Success continues for the Benton Event Center

The Benton A&P Commission recently presented an update on the success of the Benton Event Center to the city council.

Commissioner Bill Eldridge spoke to the council just prior to the July meeting.

“The event center opened Oct. 1, 2013, and we are happy to report that in 2019 we have had over 500,000 visits to the event center,” Eldridge said. “That continues to grow. Every month and every week we have a lot of bookings.”

The center has been home to 1,376 events since its opening, including activities such as banquets, fundraisers, expos, sporting events, cultural events and public events.

“A lot of the people who have rented the center have rented three-plus years,” Eldridge said. “We have a lot of return business.”

Eldridge said the venue is ideally located in central Arkansas and that contributes to groups like hospitals and other businesses to book the center. He also cited excellent marketing by the Benton Chamber of Commerce as another success factor.

The center has had new

carpet installed, along with an upgrade to the service corridor and a new interior paint job. Eldridge said the upkeep is essential to making sure the center continues to stay in good shape and to attract patrons.

“From August 2019 to July 2020, 72 percent of all the dates are already booked a year in advance,” Eldridge said. “We only have four weekends available in the next year. To me, that shows a good business model.”

Eldridge also spoke about the bond debt related to the center.

“In the last three years, we have paid early bond reduction of $2.4 million of that,” Eldridge said. “That has saved the tax payers and the citizens of Benton $895,000 in interest expense. The bonds were scheduled to be paid off in 2027. With our early reductions that has been moved from 2027 to 2023.”

Eldridge said plans are already underway for a sizable early bond payment in February that will reduce the debt even more and “save the citizens a tremendous amount of interest expense”.

As a loan officer, Eldridge said that often counsels people to pay early and to pay extra when they can.

“This is a great example of saving money for the citizens in getting rid of that debt,” Eldridge said.