GateKeeper debut equals ROI
May 6, 2013 at 9:39 AM
New roller coasters at Cedar Point inflate more than just thrill-seeker’s spirits.
They elevate the city’s bottom line.
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City officials have predicted admissions taxes will generate about $2.65 million this year. The tax, a 3 percent fee tacked onto ticket sales at Sandusky-based entertainment venues, depends largely on attendance at Cedar Point, the undisputed giant in the local entertainment industry.
The forecast seems optimistic, considering that only once since 1998 has a yearly admissions tax topped $2.65 million.
Even so, local finance experts are banking on the overwhelming buzz surrounding Cedar Point’s newest attraction, GateKeeper, a record-breaking winged roller coaster that debuts Saturday.
Financial data from past years shows Cedar Point’s new roller coasters do indeed benefit everyone, even city taxpayers.
Since 1998, Sandusky’s admissions tax grew every year Cedar Point unveiled a new roller coaster, compared to the year prior, according to a Register analysis of city data obtained through a public records request.
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