Wednesday, October 28, 2009
PURE MICHIGAN MATH
Let's do some calculations...
With the “formula” of $1 spent in tourism promotion we generate $2.86 in new tax revenue…
$5 million spent on Pure Michigan generates $14.3 million
$30 million spent on Pure Michigan generates $85.8 million
That’s a $25 million DECREASE in investment spending BUT a $71.5 million LOSS in expected tax revenue AS WELL.
($30 million - $5 million = $25 million less invested | $85.8 million - $14.3 million = $71.5 million less generated)
That’s $71.5 million NOT coming in to help with schools, municipalities, etc. Although, if you subtract the investment amount I guess that comes to a net loss of $46.5 million.
Now...I majored in English and Journalism and despise math, but even I can see this is much more than pocket change!
FOR MORE ON SUPPORTING THE PURE MICHIGAN INITIATIVE: http://www.milodging.org/node/1131