The report illustrates the economic impact of both tourism and operational spending associated with Riverbanks and proves that the Zoo and Garden is a powerful economic driver within the local economy. Most notably, the study revealed that Riverbanks generated $60.8 million in local business sales, $42.8 million of which was generated as a result of travel-related expenses associated with tourists who visited Riverbanks and $18 million as a result of Riverbanks operations.

To determine tourism spending related to a trip to Riverbanks, a team of researchers surveyed 5,400 guests during their visits to the Zoo. The survey only focused on the travel-related expenses of those Zoo visitors who live outside a 50-mile radius of Richland and Lexington counties and whose primary reason for their trip to the Midlands was to attend Riverbanks. This allowed the researchers to analyze new dollars flowing into the economy attributed to the existence and operation of Riverbanks.

To establish the local economic impact of Riverbanks operations, the research team examined the fiscal year 2008 operating budget, excluding public funds received from the taxpayers of Richland and Lexington counties, and determined monies spent in the area as a direct result of the Zoo’s existence.

“Economic impact studies are challenging and can be conducted in a variety of ways,” said Satch Krantz, executive director of Riverbanks Zoo and Garden. “We feel that our study is a true representation of the Zoo’s economic impact on the local economy.”

Not only does Riverbanks have a positive impact on local business sales, it also has a significant impact on job creation in the Midlands. According to the study, Riverbanks generated 723 jobs in the community, which resulted in $18.3 million in local business employee compensation (comprised of salaries and benefits). This figure does not include the 427 people employed during peak season by Riverbanks Zoo and Garden and ARAMARK (Riverbanks’ food and gift contractor).

Riverbanks’ operating budget for fiscal year 2008 was $8.1 million and during that time period attendance was 922,665 (955,542 visited the Zoo in 2009). The study revealed that the total annual spending in the local economy by tourists who visited Riverbanks was $29.5 million dollars; this includes monies spent on lodging, food and beverage, retail, gasoline and transportation.

“While Riverbanks relies on taxpayer dollars to supplement its operating budget, it should be noted that we are nearly 70% self-sustaining based on revenues generated from attendance and in-park spending,” said Krantz. “In addition, the Riverbanks Society contributes a significant amount in private funds, closely rivaling the totals generated by each county.”

Based on fiscal year 2009 attendance, the Zoo averaged approximately 80,000 visitors each month – nearly 20,000 more people than the population of the city of Greenville.

While visiting the Zoo last year, guests spent $1.8 million on gifts, $1.9 million on food and $557,000 on weddings and other private events, totaling more than $4 million on in-park spending. As a result of these expenditures, Riverbanks collected and paid nearly $60,000 in hospitality taxes to the city of Columbia.

Riverbanks Zoo and Garden is an integral part of the Midlands economy purchasing goods and services from many local vendors. In a single year at Riverbanks, more than three tons of hot dogs will be served to guests, visitors will consume 191,000 gallons of soft drinks, 941 miles of toilet paper will be used and more than 60,000 trash bags will be filled.

This study measured only the financial contribution of Riverbanks, and not the social benefits, such as the educational and cultural enrichment of children and families within the community, or other less measurable economic benefits such as decisions by corporations to locate in Richland and Lexington counties because of Riverbanks or an increase in market value of properties located adjacent to Riverbanks.