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MARKET <br />ANALYSIS <br />• <br />• <br />• <br />• <br />in the growth and development of the City <br />of Everett and the Everett market. <br />General statistical analyses of the population <br />demographics and income characteristics <br />within the designated market area <br />(Snohomish, Skagit, and Island counties) of <br />the proposed facility. <br />Statistical analysis of Everett's <br />demographics relative to other metro areas, <br />which currently support comparable arena <br />facilities at the 8,000-seat to 10,000-seat <br />level. <br />Written surveys distributed to a statistically <br />✓ alidated sampling of the Everett market to <br />assess demand and spending tolerances for <br />arena eents in quantitatk e terms. <br />Statistical analysis of the depth of the <br />corporate market in Everett relative to other <br />communities currently supporting or seeking <br />to develop minor league arenas. <br />Telephone interviews with representatives <br />within the relevant regional concert <br />promoters and national touring family shows <br />to identify their level of awareness of and <br />interest in the Everett market. <br />Telephone interviews with business leaders <br />to assess corporate demand for the purchase <br />o f specialized seating and various types of <br />advertising within a new arena facility in the <br />Everett market. <br />Telephone interviews with promoters to <br />determine the need for a mid -size arena and <br />the level of industry interest in addition to <br />gaining a baseline understanding of the <br />e vent market in Everett. <br />Review of available secondary statistics of <br />similar facilities in comparable markets. <br />Findings: Market Strength <br />Constituent Interviews <br />Brailsford & Dunlavey interviewed <br />local government officials, employees of the <br />Convention and Visitors Bureau and various <br />community leaders involved in the <br />redevelopment and revitalization efforts for the <br />City of Everett. The purpose of these interviews <br />was to determine the strategic value of' the <br />proposed multi -purpose arena and evaluate the <br />level of support for such a facility from the <br />general public and the local government. <br />Interviews conducted with public sector <br />o fficials focused primarily on current <br />characteristics and future trends in the local <br />residential and business markets, current and <br />future redevelopment efforts, and the nature of <br />the local demand for sports and entertainment <br />o pportunities. The dominant market <br />characteristics emerging from these discussions <br />were the transition of the local economy fiom a <br />primarily industrial (i.e., mills, etc.) based <br />economy to a more service industry (i.e., <br />insurance, banking, etc.) oriented economy, the <br />o verall stability of the residents, the growth <br />potential of the corporate base, and the <br />increasing percentage of younger families living <br />in the area. <br />Interviews with community leaders <br />revealed a desire to re-create the City of Everett <br />as a destination point. There is general <br />consensus that despite proximity, travel to <br />Seattle for entertainment purposes is <br />inconvenient due to traffic. The City of Everett's <br />strategic location north of Seattle provides an <br />e xcellent opportunity to capitalize on mid -size <br />City of Everett — Arena Feasibility Analysis <br />Page 10 <br />