Grand Opportunities Pending

Based on spending history at other national political conventions, Bob Isaacson, chief analyst at Minnesota’s Department of Employment and Economic Development, says that visitors to the Twin Cities for the convention—attendees, media, event planners—will likely spend $64.6 million here.

All told, though, Isaacson expects the convention to produce $148 million in new spending in the region. To arrive at that number, he assumes that about $30 million (half of the $60 million) to be raised by the host committee for the convention will come from out of state. In addition, the federal government has committed to grant $16.3 million as a subsidy to the Republican National Committee for convention operations and approximately $37.5 (but up to $50) million to cover heightened post-9/11 security requirements. In addition, Isaacson estimates that the convention will generate work that’s the equivalent of 2,800 full-time jobs.

What’s harder to tally, but potentially no less valuable, is the exposure Minnesota gains. A national audience will be focused on the main event, but bound to form an impression of the Twin Cities at the same time—our ability to host big conventions, our economy and work force, the livability and amenities of the metro area. The image that’s formed will depend greatly on how well the convention itself goes. (Remember 1968?) But as local organizers are learning, it would be a mistake to limit their preparations to the goings-on at the Xcel Energy Center.

“Cities that host the convention fail to dream big enough,” one Republican Party official said to Dady on a site visit here—advice that she and many others are taking to heart.

“For four days, the eyes of the entire world are going to be focused on the Twin Cities,” says Jeff Larson, CEO of the Minneapolis–St. Paul Host Committee for the 2008 Republican National Convention, the organization responsible for raising the convention’s $60 million operating budget and for recruiting the 10,000 local volunteers required to staff it. Larson was a key figure in landing the convention, and calls it a “a once-in-a-lifetime opportunity” to showcase the Twin Cities as a great place to live, do business, hold conventions, and spend tourism dollars.