Does the Convention Center and Hotel have a negative impact on the Village’s general services paid for from the General fund?
No. The hotel and convention center get no financial support from the Village’s General fund. The convention center and hotel are not competing for General fund revenue. The convention center and hotel’s financing was designed to be paid for by revenues from its operations and a portion of the hotel tax, amusement tax and telecommunications tax. Most of these taxes are paid by users of the hotel or visitors to Schaumburg. In return the convention center and hotel generate at least $43 million per year of economic activity for the local economy and much more when the multiplier effect of this activity is considered.
