The economic impact of pandas and the Memphis Zoo.

The Memphis Zoo and Aquarium, a 96-year-old Memphis landmark, is one of the oldest attractions in the city. Located only a few miles from downtown Memphis and close to a MATA bus line, the Zoo offers city residents linkages to and a balance between the region's urban and rural environments.

Situated in a lush setting in Overton Park, the Memphis Zoo now draws more visitors per year than any other major attraction in the area, including Graceland. Since 1996, the Zoo has accounted for an average of 22.0 percent of the combined attendance at major Memphis attractions. Further, in 1999 and 2000, the Zoo accounted for 23.0 percent of the total. Table 1, which contains attendance figures for area attractions between 1996 and 2000, shows the fluctuations and declines in attendance. Only the Children's Museum had gradual but steady increases during this time period.

The number of visitors to the Zoo over the next few years is projected to increase dramatically due to the opening of the China Exhibit in July 2002, the addition of the giant pandas to the exhibit in 2003, and the opening of the Northwest Passage Exhibit Phase 1 in 2004-2005. While this is great news for the Zoo, it is equally great news for the city of Memphis. The city will realize substantial economic impacts during this time period since visitors from outside the Memphis Statistical Area (MSA) will infuse dollars into the local economy. However, the benefits that the Zoo brings to the city and its organizations go far beyond those that are direct economic impacts. The Zoo helps to define the quality of life or livability of Memphis, an aspect that adds value and attractiveness to the area and one that could give an edge to recruitment efforts when attempting to draw new families and businesses to the area.

To understand the scope of the quality of life impact of the Zoo, one needs to understand its nature. The Memphis Zoo and Aquarium is a dynamic, complex organization that provides unique educational and entertainment experiences for its visitors. The commitment to the Zoo's mission," to preserve wildlife through education, conservation and research;' has been evident in the multitude of programs and activities taking place at the Zoo. (1) It has forged partnerships with regional universities and global agencies to conduct research in animal conservation and preservation, adding to the information base around which educational programs and exhibits are developed. For example, the Zoo has developed alliances with Christian Brothers University, the University of Tennessee, Rhodes College, Mississippi State University, and The University of Memphis. Other collaborative research projects are being conducted with other zoos such as those in Atlanta, Cleveland, San Diego, Detroit, Cincinnati, and Washington, D.C.

Further, the Zoo has created a mix of special events to draw visitors and supporters through its gates. The events that are staged throughout the Zoo serve the interests of people of all ages and combine cultural, culinary, and educational experiences for attendees. Special events at the Zoo are numerous and provide a novel approach to educational and entertainment choices. One such event even offers children the opportunity to spend the night at the Zoo.

Special events at the Zoo have become increasingly popular with area residents. In 1984, 300 people attended the first Zoo Rendezvous sponsored by Charlie Vergos' Rendezvous restaurant; in 2002, approximately 3,000 visitors attended the event. The extensive offerings of amusement rides, eating establishments, picnic areas, special events, exhibits, and gardens continue to attract well over one-half million visitors to the Zoo annually, greatly enhancing the city's quality of life appeal.

How important is quality of life to a city? Dan Malachuk, Worldwide Director of Business Location Services, Accenture (formerly Andersen Consulting), advises that quality of life issues should not be taken lightly: "Quality of life is a major factor that industry executives consider when locating in an area; businesses need to be somewhere. ... Senior executives have a choice, and quality of life matters increasingly in attracting and retaining top managers" (2)