Youngstown Earns $159K in Profit from Downtown Venues
YOUNGSTOWN, Ohio – The city of Youngstown realized a profit of $159,486 in 2022 from Covelli Centre, Youngstown Foundation Amphitheatre and Wean Park.
In addition, it took in a record-breaking $335,612 in admission tax for the city from events at the three adjacent downtown venues.
The figures were detailed by JAC Management in its end-of-year report to Mayor Jamael Tito Brown and City Council.
The city owns all three venues, which JAC Management operates under a contractual arrangement.
Total income for the year for the three venues was $2,968,143, with total expenses of $2,808,654.
Covelli Centre’s year was highlighted by sold-out concerts by comedian Katt Williams, country music star Walker Hayes, Trans-Siberian Orchestra (two shows) and seven Disney on Ice performances, according to JAC’s report, which was signed by company president Eric Ryan. In its largest configuration, Covelli has a capacity of 5,900.
The Amp, which has a capacity of 4,800, saw its largest crowd ever for country star Lee Brice in 2022. It also hosted large crowds for concerts by Brett Eldredge, Cameo, Ja Rule and many community events.
Wean Park and Huntington Community Alley saw one of the largest crowds in Youngstown history when country superstar Luke Bryan played there in July. Attendance topped 20,000.
The income statement for the three venues for the year breaks down as follows:
- $562,932 from event rentals and services;
- $711,918 in ancillary income (concessions, souvenirs, parking, etc.);
- $463,980 in ancillary income (luxury boxes, rebates, fees);
- $1,229,313 in income from other items (luxury box agreements, advertising).
Total expenses for the year include:
- $1,324,434 for salaries and benefits;
- $434,063 for utilities;
- $229,455 for general and administrative expenses;
- $214,502 for supplies;
- $206,421 for operating expenses;
- $181,332 for repairs and maintenance;
- $180,123 for insurance;
- $35,728 for management fees;
- $2,596 for contracted expenses.
Published by The Business Journal, Youngstown, Ohio.