Update to the Cool Insuring Arena Economic Impact Analysis

The Civic Center is a community asset. It benefits communities and businesses in three counties. — Assemblyman Dan Stec quoted in The Post Star

In 2016, we evaluated the economic impact of the Cool Insuring Arena (then known as the Glens Falls Civic Center) on the tri-county region of Warren, Saratoga, and Washington, NY from August 2015 – July 2016. This analysis can be found here. Using this analysis to demonstrate the economic value of this asset for the local and regional community, the Coalition sought funding for capital improvements and sold its naming rights to Cool Insuring thus changing the name to Cool Insuring Arena.

In 2018, the Adirondack Civic Center Coalition (formerly the Glens Falls Civic Center Coalition) retained Camoin 310 (formerly Camoin Associates) to complete an update to the economic impact analysis based on the two subsequent years: August 2016 – July 2017, and August 2017 – July 2018. The results of that study are summarized in the slide-deck above. 

The updated analysis found that visitation figures steadily increased over the past two years, due in part to the growing attendance at the Adirondack Thunder Hockey games. Visitation during August 2016 – July 2017 and August 2017 – July 2018 increased approximately 16% and 38%, respectively, over August 2015 – July 2016 year, resulting in a notable economic impact increase. Our analysis found that operation of the arena supports upwards of 155 jobs and over $4.3 million in earnings, locally. These figures include the direct jobs and earnings that occur at the Cooling Insurance Area as well as the indirect jobs and earnings that occur within the three-county region as a result of the arena.  In addition, the arena garners a strong sense of community and promotes a vibrant, walkable downtown corridor in Glens Falls. Findings of this analysis were featured in The Saratogian

In November of 2018, Michael N’dolo and Dina DeCarlo joined the Adirondack Civic Center Coalition in presenting the many positive impacts of the Cool Insuring Arena on the local community. Please see the presentation above.

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