DICKINSON, N.Y. — The economic impact of tourism in Broome County reached $626 million between direct sales and personal income in 2024.
“This enhanced economic impact has resulted in 5,854 jobs in our area, further demonstrating the importance tourism plays in supporting Broome County and its communities,” Visit Binghamton said in announcing the data.
Overall visitor spending in Broome County reached over $428 million in 2024, an increase of 5.2 percent over 2023. Visitor spending is distributed between lodging, recreation, transportation, food and beverage, and retail. The lodging business had the highest visitor spending with visitor expenditure of $141.6 million followed by food and beverage at about $167.3 million.
(Sponsored)
Maximizing Tax Benefits for Energy-Efficient Buildings
The Inflation Reduction Act (IRA) of 2022 significantly enhanced the Section 179D deduction, making it even more valuable for businesses investing in energy-efficient commercial building property (EECBP) and energy-efficient commercial
Assessing the Likely Tax Impacts of the 2024 Election
President-Elect Donald Trump will return to the White House in 2025 — a year that already was expected to see significant activity on the federal tax front. A projected unified
Tax revenue
Tourism generates substantial local taxes for Broome County visitors, Visit Binghamton said.
Year-end tourism-generated taxes totaled $48.7 million in 2024. Tourism generated $26 million in local taxes (direct and indirect taxes combined), and $22.7 million in additional state taxes.
“The tax revenue generated from visitors provides critical funding for public services and infrastructure that ultimately supports the quality of life for all residents of Broome County. In fact, the final net revenue through tourism in Broome County contributed to a unique tax savings of an estimated $595 per household,” per the Visit Binghamton announcement.
Visit Binghamton also noted that a recent Tourism Economics Report, commissioned by New York State, demonstrates that tourism is a major economic driver for the Southern Tier and is a $3.5 billion industry in Central New York alone.
