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Economic Impact Overview

June 24, 2018

Prepared by Isaac Sports Group (ISG)

An important part of the analysis of the renovation or replacement of the Miners Memorial Complex in Virginia, MN is the potential to generate increased economic impact for the City of Virginia and the region through renovated or new and enhanced facilities.  The potential for incremental economic impact is driven by the following key elements of the facility:

  • Community Conference & Event Center (functions, meetings, community activities)
    • NOTE:  For lack of a more formal name and convenience, we have called the Miners Memorial community, conference, and function center as a conference and function center.  We know there has been much discussion of how best to identify this space to capture its community benefits and its meeting and event capabilities.
    • Arena
      • Potential for non-ice functions and events in the Arena
      • Ice Complex (including the Arena, second ice sheet, and support facilities)

 Each of these can generate economic impact and attract visitors to Virginia and the region, but it is very important to note that these elements also combine in a synergistic manner to generate additional economic impact through the combination of these facilities and their amenities.  The success of a renovated or new Miners Memorial Center, especially with respect to the conference/community center component, will also depend on cooperation with the local business and hospitality community.