Global Spectrum, the company hired to manage the Iowa Events Center, told the Polk County Board of Supervisors today that the county will receive $510,505 in profits for fiscal year 2012-13.
This is the second time in the history of the events center, which includes Wells Fargo Arena, Hy-Vee Hall and Community Choice Credit Union Convention Center at Veterans Memorial, that the profit to Polk County has exceeded $500,000.
The events center has hosted 483 events in the past fiscal year, including concerts featuring Jon Bon Jovi, Kenny Chesney and Bob Dylan and events such as the NCAA Division I Wrestling Championships.
Global Spectrum expects a profit for the 2013-14 fiscal year, due in part to hosting more short-term corporate events and weddings at the convention center, said Chris Connolly, general manager of the Iowa Events Center, in a press release.
The company expects revenues of $18.9 million, and expenses of $18 million, according to the budget approved today by the county. Polk County is budgeted to net $116,739 from Global Spectrum in fiscal year 2013/14.
Wells Fargo Arena will also welcome a new permanent tenant this year with the Iowa Wild American Hockey League team, which will join the Iowa Energy and Iowa Barnstormers as professional sports tenants.
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