Tuesday, April 15, 2014

What the Redskins marketing deal means for Loudoun County

Loudoun County's eight-year marketing deal with the Washington Redskins is paying off for the county, according to its economic development staff, though the "value" of a press backdrop or an on-air mention isn't likely to erase the angst surrounding the agreement.

Recent Washington Post reports suggest community frustration over Loudoun's decision to spend $500,000 a year in transient occupancy tax revenues to pay off the county's $2 million debt to the Redskins. According to a Loudoun staff report, transient occupancy taxes may be used to promote tourism, travel or "business that generates tourism of travel in the county." The economic development department contends that's exactly what the Redskins do.

The total estimated value of the marketing deal to the county between April 1, 2013 and March 31, 2014, considered the 2013 season, was $1.4 million. For the 2012 season, the first year of the marketing deal,  the value was $1.13 million.

"The county expects to receive over $8 million in total value over the term of the contract; approximately four times the county’s investment," Buddy Rizer, the county's economic development chief, wrote in the report. More here.

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