- Economic & Fiscal Impact Analysis
- Arts, Entertainment, & Recreation
Economic & Fiscal Impact Analysis of the U District
The U District is a proposed sports and entertainment district to be developed in downtown Utica, NY. The development plan includes improvements to the Utica Memorial Auditorium (the “Aud”), as well as construction of three new venues: the Utica Gaming Center, Nexus Sports Center, and an American Craft Beverage Experience. The U District plan also includes an incubator element to be integrated into the American Craft Beverage Experience facility.
Prior to breaking ground on the project, Oneida County commissioned Camoin Associates to quantify the potential economic and fiscal impacts of the proposed U District on taxing jurisdictions and the local economy, which are summarized in the infographic pictured. The economic analysis concluded that the U District could have an annual economic impact of nearly $113 million in sales throughout the region upon full buildout. U District operations have the potential to support over 1,180 new jobs and nearly $37 million in employee earnings throughout the county. In addition, the U District could add $10.6 million in annual property tax revenue in the long term, $3.9 million in annual sales tax, and nearly $390,000 in annual occupancy tax revenue.