The president of the Kentucky State Fair Board says it’ll lose money next year but should be operating in the black within two years.
Cliff Rippetoe testified Monday (Nov. 25) before the Kentucky Legislature’s Interim Joint Committee on Appropriations and Revenue. He says the board is projected to lose two-point-three million dollars in the next fiscal year, but should generate two-point-five million dollars over expenses the following year.
Rippetoe says with a new business plan, they are reducing utility and labor costs and will focus on a core of activities moving forward.
“Our purpose is to enhance the trade show, convention, tourism and agriculture industries, while honoring our agricultural roots so that we can drive economic impact to the commonwealth.” –Cliff Rippetoe
Rippetoe says the Kentucky State Fair, North American Livestock Expo and National Farm Machinery Show have a combined economic impact of more than 55-million dollars on the Commonwealth.
The board operates the state fairgrounds, including the Exposition Center and Old Cardinal Stadium. Its revenues were severely impaired in 2010 when the Louisville Cardinals men’s and women’s basketball teams moved their games to the Yum Center and Six Flags Amusement Park decided to close.