Commissioner Fred Perry, 2009 Chair of the Tulsa County Public Facilities Authority and Expo Square Mark Andrus announced on March 4 the financial results of 2009 operations.
The 2009 financial statements show that Expo Square generated a $100,710 operating net income.
Commissioner Perry was pleased with the outcome. “Going into the year, we knew we were facing a down economy. So, we took steps to mitigate this as the year went on. The cost cutting and revenue raising steps paid off and now we’re coming off a profitable year with a leaner organization going forward.” said Perry.
At the beginning of 2009, Expo Square staff projected an operating loss of over $1.7 million for the year after a disappointing 2008 loss of $1.2 million.
Mark Andrus pointed out that making a profit wasn’t easy, “Many steps were taken to improve the outcome including reducing expenses by more than $1 million, reducing the number of full-time employees, and bringing in new events. Our staff worked very hard to make Expo Square profitable this year which happened even with poor weather during the fair.”
“We maintained a great working relationship with Commissioner Perry, who helped identify business approaches to cut costs and increase revenues. We made some tough decisions like reducing staff, and it was encouraging to have Commissioner Perry there working alongside us.”
Through its hundreds of events, Expo Square has an economic impact of more than $145 million each year on the Tulsa Metropolitan area.