Forum editorial: Fargodome enhances its success
The long-term success of the Fargodome confirms that the initial management and financial model was prescient. From the day the doors opened, the dome has operated in the black because of a forward-thinking structure composed of sales tax and eve...
The long-term success of the Fargodome confirms that the initial management and financial model was prescient. From the day the doors opened, the dome has operated in the black because of a forward-thinking structure composed of sales tax and event revenues and focused managers who are responsible to an oversight Dome Authority, which in turn answers to the elected Fargo City Commission.
That structure of finance, management and accountability has been flexible enough to adjust to an ever-changing event picture and the ups and downs of the economy. The result has been an entertainment/
trade show/sports venue that has defied the odds for such facilities. Most of them operate in the red.
The latest numbers from the dome show not only an expected surplus for 2010 operations but a surplus well over the projected amount. It marks the 18th consecutive year the dome has run an operating surplus.
Moreover, attendance set a record, attesting to management's ability to book events that sell tickets and bring people to Fargo. In addition to the major money-making attractions, the dome was busy nearly every week last year with smaller events, like focused trade shows and high school sports. All contributed to a healthy bottom line.
Last year's profits go into the dome's surplus budget, which is used for capital improvements and building upgrades. The history of the building shows investments in those areas have kept the building up to date and even ahead of newer arenas in other places. Early on, the dome established itself as the premier multipurpose arena in the region. In ensuing years, it has only enhanced that reputation.
Forum editorials represent the opinion of Forum management and the newspaper's Editorial Board.