CALIFORNIA EVENT FUND
Nearly HALF of states across the country have a dedicated special event fund that helps local communities in those states attract exciting events from around the world.
These important investments help pay for the expensive bidding process in which event organizers ultimately decide where to host their event. The result is a return on investment that brings economic activity to local cities, counties, and communities that benefit from hosting these events.
While California is no stranger to hosting events, the state does not currently have a dedicated event fund, which means that cities and sports teams are often left to use their limited budgets to help attract events big and small to their region.
Historically, many corporate funders have helped finance the bidding process, but those contributions have decreased in recent years as bids for events have continued to grow.
An event fund would allow California to retain existing events and attract new events which would bring increased revenue, important jobs and community connections across the state.
“ Hosting events in San Diego is a tremendously important part of our
local economy—not only for event venues and hotels—but for our small businesses
and merchants. An event fund in California will help ensure we can continue to welcome people throughout the whole region.”
With state-of-the-art facilities; enviable weather; world-class cuisine; unrivaled beaches, mountains, lakes, and deserts; efficient highways; and dozens of commercial airports, California is a desirable destination for all sizes and types of events. With so much to offer, California should not be losing events to states like Texas and Florida, which both have a streamlined funding source to bring events to their states. Without a dedicated event fund, California will continue to fall farther behind as other states continue to win bids for events.
Events big and small bring important revenue to communities across California, as people stay in hotels or short-term rentals, dine in local restaurants, visit small businesses, utilize public transportation, and extend their stays beyond just the event window.
Many businesses are still recovering from the pandemic—the economic boon that events can have on local communities is hugely impactful and is a worthwhile investment.
“The Tri-Valley region has been home to some of the state’s biggest
youth sports tournaments, which brings revenue to our community
that helps fund public safety and local programs. But, our budgets are very tight
and in order to continue bringing these events to the Tri-Valley region, we need
the assistance of a statewide event fund that we can turn to for support.”
A dedicated event fund in California would give the state an opportunity to bring world-class events to the Golden State, boosting revenue, increasing jobs, connecting communities, and investing in the state’s future.
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The research and strategy needed to create a state-run California Event Fund will be funded by the CalTravel Foundation.
Please consider making a donation to the Foundation to help boost our efforts on this important statewide initiative.
“Keep up the very important work you are doing. I am extremely proud to be a member of this organization.”