The Economic Impact of Paradise Cove Aquatic Center in Richmond, Kentucky

One of the most effective ways for rural communities to improve the local economy is by exploring opportunities related to tourism. When communities focus their resources on expanding and improving the tourism industry, it leads to additional opportunities for these communities to increase their revenue, provide jobs and revitalize the local economy. Like many other agencies, the Richmond Parks and Recreation Department has gradually expanded the tourism industry within the City of Richmond in Madison County, Kentucky. To help continue the expansion of this industry, Paradise Cove Aquatic Center opened in 2008. This decision was made because waterparks were becoming a more desired aspect within the tourism industry because they “offer the promise of serious tax dollars as well as a mix of temporary, seasonal and permanent jobs” (Rice, 2013). Since the opening of this waterpark, there has been a positive impact on the surrounding economy as well as improving tourism for the City of Richmond and Madison County, Kentucky. The Paradise Cove Aquatic Center has an approximate 1 million dollar impact on the local community (Sims, et al., 2016) annually. As recreation professionals, it is important to understand the economic impact of the facilities within our communities. By understanding this, community leadership may see which aspects of the tourism industry are the most beneficial to the community. The goal of improving the tourism industry within local communities is to meet the needs of the people and increase the capital flowing into our local economies