001-132 Tourism 2017 01EN.indd
نویسندگان
چکیده
Th is paper provides an economic analysis of a proposed zoning change that will enable the City of Treasure Island, Florida, to attract more tourists. Th e proposed zoning change would result in hotel renovations and new hotel construction in Treasure Island, Florida. Th e study uses tax analysis to see how the change would increase taxable property values as well as increase revenues from the tourism development tax. Th e study then uses the REMI model to analyze the changes to the economy that result from the ensuing increase in tourists. Th e results suggest that if the proposed zoning change comes to fruition and hotels build out to the maximum, the City will gain at least $920,919 in increase property tax revenues, while the County will gain at least $1.6 million in increased bed taxes (some of which will return to Treasure Island in the form of tourism support). Overall, over 813 jobs would result in the County, with an increase in Regional Gross Domestic Product of $46.2 million in the fi rst year. Th is is the fi rst economy-wide analysis of a zoning change that specifi cally impacts the hotel industry. Th e study provides a deeper understanding of the revenue-raising options for a tourism-dependent economy and then analyzes a unique proposed solution to its budgetary dilemma.
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001-132 Tourism 2017 01EN.indd
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