Viking Classic economic impact numbers have arrived
Thursday morning, Magnolia Marketplace got some numbers we’ve been waiting on for several weeks.
A study commissioned by the Mississippi Development Authority and conducted by Mississippi State’s College of Business and its Extension Service took a look at the economic impact of the PGA Tour’s Viking Classic, played every year at Annandale Golf Club in Madison.
Surveyors asked 2,500 attendees at last fall’s Viking how much money they spent on things like food, gas, hotel rooms, how much money they spent at the course on memorabilia, etc.
Here’s what they found:
The total economic impact of the tournament is $22 million. That includes a value added total of $12.5 million, which reflects things like return in rents, wages, interest and profits, according to a press release from MSU. That economic activity created 362 jobs, including 280 direct jobs and 77 indirect jobs.
“It’s a significant amount,” said Dr. Becky Smith, an economist for the College of Business who coordinated the project with Garen Evans and Al Myles, MSU Extension economists in the agricultural economics department.
The total estimated impact on labor income came in at $7.2 million, including $4.9 million worth of income directly attributable to the event, and an another $2.3 million from indirect and induced impacts. Estimated sales taxes collected from Viking-related spending was $1.5 million.
Before this latest study, the last economic impact analysis of the Viking Classic came in the mid-1990s and pegged it at $20 million. It’s no surprise at all that the new numbers came in over that.
These figures will be a part of the sales pitch for tournament organizers when it comes time to sit down with Viking Range to start renewal negotiations. Viking’s title sponsorship contract expires after this year’s tournament, which will be played in July instead of September.
The MDA paid MSU $30,000 to conduct the study. Surveys were taken by undergraduate students at MSU’s College of Business and were gathered during the three-day run-up to the tournament and during the four days of play.