August 8, 2013
It has been the conversation piece du jour - the PGA Championship at Oak Hill Country Club in Rochester this week. Whether at Wegman's, strolling down Park Ave, or conversing with clients in meetings, golf's final major is on the minds of many in our area. Play starts Thursday and culminates with the final round Sunday afternoon, ending a process that began several years ago when Oak Hill was announced as the host of this year's PGA Championship.
As with other notable happenings in Rochester, it's worth taking a look at the economic impact of an event, and the PGA Championship is no different. Local leaders say that this week's tournament will pump $78 million into the local economy when all is said and done. Lawmakers have also made it a point to illustrate the creation of 1,100 jobs that have been created by the PGA's weeklong stop in Rochester. It's easy to see the benefits when considering the amount of hotels, food, and transportation and staffing that the PGA requires, most of which comes right from Rochester.
Charitable giving has also been a major focus of the PGA over the years in each town that hosts the Championship. Brighton Securities was a sponsor of this year's Leader's Build Week as part of Habitat for Humanity's annual campaign to build homes for those in need. Volunteers from the PGA, and even the families of some pretty famous golfers chipped in as well to help with the creation of these homes.
Summer 2013 will go down as an historic event in Rochester, as we must not forget that the Wegmans LPGA Championship also crowned a champion here, making our community the first to host two major golf championships in the same summer!
It won't be long before the tournament ends, a champion is crowned, and the tournament leaves town. The memories will last for quite some time, and so too should the economic benefits enjoyed by our area.
(This article contains the current opinions of the author but not necessarily those of Brighton Securities Corp. The author's opinions are subject to change without notice. This blog post is for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. References to specific securities and their issuers are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities).