$700 million of White Gold: What snow and skiing mean to Vermont’s economy

Skiers and riders rejoiced over major March snowstorm Vulcan last week, but they aren’t the only ones that benefit from snowfall and cold weather in Vermont’s green mountains. Even those that are dreaming of summer in Vermont reap the economic benefits of our official state sports, as they bring in major spenders from surrounding states and generate hundreds of millions of tax revenue dollars.
Vermont’s ski and snowboard industry draws over $700 million in statewide spending each winter season. Think that money just gets spent at the mountains? Think again. Two-thirds of that spending occurs off-mountain in surrounding villages and towns, supporting many local businesses with the ski economy running deep throughout our communities. Those significant winter traveler expenditures generate another $700 million in indirect spending, totaling nearly $1.5 billion in economic benefit for Vermont’s economy.
A substantial component of the visitor spending triggered by major snow accumulations is found in the rooms and meals tax revenues, with the influx of winter visitors booking lodging reservations in Vermont and excitedly seeking out a taste of our great local foods and brews. These tax revenues top $120 million annually, with the winter season generating a significant portion of that critical revenue stream.
Vermont ski and snowboard resorts also spend over $200 million with nearly 3,000 Vermont companies to stay operational. They employ over 12,000 people seasonally and are responsible for 22,000 indirect jobs off-mountain. In addition, the seven ski areas on state land generate over $2.5 million in lease payments to the state, which pays for about half of the annual state parks operating budget.
So whether a winter enthusiast or not, when you see those white flakes falling from the sky, know that there are dollar signs hidden in their complex structure and that all Vermonters benefit from the white gold of winter.
Source: Ski Vermont 3.18.2014