After another record year at the MassMutual Center, Springfield's convention promoters look forward to more visitors
Total food and beverage revenue at the center also hit a new high in the fiscal year that ended in June, up more than 9% from the previous year, the authority said in a news release without giving dollar figures for either.
The convention center — not counting the arena — alone hosted more than 100 events and more than 100,000 attendees, according to the release. The regional economic impact was an estimated $56.7 million, including both the Convention Center and Arena.
The arena is home of the American Hockey League's Springfield Thunderbirds.
Growth is a sign that not only is the convention business recovering from a post-COVID doldrums but that meeting planners are choosing Springfield, said Alicia Szenda, vice president of sales for the Greater Springfield Convention and Visitors Bureau.
COVID shut down conventions for years. Then, meeting organizers and convention bureaus spent the next few years rebooking those canceled conventions, scheduling them after the interruption so as not to lose the business.
'We are not 100% beyond that, but we are close,' Szenda said.
Mary Kay Wydra, president of the Greater Springfield Convention and Visitors Bureau, said conventions have changed. There are shorter stays with fewer visitors. Budgets are tighter.
Greater Springfield has been successful at drawing events, she said. That includes the 2025 Massachusetts Governor's Conference on Travel and Tourism back in March.
The conference — focused this year on events and sites associated with the 250th anniversary of the American Revolution — was a chance for the Pioneer Valley to show off for tourism professionals across the state.
And in the coming weeks, the MassMutual Center is set to host a toy show geared to retailers, a trade show for locksmiths and a military reunion. Fall is normally a busy time of year.
The convention center and arena still bear the name of insurance giant MassMutual under an agreement that expired in 2023. But the Convention Center Authority has said it is in the process of selecting a new naming rights sponsor.
The new $80 million replacement Civic Center Carpark opened this spring.
Stories by Jim Kinney
Empresario busca impulsar la participación del electorado latino
Demolition to begin at vacant Mary Lane Hospital campus in Ware
'I see people holding back,' but retailers hope for tax-free boost this weekend
Read the original article on MassLive.
Solve the daily Crossword
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNBC
40 minutes ago
- CNBC
Chicago Fed President Goolsbee thinks central bank should wait a few months before cutting interest rates
What does a donut tell us about the state of the economy? Chicago Federal Reserve President Austan Goolsbee thought about that Wednesday as he toured Mel-O-Cream Donuts in Springfield, Illinois. Even inside a donut shop, the effects of tariffs on the economy can be seen. "It's sort of surprising, because donuts seem like a very local product, and yet they get some ingredients like palm oil that are coming from Indonesia," Goolsbee said. The Trump administration set tariffs on Indonesia at 19%. "They have to now figure out what are the tariff rates, and the tariffs went up a significant amount. If that happens, that could have a multi-thousand-dollar impact on their operation," he continued. But, he added, "I hope it's not a sign of something more extended or broader in the way that the Covid inflation ... generated its own snowballing, in which it was supposed to go away and it didn't go away." That tariff will cost Chris Larson, a co-owner of Mel-O-Cream, "about $4,000 per shipment per week," he said. And that used to be somewhere "closer to $2,000 to $2,100 weekly. Now it's going to move up to $4,200 ... for the exact same product." Goolsbee's visit matters because he's one of just 12 people in the country who get to decide what to do with interest rates. The Fed's rate-setting committee will next decide whether to cut or hold on Sept. 17, and the perspectives of businesses like Mel-O-Cream are instrumental in helping him determine his next vote. Larson's hope? That the Fed will cut interest rates, which would help Mel-O-Cream finance new equipment to cut costs in labor and blunt the impact of tariffs. "What is the cost of money in order to expand, to upgrade, to update? What do those things look like?" Larson said. "Those things do concern us, and we would love to see, as everyone would, the interest rates would come down." Goolsbee said he wasn't yet ready to tie his hands to an interest rate cut in September. "Let's get a few months of data before we make any conclusions. The hardest thing that the Fed ever has to do is get the timing right at moments of transition," he said Wednesday on NBC News' "Here's the Scoop" podcast. "I think as we go through this fall, September, November, December, all of those are live moments that we could be cutting rates." Government data Thursday showed that wholesale prices paid by U.S. companies rose much more than expected. Another measure, the consumer price index, showed Tuesday that inflation remained stubbornly high in July. The Fed's target for inflation is 2%, lower than the most recent consumer inflation reading of 2.7% and producer inflation reading of 3.3%. Even with those numbers, the market still anticipates a cut next month. President Donald Trump's sweeping tariffs on hundreds of trading partners around the world could affect the cost of most of the imports that businesses buy from overseas. With a myriad of rates as high as 50%, businesses may be faced with a new maze of rates and tariff bills, as well as the uncertainty that comes with the on-again, off-again tariff rollout. "The Fed, by law, is supposed to maximize employment and stabilize prices. So it's inflation and employment that are really the twin towers of how we think about setting of rates," Goolsbee said, underscoring the Federal Reserve's role in the broader economy. "There are parts of the job market where there's still basically labor shortages. It's very hard for people to find workers. And that's what you kind of saw here at the donut factory," he said. Goolsbee oversees the Seventh Federal Reserve District, which includes Iowa, much of Illinois, Indiana, Michigan and Wisconsin. Some of his colleagues, including Jeffrey Schmid, of the Kansas City Fed; Alberto Musalem, of the St. Louis Fed; and Beth Hammack, of the Cleveland Fed, are sounding similarly cautious tones about the economy. All three current Federal Open Market Committee voters have said in recent days that it's either too early to decide or that keeping rates steady for now would be their preference. The futures market predicts the Fed will cut by 0.25% at its next meeting. But some, including Treasury Secretary Scott Bessent, think the Fed should make a more dramatic cut, by up to a half-point. Musalem said Wednesday on CNBC that a cut that large would be "unsupported by the current state of the economy." Amid unrelenting attacks from Trump and his administration against the FOMC and Chair Jerome Powell, Goolsbee, who was an economic adviser to President Barack Obama, said economic indicators should drive monetary policymaking, not politics. "The FOMC and my own thinking are that what should drive interest rate decisions should be the economic conditions and the economic outlook," he said. "I invite anybody to look at the minutes or read the transcripts of the FOMC — the people on that body take extremely seriously that it is the economy that should drive the decisions. And that is what drives the decisions." "This is a committee made up of people from a lot of different perspectives. And as I say, they keep track of, word for word, what everyone says at the meetings. And you can look at it yourself."
NBC News
2 hours ago
- NBC News
Chicago Fed President Goolsbee thinks central bank should wait a few months before cutting interest rates
What does a donut tell us about the state of the economy? Chicago Federal Reserve President Austan Goolsbee thought about that Wednesday as he toured Mel-O-Cream Donuts in Springfield, Illinois. Even inside a donut shop, the effects of tariffs on the economy can be seen. 'It's sort of surprising, because donuts seem like a very local product, and yet they get some ingredients like palm oil that are coming from Indonesia,' Goolsbee said. The Trump administration set tariffs on Indonesia at 19%. 'They have to now figure out what are the tariff rates, and the tariffs went up a significant amount. If that happens, that could have a multi-thousand-dollar impact on their operation,' he continued. But, he added, 'I hope it's not a sign of something more extended or broader in the way that the Covid inflation ... generated its own snowballing, in which it was supposed to go away and it didn't go away.' That tariff will cost Chris Larson, a co-owner of Mel-O-Cream, 'about $4,000 per shipment per week,' he said. And that used to be somewhere 'closer to $2,000 to $2,100 weekly. Now it's going to move up to $4,200 ... for the exact same product.' Goolsbee's visit matters because he's one of just 12 people in the country who get to decide what to do with interest rates. The Fed's rate-setting committee will next decide whether to cut or hold on Sept. 17, and the perspectives of businesses like Mel-O-Cream are instrumental in helping him determine his next vote. Larson's hope? That the Fed will cut interest rates, which would help Mel-O-Cream finance new equipment to cut costs in labor and blunt the impact of tariffs. 'What is the cost of money in order to expand, to upgrade, to update? What do those things look like?' Larson said. 'Those things do concern us, and we would love to see, as everyone would, the interest rates would come down.' Goolsbee said he wasn't yet ready to tie his hands to an interest rate cut in September. 'Let's get a few months of data before we make any conclusions. The hardest thing that the Fed ever has to do is get the timing right at moments of transition,' he said Wednesday on NBC News' 'Here's the Scoop' podcast. 'I think as we go through this fall, September, November, December, all of those are live moments that we could be cutting rates.' Government data Thursday showed that wholesale prices paid by U.S. companies rose much more than expected. Another measure, the consumer price index, showed Tuesday that inflation remained stubbornly high in July. The Fed's target for inflation is 2%, lower than the most recent consumer inflation reading of 2.7% and producer inflation reading of 3.3%. Even with those numbers, the market still anticipates a cut next month. President Donald Trump's sweeping tariffs on hundreds of trading partners around the world could affect the cost of most of the imports that businesses buy from overseas. With a myriad of rates as high as 50%, businesses may be faced with a new maze of rates and tariff bills, as well as the uncertainty that comes with the on-again, off-again tariff rollout. 'The Fed, by law, is supposed to maximize employment and stabilize prices. So it's inflation and employment that are really the twin towers of how we think about setting of rates,' Goolsbee said, underscoring the Federal Reserve's role in the broader economy. 'There are parts of the job market where there's still basically labor shortages. It's very hard for people to find workers. And that's what you kind of saw here at the donut factory,' he said. Goolsbee oversees the Seventh Federal Reserve District, which includes Iowa, much of Illinois, Indiana, Michigan and Wisconsin. Some of his colleagues, including Jeffrey Schmid, of the Kansas City Fed; Alberto Musalem, of the St. Louis Fed; and Beth Hammack, of the Cleveland Fed, are sounding similarly cautious tones about the economy. All three current Federal Open Market Committee voters have said in recent days that it's either too early to decide or that keeping rates steady for now would be their preference. The futures market predicts the Fed will cut by 0.25% at its next meeting. But some, including Treasury Secretary Scott Bessent, think the Fed should make a more dramatic cut, by up to a half-point. Musalem said Wednesday on CNBC that a cut that large would be 'unsupported by the current state of the economy.' Amid unrelenting attacks from Trump and his administration against the FOMC and Chair Jerome Powell, Goolsbee, who was an economic adviser to President Barack Obama, said economic indicators should drive monetary policymaking, not politics. 'The FOMC and my own thinking are that what should drive interest rate decisions should be the economic conditions and the economic outlook,' he said. 'I invite anybody to look at the minutes or read the transcripts of the FOMC — the people on that body take extremely seriously that it is the economy that should drive the decisions. And that is what drives the decisions.' 'This is a committee made up of people from a lot of different perspectives. And as I say, they keep track of, word for word, what everyone says at the meetings. And you can look at it yourself.'
Chicago Tribune
3 hours ago
- Chicago Tribune
Aurora City Council pushes back on possible reductions in support for Paramount
The city of Aurora is looking at pulling back on discussed financial support for the Aurora Civic Center Authority, which owns and operates the Paramount Theatre, but some City Council members are saying they're concerned about the possibility. The matter came up at Tuesday's Aurora City Council meeting, when the council heard a presentation on the city's 2024 audit and discussed the city's future financial concerns. The presentation described the city's use of American Rescue Plan Act, or ARPA, funds during the COVID-19 pandemic, money which had to be obligated by 2024 and spent by 2025, Aurora Chief Financial Officer Stacy Peterson told the council. Much of that funding was spent on ongoing costs, she said, like the ShotSpotter system, body cameras and dash cameras for the police, the addition of 49 full-time employees and financial support to things like the Aurora Civic Center Authority. Peterson also noted that costs for the city went up in 2024, as did the city's debt, and revenue stayed the same or went down slightly. Aurora is facing a significant budget gap for the coming year, Mayor John Laesch recently said. In addition to other attempts to cut costs or generate more revenue, one recent move was the cancellation of the proposed City of Lights Center theater and event space that would have been managed by the Aurora Civic Center Authority, according to past reporting. The project didn't make sense to him or others, and the price was just too high, Laesch has said. Laesch also recently said that the city has been giving the Aurora Civic Center Authority 'way too much,' according to past reporting. In addition to the Paramount, the Aurora Civic Center Authority owns and operates the Copley Theatre, Paramount School of the Arts and North Island Center, as well as manages the city-owned RiverEdge Park and Stolp Island Theatre. Earlier this month, ACCA said in a letter to subscribers that the city's previously-communicated financial support of the organization could be reduced by up to 65%, a change made after programming and budgeting had already been committed for 2026, according to past reporting. The organization said its Bold Series would be going on hiatus after the final performance of its current production, 'True West,' on Aug. 31 at the Copley Theatre in downtown Aurora. ACCA also reduced its full-time staff by around 20%, President and CEO Tim Rater previously said. ACCA was facing a $7 million shortfall in its 2026 budget, and under former Mayor Richard Irvin, the city was considering filling that gap, according to past reporting. That planned support represented roughly 20% of the organization's overall yearly budget, according to Rater. In a statement, Laesch reiterated that the ARPA funding that had previously been supporting the Aurora Civic Center Authority was no longer available, and he said that the city has offered to help with fundraising, cross-promotion and other initiatives to help the organization's finances. A spokesperson for the Paramount on Thursday said that it is continuing to negotiate with the city, but declined to comment further on the organization's plans going forward. At Tuesday's City Council meeting, council members noted that there had been pushback from constituents about the possibility of the city reducing financial support for the Paramount. Ald. Jonathan Nunez, 4th Ward, said that 'upset is an understatement' in terms of the response he's gotten from constituents. 'Our budgeting and our revenue and expense proposals are basically a reflection of our community's values,' Ald. Carl Franco, 5th Ward, said at Tuesday's meeting. 'I think we all know how the community feels about the value down there … it seemed like that was a harsh way to start.' Laesch said at the council meeting that the city has never had a budget line for ACCA, and that Aurora is facing significant financial challenges. The city will provide an update to the council on its financial situation on Aug. 26, per the presentation from Tuesday's meeting. 'I think when you get the Aug. 26 financial update, I think you'll probably realize just how serious of a financial situation the city's in,' Laesch said. 'I'd say that it (is) probably going to be pain felt all over.' But City Council members expressed concern that possible cuts to the Paramount would have an impact beyond the theater itself, to surrounding businesses and restaurants, for example. 'The engine, as we know, is the arts down here, and I hope it doesn't affect them,' Franco said. 'I hope … that it doesn't see them leaving, because that's revenue for us.' Ald. Patty Smith, 8th Ward, said it might mean less people coming to Aurora overall. 'The cuts are going to come back at us,' Smith said. 'The people that come to Aurora because of our Paramount will no longer be coming here because we're not going to be offering the quality and the shows and the amount of shows that we have had in the past.' Ald. Edward Bugg, 9th Ward, said there was a 'gap here … in terminology,' noting that city funds for ACCA hadn't been budgeted yet, but were merely projections for next year. Ald. Will White, at-large, said he believes the city should support the arts, but asked if there is any oversight from the city as to how money is spent when they give it. Laesch said he thinks the city can look at its finances, and said that the city will need to have some oversight on the accounting at ACCA. As the city continues to grapple with its financial troubles, the council on Tuesday suggested some direction for how it wants the city to proceed in supporting the Paramount. Ald. Michael Saville, 6th Ward, for example, advocated for 'more of a soft landing to assist them, rather than something so drastic.' 'I think everybody recognizes that (funding) needs to be cut,' Saville said. 'The question is: can we do it in such a way where it doesn't hurt their programming and doesn't hurt the businesses and doesn't hurt the economic activity that we've established here?'
