A new expansion study completed by CSL Inc. shows that our facility is poised for an optimal expansion that could offer exhibition space not yet offered in Hamilton County and the Greater Cincinnati area.
As CT Consultants and Megan Construction began investigating, we realized there is a gap in Hamilton County exhibit space. We found that if you need more than 20,000 square feet, but less than 50,000 square feet, there is nowhere to go in Hamilton County. That means our Convention Center is losing business that requires that type of space, including trade shows, meetings, banquets, and conventions.
We have been very fortunate to see steady growth since our 2012 expansion, with 70 percent occupancy growth on weekdays and 80 percent on weekends. This high growth rate shows exciting demand and can support an additional expansion in the future. This expansion would double the size of our current facility, generating around $27.6 million in indirect and direct spending.
Current expected debt service cost on 30-year bonds is projected to be less than $400,000 per year. This expansion project fits within the current financial framework that exists—only 13 percent of the current residual fund. Hamilton County would have 90 percent to fund other viable projects. We would not be depleting that fund, and we would be giving back $8 million to $10 million a year as we open the doors. That’s the beauty of this project.
If you are interested in learning more about the project and what it could offer to Sharonville and the surrounding areas, please feel free to contact us at sccinfo@cityofsharonville.com .
Best Regards,
Jim Downton, Executive Director
