According to their joint 2011 annual report, the economic impact of the Cobb Galleria Centre and the Cobb Energy Performing Arts Centre grew in 2011, as both facilities exceeded budgeted revenues. Last year, the centers combined to create 1,240 jobs and had an overall economic impact of $124 million on Cobb County and the state of Georgia. In 2010, the sites created 1,080 jobs and had an economic impact of approximately $114 million.
The annual reports are compiled by an independent consulting firm.
In a press release, Michele Swann, the general manager and CEO of the Cobb-Marietta Coliseum & Exhibit Hall Authority, attributed the increased economic impact largely “to a 48 percent increase in hotel room nights generated as a direct result of the [Galleria] convention center activity.” The authority governs both the Galleria Centre and the Energy Centre.
Despite the increased economic impact and the spike in hotel stays, the Cobb Galleria actually hosted fewer events in 2011 than in 2010 (652 to 694) and drew in fewer attendees (336,000 to 346,000). Meanwhile, the Cobb Energy Centre hosted 254 events in 2011 – down from 263 the year before – but saw its attendance rise from 240,000 in 2010 to 254,600 last year.
According to a recent article in the Marietta Daily Journal, Cobb Galleria officials “say there is not much expectation for major increases in revenues or events next year as the economy continues to recover.”
As detailed recently on this blog, the Cobb Galleria is undergoing a slate of renovations that are scheduled for completion in June of this year. Chief among the improvements is a facelift for the 25,000-square-foot John A. Williams Ballroom, which will receive new carpeting, wall coverings, lighting fixtures and paint.
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