WCCO.COM At The State Fair
Sep 2, 2009 10:56 pm US/Central
Good Question: How Much Does The State Fair Make?
(WCCO)
Parking: $11. Giant Slide Ride: $2. Fair profits: Priceless? With more than one million Minnesotans visiting the State Fair each year, how much money does the fair make?
One fairgoer guessed "$300 million!"
Not quite.
The idea that the State Fair is rolling in money is "one of the largest misconceptions," according to spokesperson Brooke Dillon.
According to the Fair's annual report, in 2008 revenues were $36.2 million. But "our costs, overhead is huge," Dillon said.
Expenses were $35.3 million, according to the report.
"Really we just netted over $900,000," Dillon said.
The State Fair is an independent entity, run by the State Agricultural Society. It is not in a city or a county, so there are no property taxes to be paid. However, because the society is a nonprofit, the money it makes has to go back into the operation.
"All of our revenue goes back into the fairgrounds. So transportation, maintenance and improvements, our premiums for competition winners, all that fun stuff is put back into the fair here," Dillon said.
Some of last year's profits helped fund a new Moo booth in the Dairy Barn, and a new roof on the cattle barn.
"Most of its revenue comes from gate ticket sales," Dillon said.
Last year, admission tickets brought in $13.4 million. The sales category, which includes the cut of revenue the fair takes from food vendors, merchandise and ticketed attractions provided $6.5 million in revenue. (The fair takes 30 percent of Haunted House and Giant Slide ticket prices, for example.)
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
Sept. 7: Day 12 At The Fair
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