INTRODUCTION



A Study of the Local Economic Impact

Of a Performing Arts Center

On Woodbury, NJ

Prepared For:

Tricon Development Group Inc.

Prepared By:

Jennifer Kempton

Russell Pocaro

Glenn Reigel

Xi Ye

December 19, 2009

Table of Contents

EXECUTIVE SUMMARY 3

INTRODUCTION 6

REVIEW OF EXISTING STUDIES 7

METHODOLOGY 11

CASE STUDIES 13

The Woodbury Region 13

Bay County, Florida 15

Chandler, Arizona 17

Doña Ana County, New Mexico 18

Ulster County, New York 20

Case Study Review and Discussion 22

ARTS & ECONOMIC PROSPERITY III CALCULATOR 25

LOCAL INTERVIEWS AND SURVEYS 28

DISCUSSION AND CONCLUSION 35

REFERENCES 38

APPENDIX A - Tricon’s Proforma Income Statements

Modified for 650 seat capacity…………………………...…………..40

APPENDIX B - Rowan University MBA Consulting

Team Member Biographies…………………………………………48

EXECUTIVE SUMMARY

Tricon Development Group and its partners propose to create a performing arts center in Woodbury, NJ by refurbishing the G.G. Green building. They have involved a team of Rowan University MBA candidates to study how such a center would impact the local economy.

This economic impact study includes a review of already published studies on the economic impact of arts and cultural activity in a community. These studies range in size and scope from a focus on a single museum location, to the regional impact of an arts themed development zone, to national studies that analyze and identify broad trends in economic impact. While some economists question the ability of the arts alone to drive economic redevelopment, all of the studies reviewed herein agree that a strong arts presence has positive impact on the local economy.

One study in particular is singled out as the most extensive of its kind. Americans for the Arts’ comprehensive, survey-based analysis of the impact of the arts industry on regional economies, Arts & Economic Prosperity III (AEP3), featured findings from 156 study regions (116 cities and counties, 35 multi-county regions, and five states). AEP3 uses four metrics to define economic impact: full-time equivalent (FTE) jobs, resident household income, and state and local government revenue. The rigorous statistical methods used in the study allow for extrapolations of the data. AEP3 finds that non-profit arts and cultural organizations nationally generate $166.2 billion per year in economic activity. Additionally, AEP3 shows that the typical attendee to an arts event spends $27.79 locally, per person, per event, in addition to the cost of admission. This money is spent on parking, at restaurants, and in retail stores near the venue.

Case studies of the economic impact of arts in four communities similar to Woodbury are presented. These four regions (Bay County, FL; Chandler, AZ; Doña Ana, NM; Ulster County, NY) were chosen based on their similarity in population and per capita income to the Woodbury region. They were also chosen because, according to the AEP3 data, they had arts organizational operating expenditures similar to the expected expenditures from the proposed Woodbury performing arts center. An outline of the Woodbury region is presented as well, for comparison purposes.

Among the five regions, populations range from 161,000 to 235,000 with Woodbury ranked fourth at 226,000. Per capita incomes range from $14,000 to $24,000, with Woodbury ranked in the middle at $20,280. The Woodbury performing arts center ranks fourth among the regions in arts organization operating expenditures, based on current proposed projections. An analysis of audience spending in the four regions yields an estimate of direct audience spending, excluding the price of admission. For the Woodbury theater, annual audience spending would likely range between $839,907 and $3 million. Roughly 45% of this spend would be for refreshments or meals at local restaurants, with the remaining spread across souvenirs and gifts, transportation costs, lodging and other expenses.

Using the AEP3 statistical data and calculator model, and inputting the Woodbury region’s population, along with the proposed theater’s expected operating budget and attendance information, we generate an expected economic impact. Using the AEP3 methodology, the total estimated economic impact to the local economy of the proposed theater is $4.1 million, with 120 new FTE jobs created. These jobs increase the income of local households by $2.2 million, and increase local and state revenues by $180,638 and $196,797 respectively.

Ultimately, regardless of the method used or the study reviewed, we have found again and again that the arts bring a significant economic impact to their communities beyond the price of a ticket. Many communities have relied on the arts to play a significant role in downtown redevelopment efforts. The numbers vary widely, but they all support the conclusion that the impact of a performing arts center in Woodbury would be a positive one.

INTRODUCTION

The G.G. Green Opera House Redevelopment Project proposes to create a performing arts center in Woodbury, NJ by refurbishing the G.G. Green building. The redeveloper, Tricon Development Group, and its partners have prepared a business plan and proforma income statements to prove the project’s potential.

As a requisite to the capstone course of the MBA program at The Rohrer College of Business of Rowan University, MBA candidates must complete a consulting project. During the Fall 2009 semester, Tricon engaged a team of Rowan University MBA candidates to prepare an economic impact study for the redevelopment project.

The following study includes a review of published studies on the economic impact of arts and cultural activity in a community. Based on models developed in previous studies, this study proposes a methodology to quantify the impact of the redevelopment project. Case studies of the economic impact of arts in communities similar to Woodbury are presented, along with the results of statistical extrapolation from one particular study. The results are presented and discussed in the analysis section of this paper.

The scope of this study does not include an examination of the viability of the redevelopment plan. Whether or not this redevelopment project can succeed, and whether or not the business plan is sound, is for others to decide. Insofar as the income statement proformas are necessary inputs to our model, we have reviewed them and believe them to be realistic and reasonable.

REVIEW OF EXISTING STUDIES

Economists have published many studies that attempt to measure the economic impact of arts in a community. These studies range in size and scope from a focus on a single museum location, to the regional impact of an arts themed development zone, to national studies that analyze and identify broad trends in economic impact. While some economists question the ability of the arts alone to drive economic redevelopment, all of the studies we have reviewed agree that a strong arts presence has positive impact on the local economy.

Most of the studies published to date focus on the direct economic impact of arts organizations, both non-profit and for-profit, in a given region. Direct impact includes the expenditures of arts organizations in a community, including payroll to full-time employees, fees to artists, facility expenditures (rent, mortgage, utilities), and taxes (payroll, property and sales). Direct impact also includes the direct expenditures of patrons of the arts, including ticket prices, purchases of food, parking, lodging, et cetera.

In the Fall, 2005 issue of Business Perspectives, Diane Jalfon wrote a brief case study concerning the economic impact of the Memphis Brooks Museum of Art. The museum had been operating for 80 years, and its director had no doubt that it was positively impacting the regional economy. The challenge was quantifying that impact. During the three years spanning from 2003 to 2005, average annual attendance at the museum was 23,908 visitors. Using data collected from visitors to the museum, a report was prepared that estimated the total visitor spending on local retail and lodging over those three years at over $7 million. This additional spending generated state and local tax revenue of $990,000 over that same three year period.

The Future Laboratory is a London-based consulting agency that conducts research on market trends to predict future market developments. It helps its clients anticipate shifts in the marketplace and better position them to take advantage of those shifts. In a 2007 report, the Future Lab showed that 625,000 Londoners worked in creative organizations such as record companies, dance companies, museums, and orchestras and that these arts industries contributed ₤21 billion (about $41 billion) to the London economy. That accounts for roughly 7.5% of London’s total economy. The report shows that the arts industry is the fastest growing segment of the UK economy. But, according to an article in the May-June 2008 issue of The Futurist, “Some economists contend that arts aren’t a monetary driver so much as a beneficiary of economic growth that occurs elsewhere.”

Dutch economist and artist Hans Abbing, author of Why Are Artists Poor?, says:

There has to be some prosperity in order for the arts to flourish. Somewhere where everyone is poor, there’s no money to support the arts. But as soon as you get the poor people next to the rich people, there’s something happening. The economists I know, cultural economists, are beginning to understand how important arts can be, particularly for municipal government.

In 2004, Chicago celebrated the grand opening of Millennium Park. Located in the northwest corner of Grant Park, in the East Loop and bordering Lake Michigan, Millennium Park was developed as part of a public / private partnership, with the goal of creating a cultural venue that would anchor economic development in the area and positively impact the economy. The park includes public gardens, fountains, sculpture and interactive art, an outdoor concert venue that seats 11,000 attendees, and an indoor music and dance theater that seats 1,500 attendees.

In April, 2005, URS consulting was contracted by the City of Chicago Department of Planning and Development to prepare an economic impact study for Millennium Park. The study found that the park impacted the East Loop and Central Business District regions in several ways. First, it was found that real estate values had increased considerably in the region. A total of seven condominium projects attributed their successful sales to the Millennium Park. Existing residential real estate value was found to have increased by $100 per square foot due to the park. In all, the impact of the park on residential real estate was found to be $1.4 billion. A second benefit of the park was its ability to attract new business and enhance existing business. The impact over the next ten years, as calculated in the Millennium Park Economic Impact Study, would be more than $428 million for hotels, $670 million for restaurants, and $529 million for retailers.

In what is probably the most extensive study of its kind, Americans for the Arts has prepared a comprehensive, survey-based analysis of the impact of the arts industry on regional economies. It conducted these surveys and published reports at three different times in the past 15 years, and most recently in 2006. The 2006 study, Arts & Economic Prosperity III (AEP3), featured findings from 156 study regions (116 cities and counties, 35 multi-county regions, and five states). Data was collected from 6,080 non-profit arts and culture organizations and 94,478 of their attendees across all 50 states and the District of Columbia. Economists customized input / output models for each study region to provide specific and reliable economic impact data.

AEP3 uses four measures to define economic impact. Full-time equivalent (FTE) jobs describes the total amount of labor employed, and takes into account full and part-time jobs. Resident household income includes salaries and wages paid to local residents. State and local government revenue includes taxes (income, property and sales) as well as funds from license fees, utilities, filing fees and other similar sources.

The rigorous statistical methods used in the study allow for statistical extrapolations of the data. AEP3 finds that non-profit arts and cultural organizations nationally generate $166.2 billion in economic activity annually. According to AEP3, this spending supports 5.7 million full-time jobs in the United States. The industry also generates nearly $30 billion in revenue to local, state and federal governments every year. Additionally, AEP3 shows that the typical attendee to an arts event spends $27.79 locally, per person, per event, in addition to the cost of admission. This money is spent on parking, at restaurants, and in retail stores near the venue.

The following table summarizes the impacts found in a sample of these studies. The numbers in the table are not comparable because of the differences in methodologies.

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Figure 1: Summary of Economic Impact Studies, from Arts, Culture and Economic Development, Nivin / Plettner

Because of the differences in methodologies and definitions of the arts industry, these impacts vary. Regardless of how they are measured, the arts industry impact to the economies within these regions is substantial. The common theme in studies that attempt to quantify the economic impact of arts is that communities that invest in the arts derive additional benefits of jobs and economic growth.

METHODOLOGY

Economic impact studies of arts and cultural industries have been conducted using many different methodologies. Some have relied primarily on interviews of event attendees, asking them how and where they will spend their money during their visit. Others have interviewed local business owners and employees, attempting to gauge the impact that the arts industry has had on them. Still other studies have relied on comparison between their study regions and other regions that have been thoroughly studied, extrapolating data from one area to fit another. Some studies are not statistical analyses at all, but rather are case studies that outline economic benefits in a more subjective way.

In all cases, the studies we have reviewed investigate the economic impact of existing arts and cultural entities on their regions. Our study predicts the economic impact of a planned venue and relies on business plan and pro forma income estimates as inputs. We use a three-pronged approach in this study, combining case study, data extrapolation and direct interview methodologies, to create a model of the impact that this performing arts center could have on the region.

The AEP3 study is the most comprehensive study that we reviewed. It includes data tables and information on each of the regions studied. That information allows us to pick and choose regions that are similar to Woodbury, and focus our attention on them.

When reviewing Woodbury geographic and demographic information, it is important to understand the impact of large cities with multiple arts venues. The question for a 650-seat theater in a relatively small town becomes, “From where will my customers come?” While it is possible that arts patrons would cross the river from Pennsylvania to attend a show in Woodbury, the draw of multiple, established, high-end arts venues in Philadelphia make it unlikely. For the purpose of this study, and with an eye toward being conservative in our estimates, we will consider the “Woodbury Region” to consist of communities that lie within five miles of Woodbury and are located in New Jersey.

Using zip code information, we have compiled a list of communities that will make up the Woodbury Region. Using 2000 census information, we’ve compiled population and per capita income data for those communities. Regional information is shown below.

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Figure 2: Study Region Data

Source: Mapquest, U.S. Census Bureau. (2000). Statistical abstract of the United States.

The total population of the Woodbury Region is 208,065. From the income statement pro forma prepared by Tricon and its partners, the estimated total annual expenditures of the performing arts center are roughly $2 million. Using these primary figures, we reviewed the AEP3 study area data and selected four similar regions to compare and contrast. These constitute the case study portion of our analysis.

Because of the variety of communities studied and the rigor with which the AEP3 study was conducted, non-profit arts and culture organizations located in communities that did not participate in AEP3 can estimate their local economic impact by extrapolating from this data. Americans for the Arts used AEP3 data to construct a calculator to do just that. Estimates can be derived for both spending by the organizations themselves, and event-related spending generated by audiences. Inputs to the calculator are regional population and organization expenditures. The details of these calculations and results of our analysis are presented in the data analysis portion of this study.

Finally, we had the opportunity to interview and send questionnaires to the operators of several local theaters, as well as owners of businesses that have been affected by the development of new arts venues in their communities. While the scope of these interviews is limited, and in no way approaches the rigor of AEP3, the story that these interviews weave will help to support and humanize the case study and data analysis portions of this study. Details of and conclusions drawn from these interviews are presented in the interview section of this study.

CASE STUDIES

A discussion of the Woodbury study region, as defined earlier, is presented below, followed by case studies of four regions that were detailed in the AEP3 study. Those four regions (Bay County, FL; Chandler, AZ; Doña Ana, NM; Ulster County, NY) have been chosen based on their similarity in population and per capita income to the Woodbury Region. They were also chosen because, according to the AEP3 data, they had arts organizational operating expenditures similar to the expenditures expected from the proposed Woodbury theater. Following the case studies is a discussion of how they all fit together to create a picture of the potential economic impact of a theater in Woodbury.

The Woodbury Region

It is important first to understand the Woodbury region’s geography and demographics. The City of Woodbury is the county seat of Gloucester County, NJ. It is located just 10 miles southeast of Philadelphia. The city itself is just 2.5 square miles, with a population of 10,000 that swells to nearly 20,000 during the workday. The population is diverse, with home prices ranging from $150,000 to $450,000. The City offers a residential community with a downtown, main street area that includes shops, restaurants and other businesses.

The G.G. Green Block Building, built in 1880 as home to an opera house and later a movie theater, was once an anchor for a thriving, lively Broad Street. Vacant since 2001, the building is rapidly deteriorating. According to the 2009 Woodbury Redevelopment Plan:

Multiple developers have attempted to redevelop the building into retail and professional office space but found, even with funding assistance, that renovations to make the building inhabitable were cost prohibitive. Adjacent buildings on the block are also now vacant, adding to the visual impression of blight along Broad Street. As the block further degrades, it will become more and more difficult to attract a developer with the means to appropriately redevelop these structures.

Our definition of the Woodbury region that would be served by a theater at this location is any zip code within five miles of the City of Woodbury zip code (Figure 2). This definition is not the same as a five-mile radius, since any area where even a part of the zip code falls within five miles will be counted in full. The total population of the region is 208,065, and the 1999 average per capita income is $20,283. Selection of a five mile radius was subjective, and was done to be conservative. Many theaters consider their customer base to be drawn from 10 to 25 miles away. Within those distances, the region’s population would be 600,000 and 1.2 million people, respectively.

Geographically, the region is bordered on the west by the Delaware River. Woodbury itself is served by two major county roads, and lies in close proximity to the interstate. A planned light rail extension will include a stop two blocks from the proposed theater site, and will link Woodbury with Sewell and Glassboro to the south, and Gloucester City and Camden to the north.

Currently the Woodbury region is served by one performing arts venue. The 2,500 seat TD Bank Arts Centre is located in Sewell, NJ. Completed in 1998 and part of the Washington Township High School complex, the Centre was originally designed as the school district's high school auditorium, built to hold the school's student body, which exceeded 2,000 students. During the planning stages of the Centre, officials decided that this auditorium should be outfitted to host large-scale productions in an effort to bring local, regional and world-renowned entertainment to the community. The Centre’s website boasts that it has hosted more than 150,000 attendees in the last year.

Bay County, Florida

Bay County is located on the Gulf Coast of Florida in the panhandle region. It is home to Panama City and Panama City Beach. With a population of 163,000 and a per capita income of $18,700, Bay County is similar demographically to the Woodbury Region. The county is best known for its white sand beaches, which attract hundreds of thousands of visitors from all over the world each year.

While the beaches of Bay County are world-famous, the high quality of the arts sometimes comes as a surprise to visitors and new residents. In 1997, Panama City was named sixth of the “100 Best Small Art Towns in America” by Avalon Travel Publishing. The scenic downtown area borders on St. Andrew Bay and includes numerous art galleries, restaurants and shops, along with the Visual Arts Center and the Martin Theater.

The Visual Arts Center occupies the old City Hall, jail, fire and police station, and is one of the oldest structures in the city (established in 1925). Renovated in 1987, the Center reflects the collective efforts of the artists and citizens of Bay County to bring a quality cultural facility to the area. With museum quality exhibit space and studio classrooms, the Visual Arts Center provides a venue for national, local and traveling art exhibitions, adult and children's art classes, art appreciation lectures, seminars, and workshops. The Visual Arts Center collaborates often with other arts organizations and area businesses to create community-wide events that foster the appreciation of the arts.

The Martin Theater, originally built in 1936, first opened its door as the "Ritz". In the early 1950's the Ritz chain was bought and renovated by the Martin family. The original marquee was replaced and the cinema operated as the Martin Theater until 1978. Left vacant and deteriorating, the theater was operated for a short time as a shooting gallery. In 1987 the Panama City Downtown Improvement Board (DIB) bought the vacant building. The DIB, with funding from the State, completely renovated the facility, turning it into the state-of-the-art facility that it is today.

The Martin Theater opened its doors for the second time in November of 1990 with a staff of one. Since that time it has added the Greenroom, a 1,500 square foot reception and meeting room, along with wing space and restrooms, two full-time staff members and many volunteers. The Martin Theater Ensemble Program was created in 1994 to establish a permanent professional theater company in Northwest Florida. Recent productions include The Importance of Being Earnest, The Foreigner, Noises Off, A Raisin in the Sun, Crimes of the Heart, Guys and Dolls, and The Glass Menagerie.

In 2006, the Bay Arts Alliance completed surveys for the AEP3 study. According to the data gathered, the arts organizations within Bay County attracted almost 75,000 attendees in 2005. Those attendees spent, on average, $24.82 per person on event related direct spending, excluding the cost of admission. For example, the average attendee spent $10.06 on meals and refreshments during their trip out, equating to over $750,000 for the year. In total, AEP3 calculated a total economic impact from organization and audience spending of more than $3.1 million.

Chandler, Arizona

Chandler, AZ is located in Maricopa County, just east of Phoenix. Despite being home to some large technology manufacturing facilities, including Motorola and Intel, Chandler is often considered a bedroom community for the larger Phoenix metropolitan area. With a population of 240,000 and a per capita income of $23,000, Chandler is similar demographically to the Woodbury Region.

The Chandler Cultural Foundation manages and operates the Chandler Center for the Arts, a multi-theater performing and visual arts facility that opened in 1989 as a shared facility between the City of Chandler and the Chandler Unified School District. The facility is used Monday through Thursday primarily for school arts curriculum and other school activities, and Friday through Sunday for city or public performances.

The Center is equipped with three theaters and a 2,000 square foot exhibit hall. With a total seating capacity of 1,536, the unique design of the Center allows for two rear sections of the main auditorium to rotate 180 degrees to become two more intimate performance spaces: The 350-seat Hal Bogle Theater and the 250-seat Recital Hall. The walls between the separate performance areas prevent sound interference, thus allowing up to three productions to run simultaneously.  

In 2009, Chandler voters approved a combined total of $6.7 million in bond funding in order to update the nearly 20-year-old facility. This funding will support replacement of the Center’s rigging systems, ADA improvements, air conditioning upgrades, seating refurbishment, lobby floor remediation, installation of an orchestra lift and other facility related refurbishments. The renovations are expected to be complete by May 2010.

In addition to public funding for the original construction and later renovations, the Center relies on an endowment to operate. The endowment is funded through membership contributions and local fundraisers held throughout the year.

The Chandler Center for the Arts’ programs serve the entire Phoenix-metropolitan area and draw more than 285,000 people each year. The Center is the only indoor cultural venue in Chandler, and one of the only venues in the Valley that is able to provide quality programming at a highly competitive cost. In 2007, the average ticket price to attend an event at the Center was $26.52.

The Chandler Center for the Arts was a participant in the 2006 AEP3 study. According to the data gathered, the Center attracted over 373,000 attendees in 2005. Those attendees spent, on average, $13.96 per person on event related direct spending, excluding the cost of admission. For example, the average attendee spent $8.79 on meals and refreshments during the trip out, equating to over $3 million in annual spending for food and refreshments. In total, AEP3 calculated a total economic impact from organization and audience spending of more than $7.1 million.

Doña Ana County, New Mexico

Doña Ana County, located in the south-central area of New Mexico, borders El Paso County, TX, and Chihuahua, Mexico. It is the second-most populated county in New Mexico and Las Cruces, its county seat, has been identified as one of the fastest-growing communities in the United States. In 2000, Doña Ana’s population was 174,682, and the per capita income in the county was $13,999. Since then, it is estimated that the population has grown 15%, to almost 201,000.

Doña Ana County was primarily agriculturally based in 1900 and had a population close to 10,000 people. By 1990, the county’s population grew to over 130,000 people and its economy was centered on service and retail. Approximately 45 percent of Doña Ana’s population resides in Las Cruces, the major metropolitan area. Since 2000, Las Cruces has been recognized as one of ’s most “Playful City USA”, one of Inc. Magazine’s Boomtowns, one of AARP’s “Dream Towns” to retire, one of Money Magazine’s Best College Towns to Retire, one of Forbe’s Best Small Metro Area for Business and Careers and one of Facilities & Destinations Magazine’s Top Destinations. Las Cruces is also home to New Mexico State University and Doña Ana Branch Community College.

Las Cruces is home to numerous providers of performing arts, including A Children’s Theater of the Mesilla Valley, American Southwest Theater Company, Black Box Theater, Children’s Theater, Doña Ana Lyric Opera, Fountain Theater, Las Cruces Community Theater, Las Cruces Chamber Ballet, Las Cruces Civic Concert, Las Cruces Symphony, Mesilla Valley Concert Band, New Mexico State University Choral Department, New Mexico State University Concert Choir and the Rio Grande Theatre. The Doña Ana Arts Council (DAAC) is a non-profit organization which aims to “improve the quality of life in Las Cruces and Southern New Mexico by ensuring that the performing, visual and literary arts are an integral part of education, economic growth and community development.” The Rio Grande Theatre is the venue the DAAC uses to fulfill its mission. The Rio Grande Theatre was a cinema house for over 70 years and, since its 2005 renovation, now operates as a 422-seat, state-of-the-art performing arts facility. The DAAC uses it for its sponsored events and rents it to other groups for additional performances.

In 2002, Las Cruces Downtown Main Street in Doña Ana County was listed as one of the New Mexico Heritage Preservation Alliance’s Most Endangered Places in New Mexico. Urban renewal in the 1960s and 1970s resulted in a mall along Main Street. By 2002, the downtown area had become deserted and neglected. The six-block area became the focus of the Las Cruces Downtown Revitalization Committee. In 2004, the Rio Grande Theatre, which was built in 1926, was added to the National Register of Historic Places. The Economic Development Outline submitted in 2004 identified five goals with many objectives that included the development of the arts. One key measure to accomplish the objective of increasing the arts, cultural and entertainment value of downtown was to open the Rio Grande Theatre by 2005. This was accomplished, and by 2008, the downtown area had bloomed into the arts and cultural center of the city. The Rio Grande Theatre is used for local and international artists, ballets, film series, literary events, “Every Other Tuesday” free performances and special lectures.

In 2006, the Doña Ana Arts Council completed surveys for the AEP3 study. According to the data gathered, the arts organizations within Doña Ana attracted over 145,000 attendees in 2005. Those attendees spent, on average, $12.58 per person on event related direct spending, excluding the cost of admission. For example, the average attendee spent $4.65 on meals and refreshments, and $2.89 on souvenirs and gifts, during their trip out, equating to almost $675,000 annual spending for foods and almost $420,000 on souvenirs and gifts for the year. In total, AEP3 calculated a total economic impact from organization and audience spending of more than $3.8 million.

Ulster County, NY

Ulster County is located in the southeast area of New York State, and is approximately 90 minutes from New York City and an hour from Albany, the state capital. Ulster County is a string of vibrant communities, marinas, art, antiques, music, featuring beautifully prepared fresh food, luxury spas, and cozy lodgings. With an estimated population of 181,000 and a per capita income of $20,840, Ulster County has similar demographics to the Woodbury Region.

Ulster County has been home to the creative arts for more than 100 years. Music, of course, has been a staple with the Woodstock concerts, live performances at the Ulster Performing Arts Center as well as the arts and crafts fairs in New Paltz and the growing antique center in Saugerties.

The Ulster County Arts Council facilitates small grants and cash awards for artists and cultural groups to be used in the production of architecture and environmental structures, choreographic displays, music composition, and playwriting.

Now the Ulster Performing Arts Center, the Broadway Theater first opened in 1927 as a movie palace/vaudeville house. In 1947, the Broadway became a first-run movie house. By 1977, the flight of business and entertainment from the downtown to suburban malls caused the theater to close and it was slated for demolition. The theater was saved from demolition by three dedicated co-partners and a group of concerned citizens and reopened as the Ulster Performing Arts Center (UPAC). It was listed on the National Register of Historic Places in 1979. Sixteen years later, revitalization was mounted to produce a $1.7 million interior renovation to ready the theater for its 75th anniversary in 2002. In 2006, Poughkeepsie's Bardavon Opera House took over the management of UPAC and in 2007 UPAC officially merged with the Bardavon. Today, the Ulster Performing Arts Center's historic Broadway Theater has emerged once again as a premier performing arts venue of the Hudson Valley, open year-round to present a diverse season of superb productions, including national and international headliners in music, dance, theater, and more. With a 1,500-seat capacity, it remains the largest proscenium theater between Manhattan and Albany. Performances have been held by Louis Anderson, Fiona Apple, Pat Benatar, Tony Bennett, The B-52's, Lewis Black, Michelle Branch, George Carlin, Ray Charles, David Copperfield, Art Garfunkle, B.B. King, Penn and Teller, and Franki Valli. In addition to musical and comedic acts, the UPAC has movie showings, plays, and ballet performances.

Also in Ulster County, Phoenicia is a small hamlet (less than one square mile) of nearly 400 citizens. Tourism is a significant part of the town’s economy. The town features the Shandaken Theatrical Society (STS), a non-profit organization. STS is a community-based theater company committed to providing high-quality artistic and cultural opportunities for the residents of Shandaken and the greater Hudson Valley and Catskill Mountain regions. The theater is within walking distance to six restaurants that range from pizzerias to a seafood, bar, and grill establishment.

Each season, the STS produces a diverse program of events including musicals, plays, original works by Hudson Valley playwrights, cabaret performances, a film series, a Christmas show, and various workshops for adults and children. Productions run anywhere from two to six weeks with shows primarily on the weekend. When the theater is not in use for its main productions it maximizes its usage by offering a variety of non-theatrical entertainment and services. During the summer it offers a children’s theater art camp for a week in August for $75 per child. Approximately once per month the theater will have a movie night and feature cinematic classics like North by Northwest or family-oriented affairs like a series of Warner Brothers’ cartoons.

In 2006, the Ulster County Arts Council completed surveys for the AEP3 study. According to the data gathered, the arts organizations within Ulster County attracted over 27,000 attendees in 2005. Those attendees spent, on average, $30.58 per person on event related direct spending, excluding the cost of admission. For example, the average attendee spent $15.04 on meals and refreshments, equating to more than $400,000 annual spending on meals and refreshments. In total, AEP3 calculated a total economic impact from organization and audience spending of more than $3.9 million.

Case Study Review and Discussion

It is easy to understand that arts organizations spend money, often locally, and that money represents an economic impact to the local economy. It is also evident that audiences attending arts events spend money locally during the visit. Based on surveys of organizations and their audiences, AEP3 quantifies these numbers. The four case studies presented above present a range of economic impacts within which the Woodbury theater may be expected to fall.

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Figure 3: Summary of Case Study Area Information

Among the five regions, populations range from 161,000 to 235,000 with Woodbury ranked fourth at 226,000. Per capita incomes range from $14,000 to $24,000, with Woodbury ranked in the middle at $20,280. Based on the proforma income statements prepared for the Woodbury theater, the Woodbury theater ranks fourth among the regions in arts organization operating expenditures. Based on the similarities, it is reasonable to believe that the proposed Woodbury theater will create a local economic impact similar to that created in these four case studies.

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Figure 4: Direct Event Related Audience Spend

Figure 4 shows the direct event related spending of audience members excluding ticket sales. These figures represent a range within which the planned Woodbury theater could fall. In general, spending on meals and refreshments is the largest portion, followed by gifts and souvenirs. In Bay and Ulster Counties, which have large tourism industries, overnight lodging accounts for a large portion of the total spend. We expect the majority of the proposed theater’s audience to come from the local region, so the overnight lodging spend will likely be more similar to those of Chandler and Doña Ana County.

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Figure 5: Woodbury Expected Annual Audience Spend – Sensitivity Analysis

Our sensitivity analysis uses per person spend data from the four cases, and shows best, worst and average per person spends in several categories. We then show total annual spends, based on the estimated annual attendance of 88,725 at the Woodbury theater. Our analysis finds that the annual direct audience spend will likely range between $839,907 and $3 million.

ARTS & ECONOMIC PROSPERITY III CALCULATOR

Because of the variety of communities studied, and the rigor with which the AEP3 study was conducted, non-profit arts and culture organizations located in communities that did not participate in AEP3 can estimate their local economic impact by extrapolating from this data. Americans for the Arts used AEP3 data to construct a calculator to do just that. Estimates can be derived for both spending by the organizations themselves, and event related spending generated by audiences. Inputs to the calculator are regional population and organization expenditures. The details of these calculations and results of our analysis are presented in this portion of the study.

AEP3 is the most comprehensive study of the non-profit arts and culture industry ever conducted. It documents the economic impact of the non-profit arts and culture industry in 156 communities and regions (116 cities and counties, 35 multi-county regions, and five states), and represents all 50 states and the District of Columbia. The diverse communities range in population (4 thousand to 3 million) and type (rural to urban). Researchers collected detailed expenditure and attendance data from 6,080 non-profit arts and culture organizations and 94,478 of their attendees to measure total industry spending. Project economists customized input / output analysis models for each study region to provide specific and reliable economic impact data.

Inputs to the calculator are shown below.

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Figure 6: Arts & Economic Prosperity Calculator Inputs

Population is that of the Woodbury study region. Expenses and attendance figures are based on the proformas prepared for the proposed theater.

AEP3 uses a sophisticated economic analysis called input / output analysis to measure economic impact. It is a system of mathematical equations that combines statistical methods and economic theory. Input / output analysis enables economists to track how many times a dollar is “respent” within the local economy, and the economic impact generated by each round of spending. How can a dollar be respent? Consider the following example:

A theater company purchases a gallon of paint from the local hardware store for $20, generating the direct economic impact of the expenditure. The hardware store then uses a portion of the aforementioned $20 to pay the sales clerk’s salary; the sales clerk respends some of the money for groceries; the grocery store uses some of the money to pay its cashier; the cashier then spends some for the utility bill; and so on. The subsequent rounds of spending are the indirect economic impacts.

Thus, the initial expenditure by the theater company was followed by four additional rounds of spending (by the hardware store, sales clerk, grocery store, and the cashier). The effect of the theater company’s initial expenditure is the direct economic impact. The subsequent rounds of spending are all of the indirect impacts. The total impact is the sum of the direct and indirect impacts.

The calculator’s outputs to define economic impact are full-time equivalent jobs, resident household income, and revenue to local and state government, as defined below.

• Full-Time Equivalent (FTE) Jobs describe the total amount of labor employed. Economists measure FTE jobs, not the total number of employees, because it is a more accurate measure that accounts for part-time employment.

• Resident Household Income (often called Personal Income) includes salaries, wages, and entrepreneurial income paid to local residents. It is the money residents earn and use to pay for food, mortgages, and other living expenses.

• Revenue to Local and State Government includes revenue from taxes (income, property, or sales) as well as funds from license fees, utility fees, filing fees, and other similar sources.

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Figure 7: Arts & Economic Activity Calculator Results

The numbers generated by the calculator for audience spend are in line with the possible range that we found in our sensitivity analysis of the case studies. The total estimated economic impact to the local economy of the proposed theater is $4.1 million and includes the creation of 120 new jobs. These jobs increase the income of local households by $2.2 million, and increase local and state revenues by $180,638 and $196,797 respectively.

LOCAL INTERVIEWS AND SURVEYS

In addition to the research and case studies presented above, we also had the opportunity to interview and survey the managers of local theaters which have recently been redeveloped along with local restaurateurs about the impact that such a theater could have.

The Broadway Theatre of Pitman and the Keswick Theatre are two theaters with histories similar to that of the G.G. Green building in Woodbury. They originally opened in 1926 and 1928, respectively. Both theaters were closed at different points but have reopened and brought prosperity to their local communities in recent years.

The Broadway Theatre of Pitman in Pitman, NJ, just eight miles from Woodbury, reopened in September 2005. It produces a variety of productions, such as live theater, children’s theater, concerts and comedy shows. There are two outside events each month, and a total of 33 children’s shows and 66 main-stage shows each year, with an average audience of 500 attendees per show. There were no community objections to the reopening of the theater. The theater’s most popular programming is family-oriented productions such as Peter Pan and Frosty the Snowman.

Managing Director Pat Mangano says the theater relies heavily on marketing to attract new patrons and on delivering a memorable experience and quality production to create repeat patrons. The patrons primarily reside within a 30-mile radius of the Broadway Theatre and their average age is 50 to 60 years old for regular productions, and two to 10 years old for children’s theater productions.

Since the theater reopened, one full-time job and six part-time jobs have been created to directly support the theater. In addition, several restaurants and a coffee shop have opened in that time. The theater’s website boasts six partnerships with restaurants in Pitman and the neighboring towns of Glassboro and Sewell. The theater also partners with Pitman’s McGowan Memorial Library in a Community read, which currently includes the reading of To Kill a Mockingbird over a five month period, culminating in a production of the same show at the theater.

The Keswick Theatre in Glenside, PA, is 28 miles from Woodbury. It reopened in its current programming mix in March 1988. It produces a variety of productions, such as popular music, comedy and educational programming. There are approximately 150 shows each year at the Keswick Theatre, with an average audience of 1,000 attendees per show. The community advocated the reopening of the theater and there were no community objections to it. In comparison to the Broadway Theatre, the Keswick Theatre hosts a wider and more mature range of productions. Productions held in December 2009 included comedian Bob Saget, the rock band Twister Sister, and a performance of Babes in Toyland.

General Manager Judith Herbst says touching potential patrons using three traditional media sources is the best way to attract new patrons, while honestly fulfilling the brand promised is the most impactful way to create repeat patrons. Most of the patrons reside within a 10-mile radius, which includes seven counties in three states.

When the theater reopened, two full-time jobs and approximately 10 part-time jobs were created to directly support the theater. By 2009, the theater employed 14 full-time and 55 part-time employees. The theater’s website boasts partnerships with 10 restaurants and four hotels in Glenside and the neighboring city of Philadelphia and towns of Horsham, Willow Grove, Fort Washington, Hatboro, and Jenkintown. At the time of the interview, all but two of the surrounding spaces on the same street were occupied by stores and restaurants.

The story of Woodbury’s downtown is night and day. During the daytime the town is bustling as the county’s courthouse is busy during business hours, but once the afternoon passes so does much of the traffic. Traffic patterns during the weekend are much like the evenings, with businesses relying on a modicum of traffic. The conversations we conducted were intended to give the researchers and their potential audience insights on how local businesses operate and may be impacted by increased traffic.

The interviews with employees and business owners produced several consistent responses. The public’s awareness of many of the businesses is extremely low, despite the fact that Broad Street is a heavily trafficked area. Business owners eagerly anticipate the opportunity to build their clientele bases, especially when given the opportunity for increased exposure on days when Woodbury blocks off the road for community events. Retailers like The Nut Shop, a small independent candy store, gain the greatest exposure on these days when Broad Street is blocked off from motor vehicles and pedestrian foot traffic is encouraged on the main roadway. The fact that some of these businesses remain profitable is a credit to the entrepreneurial spirits of the owners and operators.

Dominic Polidoro, owner and chef of The Spot, operates the small breakfast and luncheon restaurant and operates six days per week for five to seven hours per day with seating up to approximately thirty guests. As a way to supplement revenue streams, he offers private group dining experiences and pre-made dinner packages to cook at home. If traffic were to significantly increase to the downtown area, Polidoro believes he would expand his hours of operation to include a dinner service. Adding a dinner service would effectively double the hours of operation and increase his average headcount from four to at least eight employees. While the benefits incurred by local businesses is dependent on programming and the utilization rate of the center, The Spot potentially stands to gain the most from an increase in weekend and evening traffic given the restaurant’s intimate, cozy setting and close proximity to the G.G. Green building. Because it is independently owned and operated, The Spot may be able to capitalize on the different types of audiences attracted. This could be a competitive advantage given the proper type of coordination, communication, and promotion with the theater. In contrast, a restaurant like Charlie Brown’s has a more restricted menu and would provide a more consistent dining experience.

The Woodbury Antique Centre occupies one of the largest spaces on Broad Street. The owners, Kathy and Jerry Furbur, describe the store as one of the few draws to the Woodbury area as antiquing aficionados will generally travel a healthy distance in their search for antiques. The Furburs noted that once their customers have concluded their shopping, there are few retail shops or restaurants to keep visitors in town. The Furburs are essentially the only paid employees of the Woodbury Antiques as the other employees are tenants of the Furburs’ residential properties and they work at the shop in exchange for money off their rent. The Furburs would not expect to change their staffing model so an increased flow of traffic would not have the traditional impact. Employees would have the opportunity to work more hours if the store stayed open later than its usual six o’clock closing and earn additional money off their rent. In turn the owners would have an opportunity to extend the hours of operation and increase sales. While this would not increase household income in the manner previously described, it would represent an increase in disposable income as a result of tenants’ rent costs decreasing.

Scotto’s Pizza is an Italian Restaurant serving a full range of Italian food and desserts with the second largest capacity for guests in the town of Woodbury. Scotto’s also maintains the longest hours of operations opening at 10 a.m. everyday and closing at 10 p.m. most evenings and 11 p.m. on Fridays and Saturdays. On average the store maintains a daily staff of three employees working the restaurant and one delivery driver. The staffing model is lean and efficient and is able to provide a high level of service and maintain food quality levels. On days that the restaurant expects a significant increase in business, it adds two additional employees to the schedule. Scotto’s seems likely to be the restaurant that could stand to gain the most from an increase in lunchtime and afternoon business given the restaurant’s wide variety of menu items. It is likely the restaurant could become the go-to place to supply meals during rehearsals, camps, or other group activities.

In an effort to provide examples of a destination restaurant that could be a part of the Woodbury revitalization we contacted the CFO of a regional restaurant chain for guidelines and reasonable expectations. We were provided with financial reports for several national chains and we sampled PF Chang’s and Texas Roadhouse, as each has some exposure in the area, to provide as a reference point. Upon examining each company’s financials and taking a simple average of each company’s revenues, we estimate that the average location for these restaurants sees sales of $3.3 million or slightly above $9,000 per day. Given the robust competition in the area, we were unsure if such sales could be realized and as such, we sought out an alternative restaurant solution.

We were provided with reasonable staffing requirements for a 4,500 square foot restaurant. While the specifics in regards to the type of restaurant and concept were not discussed, a general staffing model for a restaurant which holds a liquor license and serves lunch and dinner was determined to require 27.5 full-time employees, with approximate wages of $400,000. Given a target goal of labor costs representing 25-30% of sales, we estimate that such a location would necessitate sales of $1.31-$1.61 million with estimated earnings before interest, taxes, depreciation and amortization (EBITDA) of $130,000-$160,000.

A corporation would be unlikely to open a restaurant with a liquor license for earnings of that amount unless the company could expect significant growth opportunities, as taxes and debt services have yet to be considered. However, in the instance of a sole-proprietorship or family-run business in which the owner(s) was paid a salary in addition to retaining profits, EBITDA of $130,000-$160,000 would be acceptable.

The team also interviewed local businesses about the impact Pitman’s theater has had on its downtown. Pitman’s downtown area is more engaged in the evenings in comparison to the area of Woodbury. Restaurants and retailers stay open for longer periods, there is a greater variety of retailers and services available and there are significantly fewer vacant buildings. While detailed financial results were not available to compare the changes in sales results of businesses when there is theater activity, we were able to obtain anecdotal evidence of the impact the theater makes and see how certain factors can improve the effects of the theater.

Parking was the subject that came up most frequently as the area of opportunity in which Pitman needed to improve. The average show brings in 500 patrons to the theater which could mean 125-250 additional cars. The downtown area has difficulty accommodating that many vehicles being parked without choking off some of the traffic to other businesses in the area.

Employees at Venice Pizza and Restaurant have seen the greatest impact of all the businesses interviewed. Venice features booth seating for casual dining on-the-go and a more intimate dining room. Employees noted that when the theater is active on the weekends Venice’s business can improve from a self-described “good night” to the point in which they must turn away business. In order to accommodate additional dinner traffic they have taken to dressing up the booths in the front of the restaurant in order to accommodate the extra traffic.

Mark Nascimento, owner of Barcelona European Bistro, spoke positively of the theater and the extra exposure it brings his restaurant. The restaurant is still very new, having opened during the summer of 2009, and Nascimento believes he can only attribute about five percent of his weekend business to the theater, stating his belief that there was not much of a crossover between the type of crowds who were attending the performances and those visiting his restaurant. Nascimento did reference a disconcerting event in which the theater was having a performance, the town blocked off the street for a parade, and the limited parking availability was crippled. He and his staff had prepared for a busy weekend day but it was ruined as patrons could not find parking. Nascimento feels he might have been able to make suitable adjustments to his business that day had it not been for the lack of communication and coordination between the town, theater, and business owners.

Tim Zitkevitz, owner of The Ground House, has also seen little incremental business as a result of the theater. The Ground House sees a minimal amount of customers as a direct result of performances at the theater. Zitkevitz believes the alcohol-free policy of the town has stunted some of the opportunities for the town to grow. Zitkevitz looks at the popularity of restaurants like Carolina Blue Smokehouse and Taproom, Clancy’s Pub, and Landmark Americana, each within a ten minute drive from downtown Pitman. He believes a change in the longstanding ban on alcohol sales would allow Pitman’s restaurants to be more competitive with restaurants that serve alcoholic beverages in the neighboring towns. He recalled the success of an event in which the town granted a one-day liquor license that allowed guests over the age of 21 to receive a bracelet that entitled them to a maximum number of drinks. Each time a customer purchased a drink, a hole was punched in the bracelet. When the maximum number of punches was reached, the customer could not purchase any additional alcoholic beverages..

While The Barcelona and The Ground House were unable to credit the theater with driving business to the restaurant, Lula Asbury, owner of Sweet Lula’s, could not imagine her business surviving without it. She and her husband moved to Pitman from London and saw a distinct lack of fine dining in town. In the summer of 2008 they opened the restaurant and, after some initial success, expanded and increased the seating availability. Lula’s owners have accredited their success directly to the impact of the Broadway Theatre.

When speaking with Jack’s of Pitman, a photography studio and printing company, the theater did present some additional revenue sources. Jack’s has been contracted on several occasions over the course of the year to provide services for the theater’s advertising and promotional efforts. After the children’s productions conclude, parents will frequently go to Jack’s for pictures of their children as Jack’s photographs are of a better quality given the level of the company’s equipment and the fact that its associates are the only people allowed to use flash photography during a performance. This in turn makes up for the difficulties cited by some customers in regards to limited parking during some theater performances.

DISCUSSION AND CONCLUSION

Given the scope of the proposed G.G. Green building redevelopment, it is prudent to consider the impact that a performing arts center would have on the local stakeholders. Local residents would see an increase in available jobs and the opportunity to increase household income. Properly run, the performing arts center would become a source of civic pride. As the area matures and local neighborhoods become more desirable and enjoyable, property values would likely increase as more people would choose Woodbury as a place to live, work, socialize, and shop. Local business owners would stand to see increased foot traffic and increased revenues. Businesses would recognize additional revenues as a result of direct expenditures of the arts center, as was the case when the Pitman theater contracts Jack’s of Pitman to produce promotional pictures for its advertising campaigns. Other businesses would see sales increase as a result of additional spending by the audience as was the case for Venice Pizza and Sweet Lula’s in Pitman. Those possessing the entrepreneurial spirit would be presented with the opportunity to be a part of the revitalization of the Woodbury. 

Given a revitalization of Woodbury, first movers and current businesses would likely stand to gain more than those that take a wait-and-see approach. Local and state governments will not only benefit from the additional revenues generated from taxes and fees, but also from a decreased strain on financial and human resources that accompanies decreases in unemployment and increases in household incomes.       

Based upon the pro-forma income statements provided and the average spending results of the four cities, we forecast the range of total spending by the audience and arts center to be between $2.8 million and $4.9 million, with a most likely scenario of $3.7 million. In comparison, the AEP3 financial model predicts a total economic impact of $4.1 million. We believe the similarity in the results from these two approaches helps to bolster their validity. The total economic impact of a performing arts center would create 120 FTE jobs, increase household income by $2.2 million, and generate $180,000 and $197,000 for local and state governments, respectively.

In comparison to average staffing levels, 120 FTE jobs would be the equivalent of opening approximately 30 average Bath and Body Works retail locations, 15 T-Mobile stores or 4 Landmark Americana Restaurants in downtown Woodbury. 

Household income would increase by $2.2 million which breaks down to an average of $18,333 per FTE job. We believe that many of these jobs will be part-time retail, service, or restaurant positions and would be filled by students, recent college graduates and those seeking to supplement their incomes with a second job. 

Local and state government revenues would increase by a combined total of $377,000, an amount equivalent to the average salary of seven New Jersey teachers or policemen. Additional revenues to the city can be used to fund existing or new city projects.

The most recent economic census for Woodbury reports payroll, sales and receipts, and number of paid employees in 2002 for wholesale and retail trade, information, administrative, support, waste management, remediation services, health care, social assistance, and the arts. Nearly 200 establishments recorded a total of $600 million in total sales and receipts, or $3.015 million per establishment. In comparison, the total economic impact created by the theater would be $4.1 million. The total payroll amounted to $160 million and the average per establishment was just above $800,000. The total economic impact created by the theater would increase household income by $2.2 million. The average payroll per establishment was $805,000 and household income would increase by $2.2 million as a result of the performing arts center. Businesses support over 5,400 jobs in the town of Woodbury, and the 120 FTE jobs that would be created and supported by the arts center would result in an increase of 2.21%. In 2008, Woodbury budgeted for expected revenues of $12.2 million; $180,000 generated from art related activities would represent an increase of 1.2%

References

Americans for the Arts. (2006). Arts & Economic Prosperity III. Washington, DC:

Author.

Jalfon, D. (2005, Fall). The Economic Impact of Art. Business Perspectives,

17(3), 24.

Nivin, S. & Plettner, D. (2009, Winter). Arts, Culture, and Economic

Development. Economic Development Journal, 8(1), 31-41.

Tucker, P. (2008, May/June). The Arts as Engine For Growth. The Futurist, 6-7.

Uhlir, E.K. (2005, Spring). The Millennium Park Effect. Economic Development

Journal, 4(2), 7-11.

U.S. Census Bureau. (2000). Statistical abstract of the United States.

Washington, DC: U.S. Government Printing Office.

Woodbury, NJ. (2008). 2008 Adopted Municipal Budget. Retrieved from

on December 12, 2009.

Appendix A

Tricon’s Proforma Income Statements

Modified for 650 seat capacity

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Appendix B

Rowan University

MBA Consulting Team

Member Biographies

Jennifer Kempton

Jennifer Kempton is an MBA candidate at Rowan University in Glassboro, NJ. Kempton has a Bachelor of Arts in Communication with a specialization in Public Relations and a minor in Spanish from Rowan. She works for Limited Brands, a leader in the personal care industry, as the Store Manager of one of its Bath and Body Works stores in Cherry Hill, NJ.

Kempton is a native of Gloucester County, NJ; she lived in Washington Township for 24 years and currently resides in Glassboro. She is thankful for the love and support from her parents, William and Mary Jo, and her brother, Steven. Though her free time is limited, Kempton makes traveling with friends a top priority each year.

Russell Pocaro

Russell Pocaro is a graduate of Rowan University and has a Bachelor of Arts in Communications.  He has worked for T-Mobile for the past six years in sales and management capacities and is a passionate cellular aficionado.  Pocaro originally hails from Rockaway, NJ, but has lived in Gloucester County since graduating college in 2003. He is serving his second term as president of the Philadelphia Alumni Association of Phi Kappa Psi Fraternity, organized to serve as a networking group for resident and transient members and a sounding board and mentoring group for undergraduate members. 

Glenn Reigel

Glenn Reigel is an MBA candidate at Rowan University in Glassboro, NJ.  A graduate of Drexel University, Reigel has his Bachelor of Science in Mechanical Engineering.  He is a sales manager for Flowserve Corporation, a global manufacturer of industrial pumps and valves.

 

Reigel is a life-long resident of South Jersey, having grown up in Gloucester City and Mickleton.  He currently resides in Cherry Hill, New Jersey with his wife Nicole, a former grade school teacher in Maple Shade, and their three sons, Nicholas, Christopher and Benjamin.  In his free time Reigel daydreams about the days when he used to have free time.

Xi Ye

Xi Ye currently is an MBA student at Rowan University in Glassboro, NJ. Xi Ye received her Bachelor’s Degree in Finance from Anhui University, China. Right now she is working at a law firm in Philadelphia, PA as a paralegal. Xi is an international student from China; in her second year in the US.

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