The Embassy Cultural Center Foundation is in the planning phase of conducting an economic impact study of the McGregor Hall Performing Arts Center on the Henderson economy.
The foundation recently sought a proposal from the Municipal Research Lab at North Carolina State University for completion of the study. Representatives from NC State responded with a proposal that included a breakdown of proceedings, a completion timeline and a total project cost of $17,500.
The proposal included the following proceedings:
- Conduct an examination of pertinent data including economic, demographic, income, and employment, as well as studies that relate to the economy of the town.
- Conduct an examination of pertinent data from McGregor Hall, including costs associated with maintaining the venue and revenues from events.
- Conduct an examination of the local tax receipts and spending patterns throughout the county.
- Meet with members of the foundation, as well as local community and business leaders and other stakeholders, to gain insight into the role of the venue in the community, as well as to gain a better understanding of the local economy.
- Establish conclusions and recommendations for action, including recommended actions and strategies to guide the town in its development plans, as well as to overcome identified shortcomings.
According to NC State representatives, the completion time for the study is estimated at four months, with the project to begin on January 7, 2019, and the final report to be submitted by May 6, 2019.
Researchers would begin the process by meeting with Embassy Cultural Center Foundation representatives, requesting data on McGregor Hall and reviewing local government tax receipts. A draft of the report would then be submitted to the Center for review by mid-April, with final presentations and findings reported in May.
According to Dennis Jarvis, II, director of the Henderson-Vance Economic Development Commission, the study would serve a twofold purpose, “The Embassy Foundation has reached out to NC State in regards to this study to get a better understanding of the current economic impact of McGregor Hall as well as to establish ways we can expand upon that impact moving forward.”
The next step in the process, Jarvis said, is for community partners to discuss the proposal and to determine how to proceed. “There will be discussions with the Downtown Development Commission, the County, the City, McGregor Hall and the community in general to determine our next move.”