A new report released by the Cortland County Convention and Visitors Bureau highlights the strict importance of tourism in Cortland County’s economy.
According to data released from Tourism Economics, an Oxford Economics Company, New York State’s tourism economy hit a record high last year, pulling in nearly $67.6 billion – 27% above the state’s pre-recession peak in 2008.
Tourism in the Finger Lakes Region, where Cortland County is located, is a $3 billion industry, increasing 2.4% over last year and supporting 58,242 jobs.
Cortland County’s tourism impact is also up 0.7% from 2016, or $71.9 million in traveler spending. In terms of what the money is being spent on, Food and Beverage leads the way at $31.7 million, Lodging at $14.4 million, Retail Sales at $13.7 million, Recreation at $5.6 million, Second Homes at $5.2 million, and Transportation at $1.3 million.
The report also shows the effects of tourism employment on the county, showing Cortland County’s total labor income to be $34 million. Cortland County is also collecting around $8.6 million in state and local taxes because of its tourism, lowering the taxes of the average county household about $486 per year.