Press Release

FOR IMMEDIATE RELEASE 
March 11, 2004

CIAA Tournament Generates $11.5 Million
in Visitor Spending

Contact: Martin Armes, 919-645-2654

Raleigh, N.C.-- Once again, despite some adverse winter weather, the recent Central Intercollegiate Athletic Association (CIAA) Basketball Tournament provided a much-needed boost for the area's economy as the overall impact rose 12.7 percent to $11.5 million -- up from $10.2 million in 2003.

This economic impact information has been compiled by the Greater Raleigh Convention and Visitors Bureau (GRCVB) using an economic impact model developed by the International Association of Convention and Visitor Bureaus and used nationwide; however, it has been adjusted to reflect the CIAA average daily room rate figures.

"The CIAA Tournament continues to be a big winner for both the conference's 12 member institutions and our region," said Dave Heinl, President and CEO of the GRCVB. "Due to tremendous teamwork between the conference and the local communities, the tournament has enjoyed unprecedented success its first five years in Raleigh and we look forward to touting these many successes as we begin the bid process for the 2006-08 tournaments."

The tournament continues to enjoy record-breaking success in Raleigh at the RBC Center with total turnstile attendance surging from 42,811 in Winston-Salem in 1999 to 54,730 in Raleigh in 2000 to 74,729 in 2001, 80,446 in 2002, 80,788 in 2003 and 90,855 in 2004 (a 112-percent increase over 1999). When complimentary tickets utilized for community initiatives, sponsor and school administrator passes and free youth group entries are accounted for, attendance for the CIAA week at the RBC Center topped 104,000 in 2004.

The economic impact for the area was $7.8 million in 2000, $8.8 million in 2001, $9.7 million in 2002 and $10.2 million in 2003. Equally important, the 2004 tournament generated more than $983,000 in tax revenue alone from only hotel, meal and sales taxes. The CIAA Tournament, which is the Triangle region's largest annual sporting event, also generated 25,887 total hotel room nights, a 24.1-percent increase from the previous year.

Besides this particular economic stimulus, having this tournament in Wake County exposes the Capital City area for many other potential sports championships, events and meetings with millions more in future spending. Raleigh will also host the tournament in 2005. These many successes will certainly be shared as the bid process begins this summer to host the 2006-2008 tournaments, with a decision by conference officials expected in the fall.