Attendance at Sedgwick County attractions
Trends in attendance at Intrust Bank Arena, the Sedgwick County Zoo, and Sedgwick County Park.
18
Oct
10
Oct
Intrust Bank Arena loss for 2019 nears $5 million
A truthful accounting of the finances of Intrust Bank Arena in downtown Wichita shows a large loss. The true state of the finances of the Intrust Bank Arena in downtown Wichita are not often a subject of public discussion. Arena boosters cite a revenue-sharing arrangement between the county and the arena operator, referring to this as profit or loss. But this arrangement is not an accurate and complete accounting, and it hides the true economics of the arena. What's missing is depreciation expense. There are at least two ways of looking at the finance of the arena. Nearly all attention…
29
Feb
Intrust Bank Arena economic impact holds mistake
A report on the economic impact of the first ten years of operation of the Intrust Bank Arena in downtown Wichita incorrectly reported tax revenue. Recently Intrust Bank Arena in downtown Wichita promoted the results of an analysis of the economic impact of the arena through its first ten years of operation. [1. INTRUST Bank Arena Reports Economic Impact Study Results Through First 10 Years. February 14, 2020. Available at https://www.intrustbankarena.com/release/366/intrust-bank-arena-reports-economic-impact-study-results-through-first-10-years/.] The arena partnered with the Center for Economic Development and Business Research at Wichita State University to conduct the study. [2. Analysis by CEDBR, version 2, dated 1/6/2020. The…
10
May
The finances of Intrust Bank Arena in Wichita
A truthful accounting of the finances of Intrust Bank Arena in downtown Wichita shows a large loss. Despite hosting the NCAA basketball tournament, the arena's "net income" fell. The true state of the finances of the Intrust Bank Arena in downtown Wichita are not often a subject of public discussion. Arena boosters cite a revenue-sharing arrangement between the county and the arena operator, referring to this as profit or loss. But this arrangement is not an accurate and complete accounting, and it hides the true economics of the arena. What's missing is depreciation expense. There are at least two ways…
19
Mar
Wichita considers a new stadium
The City of Wichita plans subsidized development of a sports facility as an economic driver. Originally published in July 2017. This week the Wichita City Council will consider a project plan for a redevelopment district near Downtown Wichita. It is largely financed by Tax Increment Financing and STAR bonds. Both divert future incremental tax revenue to pay for various things within the district.[1. Weeks, Bob. STAR bonds in Kansas. Available at https://wichitaliberty.org/kansas-government/star-bonds-kansas/.] [1. Weeks, Bob. Wichita TIF projects: some background. Available at https://wichitaliberty.org/wichita-government/wichita-tif-projects-background/.] City documents promise this: "The City plans to substantially rehabilitate or replace Lawrence-Dumont Stadium into a multi-sport…
21
Jan
Retiring Sedgwick County Commissioner Dave Unruh praised
The praise for retired Sedgwick County Commissioner Dave Unruh can't be based on our region's accomplishments under his guidance. That is, if people are informed and truthful. In January a group of Wichita business leaders submitted an op-ed to the Wichita Eagle to mark the retirement of Sedgwick County Commissioner Dave Unruh. I quote portions here, with emphasis added: He easily won re-election because his constituents and the rest of us knew he was dedicated to strengthening our community, region and the state. ... In economic development Commissioner Unruh was chairman in 2006 when the board voted to build a…
02
Jul
For Hugh Nicks, a return to the backroom deal?
Remarks from a candidate for Sedgwick County Commission call for presenting a unified front to the public. Speaking to the Wichita Pachyderm Club, Sedgwick County Commission candidate Hugh Nicks called for leadership to end what he called "divisive behavior:" "We can’t have -- we can’t have the kind of divisive behavior that we have going on right now -- we just -- it’s just not -- it’s just not acceptable." His opponent in the August Republican Party primary election is Richard Ranzau, who currently holds the office. The "divisive behavior" that Nicks objects to takes several forms, but it's clear…
28
May
Downtown Wichita business trends
There has been much public and private investment in Downtown Wichita. What has been the trend in business activity during this time? According to the 2017 report from Wichita Downtown Development Corporation (now known as Downtown Wichita), over the past decade there has been $593,868,858 in private investment, $160,522,002 in public investment, and $171,087,276 investment in Intrust Bank Arena. That's $925 million of investment in downtown over this period, with more before. [1. Downtown Wichita. State of Downtown Report, 2017. https://downtownwichita.org/user/file/2017-state-of-downtown-report-download.pdf.] What has been the result of this investment? If you expected business growth in downtown Wichita, you may be…
13
Apr
Intrust Bank Arena loss for 2017 is $4,222,182
As in years past, a truthful accounting of the finances of Intrust Bank Arena in downtown Wichita shows a large loss. The true state of the finances of the Intrust Bank Arena in downtown Wichita are not often a subject of public discussion. Arena boosters cite a revenue-sharing arrangement between the county and the arena operator, referring to this as profit or loss. But this arrangement is not an accurate and complete accounting, and it hides the true economics of the arena. What's missing is depreciation expense. There are at least two ways of looking at the finance of the…
05
Dec
Briefs
Reminds me of the Wichita flag Wichita Eagle Opinion Line, December 5, 2017: "So Wichita wants to put its flag on license plates. I hope not. Every time I see it, it reminds me of how much it looks like the KKK emblem." I've noticed this too. Have you? Here is the center of the Wichita flag along with the blood cross used by the Ku Klux Klan. Wichita hotel resurgence? At the meeting of the Wichita City Council today, there was self-congratulation on the success of the city and its convention and tourism bureau in generating business for Wichita…