Yadkin Valley Economic Development District, Inc.
3800 River Road
Boonville, NC 27011-0309
Phone: (336) 679-2200
Surry County Demographics—Hosted by Northwest Piedmont Council of Governments
Yadkin County Demographics- Hosted by Northwest Piedmont Council of Governments
2007 Yadkin Valley Wine Festival Economic Impact Study
This is the economic impact data report for the 6th Annual Yadkin Valley Wine Festival held May 19, 2007. The financial data is based on conservative estimates of visitors who attended the event and the questionnaire data provided by the Elkin Recreation and Parks Department.
The data is divided into two groups (day-trippers and overnighters) in order to calculate their individual economic impact. The vendor data is not included because of the minimal impact. Their proximity to the event and the event lasting a single day was not restricted their spending during the event. The total event economic impact is a summation of the spending by both the day-trippers and overnighters.
There were 359 completed visitor questionnaires used to determine the visitor’s economic impact of the festival. The visitor’s questionnaire asked if the Yadkin Valley Wine Festival was the primary reason the respondent was visiting the county. All those who stated the festival was not the primary reason was calculated at 4.74% of the visitor population and classified as casual visitors. The casual visitor percentage was removed from the total population because the festival was not the primary reason for visiting Surry County. That calculation resulted in 474 visitors being removed from the most conservative visitor estimate size of 10,000. That left a potential visitor pool of 9,526.
The questionnaire issued to visitors requested some demographic data (zip code, gender, number of adults who attended, and number of children who attended). The results of the zip code data showed that 11.7% of the visitors were local residents of Surry County and that 83.56% of the visitors were non-residents (visiting from outside of Surry County). The local visitor percentage (11.7%) was removed from the primary visitors leaving 8,356 non-residential visitors (tourist).
The visitor’s questionnaire asked how many days and nights the respondent stayed during their visit. There were two dichotomous groups created by their responses, day-trippers (68% of the visitors) and overnighters (32% of the visitors). The overnighters stayed at least one night and some stayed as long as 3 nights. The average overnight group stayed 1.93 nights. The estimated number of day-trippers was 5,682 (calculated by multiplying the percentage of day-trippers by the number of non-residential visitors). The estimated number of overnighters was 2,674 (calculated by multiplying the percentage of overnighters by the number of non-residential visitors).
The questionnaire contained a section on spending during the event. There were six distinct questions asking the amount spent or expect to spend during their stay. The spending areas were food, shopping, lodging, transportation, entertainment, and other. The two respondent groups were segregated in order to provide averages for each category. The average day-tripper spent $31.60 during their visit. The average overnighter spent $172.75 during their stay.
Total Expenditures Per Group and Festival:
Day-Trippers 5,682 (primary visitors) * $31.60 = $179,551.20
Overnighters 2,674 (primary visitors) * $172.75 = $461,933.50
Total Festival Economic Impact (Day-Trippers + Overnighters) = $641,484.70
An Ideal Climate
Yadkin Valley is a great place to live and a great place to do business. A strategic location, favorable business climate, and progressive philosophies encourage entrepreneurship and foster steady growth, even in the midst of changing times. This business climate fosters innovation and combines the best of small-town advantages with major-market access.
Best of Both Worlds
This region has it all: scenic surroundings, uncongested cities, low crime rates, family friendly communities, state-of -the-art health care and excellent schools, plus a favorable business climate and strategic access to nearby metropolitan areas, such as Winston-Salem, Greensboro and Charlotte. These and other important markets are readily accessible for added marketing and work force potential.
In addition to well-educated, dedicated workers, the region’s many business benefits include favorable tax rates, customizable education and training programs, affordable real estate, available sites, and profit driven development incentives. North Carolina rewards businesses and industries that invest in the future. Eligible firms can get state tax credits for investing in machinery and equipment, research and development, new jobs, and training.
Surry Community College – Your Business Partner
Conveniently located in Dobson, Surry Community College offers excellence in education and is a consistently reliable source for bright and resourceful graduates. Varied work force training programs are available to meet the needs of area employers. Continuing education classes help workers learn new skills, refine existing skills, enhance their motivation, and keep pace with changing trends in every field.
The college plans ahead to help employers and employees adapt to today’s competitive global economy. The college’s ongoing retraining programs help smooth new transitions for young and old workers alike. The college is dedicated to retraining workers so they’re well qualified for new technology, new applications and current market demands.
Surry Community College works as a partner with area businesses and industries to meet their unique and evolving needs. The can develops specialized training and will even do on-site training that is customized to each employer’s needs.
Whether you want a downtown retail storefront or a strategically located industrial site, there are many places and spaces from which to choose. You’ll find affordably priced sites with strategic roadway, airway and rail access. You can also count on reliable, cost-effective water, sewer, electric, natural gas and telecommunications service.
Elkin Corporate Park is a 100-acre site located on Interstate 77 and U.S. Highway 21 in Elkin. Elkin Business Park is an 80- acre park on U.S. Highway 21. From here, you are less than an hour away from Interstates 40, 74, 81 and 85.