1988-07-08 Resolution 10 - Laserfiche WebLink

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In addition to many new industrial developments, the South Bend area added a variety of other new developments such as health care facilities, shopping centers, hotels and •' condominiums, and office buildings for its growing service sector. The City of South Bend is part of a retail trade area with an estimated population of 792,000 known as the Michiana Region. Retail sales and effective buying income are shown in a table on page 18 of this Official Statement. The University of Notre Dame, although located. just outside the City, has a significant impact on the economy and character of the City. The University Director of Community Relations recently reported that the day-to-day operating costs of the University translate into an estimated $I .million-a-day contribution to the Michiana community. The total economic impact of the University on the community is estimated to be $435 million a year. Convention trade and tourism comprise a growing sector of the South Bend area economy. A 1983 statewide survey ranked St. Joseph County second in .travel expenditures with $124 million taken in by local business (the study excluded Indianapolis/Marion County). The study showed the County had a $27 million travel- generated payroll and 3,300 jobs in 1983. The City anticipates additional tourism- related revenues from the Olympic-class East Race Waterway, the new Stanley Coyeleski Regional Stadium, and Special Olympics, which the City co-hosted with the University of Notre Dame in 1987. South Bend offers a variety of hotel and convention facilities. Century Center, the City's convention center, opened in the downtown area in 1977. The center contains meeting rooms, a museum, visual arts gallery, and a 700- seat theater. In 1986, the South Bend area hosted 101 conventions with 143,724 delegates representing an economic impact in excess of $29 million. Total lodging tax receipts generated from the County-wide S% tax on hotel/motel beds, were $924,000, a 9% increase over 1985. Tax receipts generated in 1984 and 1983 were $797,844 and $634,177, respectively. Major Employers in South Bend Commercial/Industrial Approximate Employer Product/Service Employment Allied Signal, Inc. Airplane & Auto Parts 2,800 AM General Corp. (South Bend) Military & Postal Trucks 2, 175 Allied Products Corp. Metal Stampings 783 1st Source Bank Financial Services 672 Martin's Super Markets Retail -Food 639 RACO, lnc. Electrical Switches & Boxes 626 Koontz Wagner Electric Co., Inc._ 500 Indiana Bell Telephone Telephone Services 475 The Kroger Company Retail -Food 473 L.S. Ayres & Co. Retail -Department Store 450 -14-