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Article: Par for the course. (raising revenue through golf courses)
- Article from:
- Public Management
- Article date:
- June 1, 1993
- Author:
CopyrightCOPYRIGHT 1993 International City-County Management Association. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The nation's golf course industry currently is experiencing tremendous growth to keep pace with the public's seemingly endless fascination with the game. In fact, the National Golf Foundation claims that a golf course should be developed each day until the year 2000 to meet rising consumer demand.
Weighing the Risks
Make no mistake. The golf course business can be expensive. Most golf facilities cost from $3 to $6 million to develop, with higher quality courses costing upwards of $10 million. Debt service alone on investments of that size can create cash flow problems for many local governments. Courses also are labor intensive and can require a ...