Lessons that can fuel Memphis’ aquarium success
So, I wrote this column about how an aquarium makes sense for Memphis.
I wrote about how an aquarium themed around the Mississippi River, with an ecosystem steeped in legend and in beauty, not only can attract scores of tourists, but could get local youths interested in science from seeing the aquatic life around them up close.
But to avoid pitfalls that could sabotage that vision, the city must line up investors and philanthropists to pay to refresh themes and exhibits once the initial fascination wears off, and the tourists dwindle. If not, Memphis could wind up with a mistake on the Mississippi.
And that’s something it doesn’t need.
Ursula Madden, spokeswoman for Mayor Jim Strickland, said the city intends to seek investors now that it has been cleared to use $100 million in state sales taxes to build the aquarium at Mud Island.
That’s important because philanthropy has bolstered the success of the Georgia Aquarium in Atlanta, and the Monterey Bay Aquarium in Monterey, Calif., said Joe Cortright, who heads City Observatory, a Portlandbased urban think tank funded by the Knight Foundation.
“They are the marquee success stories,” Cortright said, “but that’s largely because they had some philanthropists behind them who were willing to write some big checks. … The aquarium in Monterey had HewlettPackard behind it, and the Georgia Aquarium had Home Depot behind it.”
But, Cortland said, many aquariums are struggling to meet attendance projections — and some wind up being heavily subsidized by the public to remain open. That is occurring, he said, because once the novelty of an aquarium wears off, attendance drops off.
To prevent that, an aquarium must have money to replenish exhibits and attractions — and that takes wealthy donors, he said.
“These facilities get on a treadmill because of the honeymoon period, but you see the crowds fall off in the coming years,” Cortland said. “With aquariums, you have to keep coming up with new features … otherwise, it’s been there done that. You can’t just build it and leave it alone.”
No doubt, the approval of the sales tax money has given Memphis a solid start on a successful aquarium project. Memphis also has a solid track record of philanthropists and private donors stepping up to underwrite public projects.
Donors, including the Hyde Family Foundations, FedEx Corp. and AutoZone raised $70 million, for example, for the 2016 renovation of Shelby Farms Park. Private donors also kicked in $4 million to renovate The Levitt Shell at Overton Park in 2016, and a $5 million private grant was used two years ago to revitalize the Fourth Bluff to connect the riverfront to downtown.
Still, it would be unwise to ignore all the aquarium cautionary tales that abound — because the one thing Memphis doesn’t need is an attraction that is sparsely attended being held together with public money that could be used for something else.
The something else could be a venture that could produce jobs for Memphians who live in and near the downtown area. With this city being the poorest large metro area in the nation, any project that relies on public money should contribute something to poverty alleviation — whether that contribution is through jobs or education — or both.
Again, an aquarium in downtown Memphis makes sense. But to make it work, it must get donors lined up to support the aquarium not just in its initial stages, but as it evolves. Because, for it to be successful, all the pieces must be in place.
Pieces both public and private.