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Monday, January 09, 2012
IZOD CENTER POSTS STRONG 2011: 9th in United States 24th in World for Concert and Family shows
New Jersey's IZOD Center in East Rutherford, operated by the New Jersey Sports & Exposition Authority, posted strong results for 2011 as the entertainment industry in the State continued to prosper during these challenging economic times. According to the definitive
2011 POLLSTAR rankings
of ticket sales for concerts and family shows, the IZOD Center ranked 9th in the United States, 12th in North America and 24th worldwide.
"A strong concert, family show schedule allowed the IZOD Center to post excellent 2011 results and turn $2 million in net operating income for the year,” cited NJSEA Chairman Mike Ferguson. "Most importantly the major entertainment offerings at New Jersey's top venues bring not only excitement but revenue and economic impact to the entire region. As Triple Five completes its plan for the re-development of the American Dream}Meadowlands project it is clear the long –term strategy of the IZOD Center complementing the new attraction will guarantee economic rewards to North Jersey."
Jim Kirkos, CEO of the Meadowlands Regional Chamber comments "The IZOD Center continues to be a critical destination asset here in the Meadowlands that fills hotel rooms, restaurants and retail stores during every event. Hundreds of businesses in this region rely on the impact that event days bring."
Highlights in 2011 included sold-out concerts by Jay-Z and Kanye West, Britney Spears, GLEE, and Foo Fighters as well as a strong complement of family shows.
"On any number of occasions, North Jersey benefitted from having two major arenas as scheduling conflicts would have kept many events from coming to the State." concluded Mr. Ferguson.
“With the Prudential Center in Newark finishing 11th, the combined ticket sales for two arenas resulted in a nearly 40% increase from 2006, the last year of one major arena in the region. This dramatic increase came despite the economic downturn of recent years. The substantial increase in events supported jobs, increased the entertainment options for New Jerseyans, and generated State sales and income tax revenue as well as increasing overall economic activity within the region.” Ferguson concluded.