Memphis Zoo says attendance dropped after 2022 crimes, leading to deficits
Zoo officials shared attendance and revenue numbers with Memphis City Council members Tuesday, showing more than 1 million visitors to the zoo in 2019, and again in 2022 after attendance rebounded following the COVID pandemic closure.
But those numbers dipped by close to 20% beginning in 2023, leading to operating deficits the past two years.
'We saw a tremendous decrease in our attendance,' said Matt Thompson, president and CEO of the Memphis Zoo. 'If people aren't coming through our gate, then we aren't making revenue.'
State commits $20M for Memphis Zoo expansion
Thompson told council members the decline was directly related to the kidnapping and killing of Eliza Fletcher and the mass shooting carried out by Ezekiel Kelly.
Both crimes struck in the Midtown area in late 2022, and Thompson said they scared away visitors who have never come back.
'We were told directly by our members that people were nervous to come back into the city,' Thompson said. 'We've seen some people leave the city, we've seen that kind of thing. Our numbers have been very, very slow to come back.'
The revenue decline is creating a need for an additional $3 million, Thompson said, and the zoo is asking both the city and county for $1.5 million each. The zoo plans to use that money for deferred maintenance.
The city's management fee for the zoo is currently $1.2 million, the same as it was in 1989, Thompson said.
Still, there were many positive notes in the zoo's presentation. The Memphis Zoo is the top attraction in West Tennessee and was rated the No. 2 zoo in the country, with 52% of visitors coming from outside the region, creating an economic impact of $89.4 million.
SCSO says mom who drove into pond in Cordova was not drugged
The Memphis Zoo is undertaking a $250 million campus plan that will add an Africa exhibit featuring elephants, and an Oceans to Forests exhibit with both aquarium and rain forest habitats over the next three years.
Council members were supportive of the zoo's efforts and offerings, though they asked for more details on the zoo's finances.
'Our zoo is one of the best zoos in the world, and it's one of the treasures of our city, so it's budget season, we'll get through this, and you have my support,' Councilman Philip Spinosa said.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Business Wire
an hour ago
- Business Wire
Avangrid Earns 2025 Military Friendly Employer Designation
ORANGE, Conn.--(BUSINESS WIRE)--Avangrid, Inc., a leading energy company and member of the Iberdrola Group, today announced it earned a 2025 Military Friendly Employer designation from Military Friendly. Military Friendly is the standard that measures an organization's commitment, effort, and success in creating sustainable and meaningful benefits for the military community. 'At Avangrid, we deeply value the service and sacrifice of our military community,' said Avangrid CEO Jose Antonio Miranda. 'Earning the Military Friendly Employer designation is a reflection of our ongoing commitment to creating an inclusive workplace where veterans and service members can thrive. We're proud to support their transition to civilian careers and to foster an inclusive environment that honors their leadership, resilience, and dedication.' As a Military Friendly employer, Avangrid has been recognized for its commitment to serving the military and veteran community through the company's policies, practices, and outcomes in six critical areas: support and retention; opportunity and advancement; hiring and onboarding; culture and commitment; policies and compliance; and recruiting and sourcing. Avangrid is committed to supporting its employees who serve or have served in the military through the company's extensive health and wellbeing programs, vibrant employee communities, and opportunities to learn and grow. This includes Avangrid's military policy, which supports and assists those in the uniformed services by providing pay and benefits that exceed federal requirements. Additionally, Avangrid has an employee resource group—AVAN-Veterans—dedicated to promoting career development and enrichment for Avangrid employees who have served. This group is open to all employees and provides community building, networking, and professional development. This group hosts a regular coffee chat series where they support locally owned businesses and hold recruitment events focused on helping veterans transition out of active duty and into the workforce. About Avangrid: Avangrid, Inc. is a leading energy company in the United States working to meet the growing demand for energy for homes and businesses across the nation through service, innovation, and continued investments by expanding grid infrastructure and energy generation projects. Avangrid has offices in Connecticut, New York, Massachusetts, Maine, and Oregon, including operations in 23 states with approximately $48 billion in assets, and has two primary lines of business: networks and power. Through its networks business, Avangrid owns and operates eight electric and natural gas utilities, serving more than 3.4 million customers in New York and New England. Through its power generation business, Avangrid owns and operates more than 75 energy generation facilities across the United States producing 10.5 GW of power for over 3.1 million customers. Avangrid employs approximately 8,000 people and has been recognized by JUST Capital as one of the JUST 100 companies – a ranking of America's best corporate citizens in 2025 for the fifth consecutive year. The company was named among the World's Most Ethical Companies in 2025 for the seventh consecutive year by the Ethisphere Institute. Avangrid is a member of the group of companies controlled by Iberdrola, S.A. For more information, visit
Yahoo
an hour ago
- Yahoo
Oil Drilling Stuck Near 4-Year Lows, Thanks to Energy Policy Puzzle
'Drill, baby, drill' — the pro-oil mantra that the Trump administration rode in on in January — is playing out more like 'chill, baby, chill.' The number of operating US oil and gas rigs held flat at 539 last week, according to Baker Hughes. The figure, seen as a key indicator of future output, is hovering near four-year lows and has fallen by 47 rigs in the past 12 months. READ ALSO: Homebuilders Offer Best Incentives Since COVID and Meta Focuses on New Smart(er) Glasses The Rig is Up The White House essentially rolled out the petroleum-based polyester red carpet for the oil and gas industry this year, cutting regulations, offering up more public land for drilling at slashed royalty rates, ending wind, solar and electric vehicle incentives; and sticking tax giveaways in the GOP's One Big Beautiful Bill Act. But it takes a world to move oil markets, which ultimately dictate the incentives to drill, and even the might of a US administration ideologically devoted to fossil fuels has struggled to change that. The proof is in the macro. Oil inventories are set to accumulate at 2.96 million barrels per day next year, pushing the world toward a record supply glut, the International Energy Agency's (IEA) latest monthly report said last week. Global oil demand is also growing at less than half the rate seen in 2023, the IEA added, while consumption in the world's second-largest economy, China, is set to peak earlier than expected in 2027. On the supply side, OPEC+, which includes Saudi Arabia and Russia, is set to hike production next month despite warnings from the IEA that it could tip the world into oversupply later this year. And all of this means that the price of oil is under pressure: The US crude oil benchmark, West Texas Intermediate, was at $63 on Friday, not far off the $62 four-year low it touched in May. Most oil and gas analysts calculate that the break-even point for newly drilled wells is about $60 per barrel, but that doesn't factor in elevated tariffs on raw materials like steel and equipment that companies are now facing. There are, nevertheless, some signs that future demand could pick up: Wood Mackenzie analysts estimated earlier this year that a slower transition to clean energy, clearly the Trump administration's preference, could mean the world requires about 5% more oil per year than previously forecast beginning in the mid-2030s. Roughly 100 billion extra barrels of oil and gas, they estimated, would be needed by 2050 to close the resulting gap. Ultimately, the Trump administration's desired outcomes have yet to materialize. Oil output is increasing at a slower rate than it did last year. Prices at the pump have changed little since the president's inauguration. Crude oil exports are falling, including by nearly 12% year-over-year in May, the latest month with available data. The Dallas Fed's latest quarterly survey of oil industry executives was pessimistic, to say the least, with more than half saying they will probably drill fewer wells this year than they initially planned. Crude Outlook: The cost equation for US oil firms is also about to get worse: The US Energy Information Administration (EIA) said last week that it expects the per-barrel price of crude to fall below $60 by the end of the year and average close to $50 in 2026. Because of increases in well productivity, the EIA said it still anticipates that American crude output will hit a record 13.6 million barrels per day in December. Afterward, however, it expects US producers 'will pull back on drilling and well completion activity' and bring output down to 13.3 million per day. This post first appeared on The Daily Upside. To receive delivering razor sharp analysis and perspective on all things finance, economics, and markets, subscribe to our free The Daily Upside newsletter.
Yahoo
an hour ago
- Yahoo
AeroVironment (AVAV) Secures New Production Agreement For US$1.4 Billion Satellite Program
AeroVironment recently benefited from a new production agreement signed with Mercury Systems, aimed at supporting the U.S. Space Force's SCAR program. This development coincided with strong quarterly results showing a revenue increase, reflecting positively in a 46% share price rise over the last quarter. The agreement, alongside other client and product-related advancements like the partnership with SNC and the introduction of the Skyfall concept for Mars exploration, bolstered investor confidence. Despite broader market fluctuations impacted by tech stock slumps and Fed-related uncertainties, AVAV's focused advancements solidified its position for the period. Every company has risks, and we've spotted 4 risks for AeroVironment (of which 1 is a bit concerning!) you should know about. Uncover 13 companies that survived and thrived after COVID and have the right ingredients to survive Trump's tariffs. AeroVironment's new agreement with Mercury Systems is set to enhance the company's involvement in the U.S. Space Force's SCAR program, which could boost both revenue and earnings forecasts by adding crucial contracts and expanding its defense portfolio. This agreement aligns with the company's ongoing push for innovation in unmanned systems, thereby reinforcing its growth narrative driven by rising global defense spending and the strategic acquisition of companies like BlueHalo. Over the past five years, AeroVironment's total shareholder return, including share price and dividends, has soared by 215.66%, indicating robust long-term performance for investors. However, in the past year, the company's share price performance lagged behind the US Aerospace & Defense industry, which returned 31.7%. This suggests the potential for catching up in the coming periods, especially with recent strategic advancements and market expansions. The current share price stands at $247.13, showing significant movement toward the analysts' consensus price target of $280.83. If the company's projected revenue growth and earnings materialize, the share price could approach the target. However, challenges such as government contract dependencies and potential integration issues from prior acquisitions remain crucial factors to monitor. Upon reviewing our latest valuation report, AeroVironment's share price might be too optimistic. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include AVAV. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data