Some of you are already getting ready for the half marathon. I am not. But as a Central Ohioan, I will benefit from the marathon. I was discussing the event with a former student of mine, Kurt Roush, who is a marathoner and who also runs the consulting clinic, Fisher Professional Services (FPS) I founded at Fisher College. He reminded me an event like this has a big economic impact on the community. His group did a study in December on the economic impact of the Nationwide Insurance Columbus Marathon. I suggest you at least skim it. It’s well written and pretty compelling. The bottom line is; this one day event generates somewhere in the neighborhood of $13MM in total economic impact through direct spending of participants and their guests and indirect spend influenced by the event which is not attributable to the participants and their guests.
Particularly interesting was the work FPS did to quantify – the health benefits of the event. The team determined how many people became physically active as part of their preparation for the marathon. Presumably, there are also benefits that accrue to someone who is physically active and remains that way, but this study only looked at the health impact on those who were inactive and became active in order to participate in the event. The estimated healthcare savings among this group is a respectable $687,000. This figure actually has to be an understatement because it assumes no benefit to people who are already active that participate and people that are affected by the runners training in a positive way. Being encouraged to run with them or simply get more active.
I know some of my readers are clients for whom we are measuring the impact of their activities in what I call the non-commercial sector. I call your attention to the final section of the SPF report where it discusses the lifetime impact of the marathon to-date. This is a very neat and succinct presentation of what we all know which is that these things can make a large difference over time.
Since I won’t be running with you, I will offer the following words of wisdom to those of you who are running; spend lots of money while you’re here!Author’s note: The “Coolumbus” tag within my blog is a response to the fact that I don’t see enough about our great city and its many cool things. So ridicule if you will, this is just my idea of what’s cool in Columbus or “Coolumbus”. Click here to read other Coolumbus posts.