Waco: Extraco Events Center revenue down, but officials hope for a turnaround
WACO, Texas (KWTX) - Officials with the Extraco Events Center in Waco say revenue is down 50%, but they are hoping some new additions help turn things around.
The coronavirus pandemic has all but eliminated concerts, fairs, and rodeos.
Even if the show goes on, crowd levels are barely big enough to make any money.
It’s a reality that Extraco Events Center President and CEO Wes Allison currently faces.
“It’s really scary sometimes looking at being down 50% or more for months,” Allison said.
He says the event center had to cut a portion of the staff, with no timetable on when those affected are going to be hired back.
“It’s a terrible situation and it’s terrible for the employees that were laid off,” he says.
One thing that is keeping them afloat is traditional agriculture programs.
“We are a great horse show facility and livestock facility,” Allison said.
“We are continuing to do those and that’s been our bread and butter for years,” he says.
However, money is still an issue.
“While those things support some of our needed revenue, they don’t support all of our needed revenue,” Allison said.
But there’s at least one bright spot on the horizon.
The facility’s new multi-purpose facility is expected to open early next year.
“It’s already fully paid for,” Allison said.
While other planned expansion projects are being put on hold because of the economic downturn, the new building isn’t one of them.
“The fair will be in that new building next year,” says Allison.
“It’s going to be a great opportunity to show what we can do,” he says.
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