The economic impact of The Monument

Published: Aug. 22, 2023 at 6:50 PM MDT
Email This Link
Share on Pinterest
Share on LinkedIn

RAPID CITY, S.D. (KEVN) - In November, of 2021 the venue decided to add an expansion to the arena.

Recently there was a study done that showed a year’s worth of the economic impact of the Monument.

This study was paid for by the city of Rapid City, The Monument, and Visit Rapid City.

“The study showed a total economic impact of 131 million which was just significantly greater than what it was in 2012, and it should have been because we built a new arena. What we learned from it is we have a very healthy economic impact and not only healthy but a very strong, robust impact,” said Craig Baltzer, executive director of The Monument.

By doing a study like this it helps the arena be able to manage their bookings.

When booking events, the Monument looks at three different factors such as does it benefit the community, does this event bring in visitors and locals, and will this show make money for the Monument.

Shows that hit these three factors are LNI and The Black Hills Stock show and Rodeo.