AG 2010 06 21 - Laserfiche WebLink

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.~ FY 2010/2011 Budget Summaries • The meeting incentive program that began in December of 2009 with Association Market in North Carolina has been expanded to other markets and is having some success attracting last minute business. Expenditures to continue that program through FY 2010/2011 is included in each market. • The expenditures utilized to service groups visiting the destination in FY 2009/2010 are being allocated in the newly created Destination Services Department beginning FY 2010/2011. Corporate: Based on economic data the corporate and incentive travel market is poised to see potentially strong growth. Less media attention on "junkets" and the "AIG effect" should allow corporations and third party planners to once again plan corporate events. Our region is not known as a "junket" destination and has a great opportunity to introduce itself to this market segment. Participation with organizations like the Society for Incentive Travel Executive and it's newly formed Southeast Chapter will be beneficial. In addition, sponsorship of a new corporate and incentive show in Baltimore in June 2011 (AIBTM 2011 Americas Incentives, Business Travel & Meeting Exhibition) is expected to produce positive results. SMERF: The Social, Military, Education, Religious and Fraternal markets are expected to increase for the coming budget year. With expected expenditures at just over 14% of the FY 2010-2011 sales budget, the CCTA is investing 5% more of the overall sales budget into recruiting these markets. A strong emphasis is still placed on the military market as well as the religious meeting planners market. The newly created services department will also handle some of the wedding event planning that previously fell into this market segment. Sports: A large portion of the FY 2009/2010 budget was allocated to national and international events including the ITU Duathlon Championships and the USA Volleyball tournament. For FY 2010/2011 there has not been any additional large scale events booked. The amateur sports market will continue to be a priority. Expenditures expected to remain the same are advertising and tradeshow participation. The only reduction in spending will be in the sponsorship and bid fees area. An analysis of participants in CCTA sponsored sporting events began in January 2010 with the preliminary results producing a solid baseline that can be utilized in developing a fair and equitable economic impact rebate formula for local rites holders. Attachment number 1 F-1 Page 62