Okaloosa County BOCC — March 24, 2016 — I. f. Local Even Marketing

TOURIST DEVELOPMENT DEPARTMENT MEMORANDUM DATE: March 24, 2016 TO: Tourist Development Council FROM: Ed Schroeder, Tourist Development Department Director SUBJECT: Local Event Marketing Funding Guidance STATEMENT OF ISSUE: The underlying principal behind the Local Event Marketing Funding program is that our investment must produce an acceptable ROI measured primarily in room nights. After years of processing applications and payment request using a variety of formulas, it is evident that an acceptable verification of room nights is unachievable. If the program is to be continued, this incompatibility between principal and actual practice must be resolved which may lead to redefining the purpose of the program. BACKGROUND: Currently, there is a definitive funding formula based on seasonality, out-of-town visitors, and documented room nights. To the greatest extent possible, subjective judgment is taken out of the funding decision. Applications are due May 1 and the total amount budgeted for this purpose is based on the sum of approved applications and a buffer for new events. The steps in this process are as follows.  Step 1: Event makes application  Step 2: Staff evaluates the event application and sets funding amount  Step 3: In May, staff totals all events and places them in the budget and SMP DISCUSSION TOPICS: Why does the TDC financially support events?  Events brand the destination and community (BRANDING)  Events provide entertainment for visitors that encourage longer and repeat stays (R/N)  Events can drive incremental visitors whose main purpose for travel is the event (R/N)  Events can provide value to non-summer travel (R/N)  Events provide diversity in marketing messaging (BRANDING)  Events expose visitors to a variety of locations within the destination (BRANDING)  Events can have a significant economic impact on the destination (R/N) What criteria should be used to evaluate applications? Is the TDC open to different programs for special events vs sporting events vs destination events? RECOMMENDATION TO BCC: N/A, for staff direction only.