THANK YOU TO ALL WHO WORKED HARD, CONTRIBUTED, VOTED AND SUPPORTED THIS EXTREMELY IMPORTANT ECONOMIC INITIATIVE.
RESULTS: THE 1% LOT WAS PASSED BY 60%+ MAJORITY IN SUN VALLEY BUT FELL JUST SHORT OF THE 60% MAJORITY NEEDED IN KETCHUM AND HAILEY.
FULL ELECTION RESULTS ARE POSTED HERE
WATCH YESTOAIR – HELP OUR ECONOMY SOAR!
THE NOV 6 BALLOT INITIATIVE:
A temporary additional 1% Local Option Tax
Dedicated to supporting and promoting commercial air sevice access to Sun Valley.
1% would be added to all items currently subject to LOT in Ketchum, Sun Valley and on rental cars & lodging in Hailey.
The additional 1%FOR AIR LOT will raise $2MM annually for air service development if voters approve.
Incremental cost of the 1% for Air LOT is $.50 on each $50 purchase
Historically, 80% of LOT is paid by visitors
WHY WE NEED TO INVEST IN AIR SERVICE
“Strong, reliable air service access is the #1 priority for the future success of our business”
– Tim Silva, General Manager, Sun Valley Resort
“Quality commercial air service from Hailey is critical to our global business and in keeping our corporate headquarters here. ” – Frank Halverson, VP and Director, Power Engineers, Inc.
3. IT’S VITAL FOR RESIDENT TRAVELERS & QUALITY OF LIFE
“My family can live here and contribute to the community because air service allows me to travel as needed for work.” - Charles Conn, business consultant
4. IT’S VITAL FOR PROPERTY VALUES
“Improved air service access is key to property value recovery and appreciation.”
- Jed Gray, President, Sun Valley Board of Realtors
OUR CURRENT SITUATION
- Our limited and declining air service access is hurting our economy.
- Over past 10 years we have LOST -44% of air seats and -31% of enplanements.
- This means a significant loss of customers, cash and convenience
WE ARE THE ONLY ROCKY MTN SKI AREA WITH A NET LOSS OF AIR SEATS OVER PAST 10 YEARS!
- Our community has fallen far behind our competing Rocky Mt. communities in non-stop air service.
- Other communities have partnered financially with their resorts to build successful air service programs.
- The only way for our community to secure new air service is to ‘buy it’ (with Minimum Revenue Guarantees – MRGs).
- The only way to succeed once new air service is secured is to promote it.
- A 1% LOT for air service in the WRV would generate around $2MM per year for 5 years.
THIS NEW AIR SERVICE DEVELOPMENT INITIATIVE WOULD:
- Maintain LAX & SEA non-stop flights; increase promotion to increase passengers
- Procure and promote new SFO seasonal non-stop service
- Procure and promote 2 additional non-stop destinations over the 5 years
THE RESULTS WOULD BE:
- 24,000 more visitor passengers over 5 years. (15,000 visitors; 9000 2nd homeowners
- $40MM annual direct spending by these passengers in our local economy
- $120MM annual total economic impact (w/3x multiplier)
- $400MM cumulative total economic impact over 5 years
Maintaining and enhancing our commercial air service is not only necessary if we are to grow our economy, but it will have a large effect in the first year, unlike any other initiative.