is additional money spent by other people who didn’t participate in the race. For example, a waitress gets a $10 tip from a runner, and then the waitress uses the $10 to buy lunch herself the next day, which goes back in to the local economy.
“The economic impact of the Madison Mini-Marathon was considerable with a large share of the effect coming from out-of-town participants,”
The boost in economic activity also generated the equivalent of 109.5 new full-time jobs. The study was conducted by collecting data through surveys distributed to participants and spectators after the event took place.
For more information about the BMO Harris Bank Madison Mini-Marathon, visit www.madisonminimarathon.com
For more information about Kent State’s College of Business Administration, including its Department of Economics, visit www.kent.edu/