Niagara Falls: Centennial Park feasibility study shows $50 million direct economic impact in first 5 years

Submitted by the Office of City of Niagara Falls Mayor Robert Restaino

Niagara Falls Mayor Robert Restaino, joined by various business and community leaders, on Thursday unveiled findings from a feasibility study of the proposed $200 million Centennial Park complex.

Among the key findings from the study:

√ Approximately $52.7 million in direct economic impact during the first five years of operation

√ Approximately 94,411 annual non-local days in the market

√ Approximately 27,298 annual day trip visits

√ Approximately 14,496 annual new room nights

“Niagara Falls has a once-in-a-lifetime opportunity to finally create its own destiny through a state-of-the-art multipurpose venue and events center focused on amateur and youth sports,” Restaino said. “Building a year-round, multipurpose facility with a focus on amateur and youth sports is one of the fastest-growing segments in the hospitality and tourism industry. There is a strong demand and not enough supply, especially in the Northeast. Couple that with the power of Niagara Falls and you have a transformative project.”

The criteria established to conduct the study included determining the economic impact through new room nights at area hotels and motels. The study confirmed that indoor events and activities could extend the tourism season and bridge the gap for year-round visitation.

Another consideration was an assessment of how creating year-round jobs versus seasonal employment will enhance a sense of place and quality of life for local residents. The seasonality conditions of Niagara Falls diminish economic enhancement for the tourism workforce that is primarily female and 75% minority; the addition of Centennial Park could eliminate the displacement of the tourism workforce, allowing them to find stable employment.

The final criteria was establishing how a new venue and event center could capitalize on the growth in sport tourism that attracts, hosts and retains regional and national sports and non-sports tournaments and events.

“As a hotel owner and developer and father of young children and a coach in various youth sports, I have seen firsthand the success of these venues, and Niagara Falls would be an ideal location for such an attraction,” said Frank Strangio, president of the Niagara Falls Hotel and Motel Association.

“We are witnessing the growth in demand for hotel rooms in Niagara Falls and are committed to making further investments to grow our of portfolio from hotels to entertainment,” said Nirel Patel, owner of Element Development Group. “This growth and investment will be greatly enhanced should Centennial Park come to fruition in a size and scale to meet the demand our city can currently hosts, and the anticipated needs for the next generation to follow. Centennial Park can be a multigenerational type of development, which is a project we can fully support.”

The study noted that, within a two-hour drive radius of Niagara Falls, there are approximately 15 million people; that the Centennial Park complex could capitalize on non-local visits from this population; and the 23 million people who live within a three-hour drive radius.

John Percy, president and CEO of Destination Niagara also expressed support, stating, “This project has the potential to add to the downtown revitalization of Niagara Falls by stimulating local businesses, encouraging new development, and increasing foot traffic by attracting year-round activities and events, and providing a safe, vibrant gathering place that reflects the pride and potential of our community. It is a bold step forward for economic development, tourism and community well-being.”

Sheri Scavone, CEO of WNY Women's Foundation said, “When women thrive, families and local economies thrive. In Niagara Falls, women’s economic stability isn’t a luxury, it’s a necessity. That’s why we’re proud to support the city’s Centennial Park Project, a bold investment in year-round tourism and job stability for women.”

The feasibility study was conducted by Sports Facilities Advisory LLC, based in Tampa, with financial support from USA Niagara Development and National Grid. Sports Facilities Advisory LLC specializes in multipurpose arenas and venues in the amateur and youth sports sector. It manages 90 venues across the U.S., with $15 billion in planned projects.

“Revitalizing the tourism industry in the City of Niagara Falls has been one of Mayor Restaino’s key objectives in office. His vision of what the city can be is shared by many,” said New York State Assembly Majority Leader Crystal Peoples-Stokes. “This Centennial Park feasibility study is a major step in helping to turn that vision into a reality. The proposed project will bring economic growth and serve as a hub for an assortment of live events. I thank Mayor Restaino and the City of Niagara Falls for their bold plan and clear vision of what Niagara Falls can become in the future.”

“I want to congratulate Mayor Restaino and the leadership in Niagara Falls for shepherding this project to this point. I appreciate their ambition, vision and proactive approach,” said New York State Assemblyman Pat Burke, chairman of the Assembly committee on cities. “There is no silver bullet to economic development – especially in Rust Belt cities – but Niagara Falls’ willingness to take a big swing is commendable.”

New York State Assemblyman Ron Kim, chair of the Assembly committee on tourism, said, “I commend the City of Niagara Falls for its commitment and courage in taking bold steps toward revitalizing its tourism economy. The release of the Centennial Park feasibility study marks an important milestone – offering a clear vision of how this proposed project could serve as a catalyst for economic growth, community renewal, and year-round opportunity. I applaud the administration’s leadership in advancing ideas that aim to position Niagara Falls as a dynamic and thriving destination for generations to come.”