Quick Answer
Ford Park in Beaumont, Texas is owned by Jefferson County. The multi-purpose arena and event complex was built in 2003 and is managed by SMG Worldwide Entertainment and Convention Venue Management. While the county owns the venue, it does receive some public funding from the City of Beaumont.
Overview of Ford Park
Ford Park is a large multi-purpose complex located in Beaumont, Texas. The venue features:
- A 10,000 seat indoor arena used for concerts, sports, and other events
- A 1,500 seat performing arts theatre
- A 20,000 square foot exhibit hall
- 12,000 square feet of meeting space
- Outdoor space for festivals and fairs
Since opening in 2003, Ford Park has hosted major concerts with artists like George Strait, Taylor Swift, and Bruno Mars. It is home to the ABA professional basketball team Beaumont Panthers. Other sports hosted include boxing and wrestling events. Family shows like Disney on Ice and circus performances commonly take place there. The venue also hosts graduations, conventions, trade shows, and other community events.
Construction and Opening
Ford Park was constructed at a cost of $88 million and opened in September 2003. Funding came from county-issued bonds that were approved by voters. An additional $3.5 million was provided by the state for infrastructure improvements.
The complex was built on a 174 acre site that was previously undeveloped land. It is located on Interstate 10 near the intersection of Highway 69, providing convenient regional access.
The venue was named Ford Park as part of a 10 year, $5 million naming rights deal with Ford Motor Company. The initial deal was renewed for an additional 10 years in 2013.
Ownership and Management
Ford Park is owned by Jefferson County. While the county owns the venue, it does utilize public funding support from other sources.
The City of Beaumont contributes approximately $1 million annually for operations and maintenance costs. Funding comes from the city’s hotel occupancy tax.
Management and operations are contracted out by the county. SMG Worldwide Entertainment and Convention Venue Management was awarded a 5 year contract in 2018 to manage Ford Park. The company manages over 230 venue facilities around the world.
Financial Losses and Future Plans
While Ford Park has brought many big name concerts and other events to Beaumont, it has also come at a high price for taxpayers. The complex has operated at a loss since opening and has required millions in public funding to sustain operations.
Financial Losses
In the 2018-2019 fiscal year, Ford Park incurred a net loss of $1.5 million. The total operating expenses for the year were $5.3 million against just $3.8 million in revenues.
The chart below summarizes the annual losses and public funding for Ford Park since its opening:
Fiscal Year | Net Loss | Public Funding |
2003-2004 | $2 million | $2.2 million |
2018-2019 | $1.5 million | $2.5 million |
Between 2003 and 2019, total losses amounted to over $23 million. Public funding from the city and county over the same period exceeded $30 million.
Future Plans
With Ford Park continuing to operate at a multi-million dollar annual loss, there have been proposals to privatize management. However, so far the county has maintained ownership and contracted management.
Other plans have included expanding booking of concerts, conventions, and other profitable events. Luxury box seating has been added along with other facility improvements aimed at enhancing revenues.
Despite the financial situation, Ford Park remains a centerpiece venue for the region and continues hosting major concerts, shows, and community events each year in Beaumont.
Impact on the Local Community
Although the costs to taxpayers are high, Ford Park has had both positives and negatives on the local Beaumont community.
Economic Impact
Ford Park contributes to the local economy both through direct employment and the visitor spending it attracts.
The venue has over 50 full-time employees. In addition, the concerts, conventions, and other events bring significant tourism traffic to local hotels, restaurants, bars, and retail stores.
Economic impact studies estimate that Ford Park generates between $10-20 million for the community on an annual basis. Events that draw visitors from outside the region have the greatest benefit.
Quality of Life Impact
Ford Park has also become a source of community pride and provides quality of life benefits for local residents.
Major concerts give music fans convenient access to see top touring acts. Families have an affordable option for events like Disney on Ice. Sports teams like the Beaumont Panthers foster community spirit.
The exhibit hall and meeting spaces also support local organizations by providing low cost venues for fundraisers, conferences, and other community events.
However, some criticize the millions in annual subsidies spent on Ford Park as excessive for the limited local benefits. The funds could alternatively support other services like education, infrastructure, or tax relief.
Conclusion
In summary, Ford Park is a 174 acre multi-purpose venue owned by Jefferson County and located in Beaumont, Texas. Since opening in 2003, it has incurred over $23 million in net losses and received over $30 million in public funding. The costs have been controversial, but Ford Park has become a staple venue for major concerts, community events, and urban pride. Despite the finances, Jefferson County continues to own the complex and subsidize the operations. Going forward, the venue will likely remain a centerpiece of the Beaumont community for the foreseeable future.