CLEARWATER, Fla. (June 9, 2014) — After a recession-imposed seven years of dwindling construction job opportunities, things are brightening on the construction front. Chief economist of the Associated General Contractors of America (ACG) Ken Simonson reported that the construction industry can expect an uptick of 15 percent in the job outlook for 2014.
Sports Facilities Advisory (SFA), a consultancy that produces institutional-grade financial forecasts for new sports complexes and then oversees opening and management of such complexes, is forwarding the momentum of increased job opportunities by helping municipalities and private developers obtain Wall Street financing.
The economic downturn in 2006-2007 had a profoundly negative effect on jobs nationwide, but construction workers experienced the brunt of that when more than two million jobs were lost since the start of the recession. But SFA, which had previously announced plans to support the economic recovery with the expansion of its sports and recreation facilities, is directly impacting the construction industry. The company has made it a mission to only take on projects it deems feasible to increase the likelihood that conservative lending institutions and private equity firms will be willing to fund.
SFA is involved in projects which are producing hundreds of millions of dollars in construction projects during the next five years, which CEO Dev Pathik says is made possible by the fact that youth and amateur sports is emerging as an economic boom. One part of this work includes tournament-style facilities that fall within the sports tourism industry, which has a 2018 projected contribution of $600 billion to the economy. This increase in sports tourism will lead to rapid building of more complex sports facilities to host the newer, bigger crowds—and SFA is playing a major role in ensuring that the construction industry does not leave any slack in this area.
SFA has assisted in the construction of millions of square feet of indoor youth and amateur sports facilities and more than 800 acres of outdoor complexes that have created construction and employment opportunities. One such facility is Rocky Top Sports World in Gatlinburg, Tenn. Slated to open in July, the facility has already booked events which will attract more than 30,000 new visitors to Gatlinburg in 2014-2015 and create tens of thousands of hotel room stays for the Smoky Mountain city. SFA and its sister company, The Sports Facilities Management L.L.C., is also hiring dozens of facility staff, general managers and advisors to support the companies’ growth.
SFA has offered services to industry leaders across the board as an effort to boost the economy. Its planning, management and funding services have served as economic stepping stones, being that the company helped redirect cash investments into the industry that had been so severely wounded. SFA will be hiring workers in its corporate offices and in: Gatlinburg, Tenn; Myrtle Beach, S.C.; Spartanburg, S.C.; Rochester, N.Y.; Long Island, N.Y.; Iowa and Connecticut.
“SFA is contributing to the recovery [of the construction industry] because new complexes often require infrastructure development, such as new roadways and parking,” said Pathik. “These facilities become destinations within their communities that attract visitors, and can be used to revitalize an area.”
“Sports tourism is a wave of opportunity that is creating healthy places for kids and families to play across a variety of industries. As we emerge from a recession which left many Americans in dire straits, it is paramount for everyone to take notice of the vitality of sports tourism and the economic benefits it offers,” says Pathik. For more information, visit
sportadvisory.com.
