PANAMA CITY BEACH — Summer was hot in Panama City Beach, in more ways than one.
At a meeting Tuesday, the Bay County Tourist Development Council (TDC) reported record-breaking visitation this summer, with July marking the biggest revenue month of all time for the agency.
July saw $3.46 million in tourist development tax collections, or bed tax collections, for the TDC, a 10 percent increase over the previous year.
“July is the peak of the travel season in Panama City Beach and being up 10 percent in July is a huge number,” said TDC Director Dan Rowe. “The Fourth of July weekend was just massive and that trend continued for the whole month.”
Year to date bed tax collections are up about 6 percent, which Rowe said increases the TDC’s capabilities to market the beach and further increase tourism.
With collections continuing to rise, the TDC has more money to work with as it looks toward its budget for the upcoming fiscal year. At Tuesday’s meeting, the board approved a $14.3 million revenue budget for the Panama City Beach Convention and Visitors Bureau (CVB) for 2015, a higher number than was originally budgeted last year.
For 2014, the TDC outlined a budget of $13.5 million, but amended it to $15.4 million to account for excess bed tax collections and cash carried forward from the last fiscal year. The $12 million budget for 2013 was also amended to $15 million.
“It shows that revenues are continuing to increase and visitor spending is up as it relates to the tourist development tax,” Rowe said. “The tourism industry is continuing to grow in Panama City Beach and we’re looking forward to a very strong 2015.”
This year the agency also is exploring additional revenue sources, including corporate sponsorships for events. The goal is to bring in $250,000 from sponsorships in the coming year.
The TDC will review the expense budget for the CVB, a marketing organization that works under the direction of TDC and Bay County Commission, at a special meeting Sept. 18.
During Tuesday’s meeting, Rowe also brought forth a list of projects pulled from the TDC’s strategic plan that could qualify for funding from Bay County’s portion of the RESTORE Act, legislation that will send a portion of the administrative and civil penalties from the 2010 Deepwater Horizon oil spill directly to the affected states.
Last week, the County Commission approved a draft RESTORE Act multi-year implementation plan, which will soon open the door for a process to submit project ideas for review. About $6 million will be headed to Bay County in the coming year, a portion of the $1 billion settlement with Transocean.
“Those monies are starting to flow and we have to be prepared,” Rowe said. “I think it’s appropriate for the TDC, every time there’s a funding opportunity, to make sure that we have a legitimate project there. Whether they get funded or not, it’s important for the county and the RESTORE Committee to know the importance of tourism to our local community.”
At the top of the TDC’s list is a project to develop additional fields for amateur athletics in Panama City Beach, including baseball, softball, soccer and lacrosse.
Bay County RESTORE Committee Chairman Jack Bishop said he believed the TDC would have a good stake in the game because of its income capabilities, and recommended the agency offer to match any requests for project funding in the future.
“This $6 million is only the beginning of a long, long process,” Bishop said. “I think it’s an opportunity for Bay County to actually take advantage of some real vision.”
Summer tourist development tax collections
2013-2014 2012-2013 Percent change
May $1.6 million $1.5 million 8.1 percent
June $3.2 million $3 million 7.3 percent
July $3.5 million $3.1 million 10.2 percent