State auditor's review of La Stadium and Exposition District highlights pandemic's impact on economy
NEW ORLEANS - For nearly a year, the global community has been fighting COVID-19's debilitating health effects and resulting financial losses. Like most states in the U.S., Louisiana's economy took a major hit during 2020.
The pandemic's blow to one of the state's major industries was highlighted in a Dec. 11 report from the state auditor's office.
After inspecting the Louisiana Stadium and Exposition District, an analyst noted that while the district’s records and statements reflected a high level of organization and integrity, the District received $37.7 million in hotel occupancy tax revenue, which was a decrease of $17.5 million from fiscal year 2019.
The decrease in tax collections was a result of the COVID-19 crisis, the auditor explained, which has caused a sharp reduction in travel to New Orleans and the number of events held in the city.
The auditor added that the District also received $9.8 million in grants and contributions to pay for various capital projects and improvements for the Mercedes-Benz Superdome, the Alario Center, the Bayou Segnette Sports Complex, and the TPC golf course.
According to its website, the Louisiana Stadium and Exposition District is a state agency/political subdivision comprised of seven members appointed by the governor. The board's primary purpose is to plan, finance, construct, develop, maintain and operate facilities located within the District for events of public interest.
The District is responsible for the John A. Alario Sr. Event Center, Mercedes-Benz Superdome, Smoothie King Center, New Orleans Saints Training Facility, TPC Louisiana, and the Shrine on Airline Highway.
Click here to view the auditor's full report.
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