The “largest” hot springs and spa venue in North America, Passport Springs & Spa, Tuesday released its economic output projections for South Forsyth County. Planning, engineering and environmental consulting firm GAI Consultants conducted the research for the study.
Slated to break ground in fall 2022, Passport Springs is expected to create over 466 jobs and exceed $551.7 million in economic impact over a 10-year period.
“We are committed to being valuable members of the community and supporting local businesses and organizations as we build this unprecedented, immersive experience,” Jacob Bloch, CEO of parent company Passport Experiences, said in a press release. “The long-term success of Passport Springs & Spa is intrinsically linked to Forsyth County’s prosperity and position as one of the fastest growing and most affluent counties in Georgia. The venue will not only service the local community, but also drive revenue and tourism for the entire region for years to come.”
During operation, Passport Springs is estimated to produce $47.7 million per year in economic impact, and a one-time economic impact of $51.3 million from construction. Set on 10 acres adjacent to The Collection, the Passport Experiences team has already begun developing relationships with local businesses and hotels including the Home2Suites Hilton and Fairfield Inn & Suites. Passport is expected to generate $11.1 million in annual economic impact for lodging.
“We will bring guests from all over the world to Passport Springs,” Bloch said. “Our visitors will need somewhere to stay and will likely explore the surrounding area to shop and dine at local retailers and restaurants. We not only expect Passport to succeed, but to also turbocharge our neighbors.”
The Passport Experiences team continues to work closely with local and state-level partners including Forward Forsyth, Discover FoCo, and Explore Georgia, which “share Passport Experiences’ vision in making Forsyth County a destination,” according to the release.
“Jacob and his Passport Springs team have already made a large impact by reaching out for partnership opportunities with local businesses and organizations in Forsyth,” Slade Gulledge, Vice President of Economic Development for Forward Forsyth, said. “This is the hallmark of how successful businesses get established and thrive. The interest in this project is very high; Jacob and his team are already fielding calls for bookings prior to any dirt being turned. The projections within their economic impact analysis on Passport Springs are extremely impressive. Not only are we thrilled to welcome this first-of-its-kind attraction to Forsyth but are also pleased to have a great team and community partner in Passport Springs.”
The economic impact analysis was prepared using the application of an IMPLAN model, a recognized and commercially available software application. Similar to other economic modeling systems, IMPLAN calculates the initial and subsequent economic effects of a specific stimulus, such as employment in a specific industry or investment in the construction of new facilities, or the operational expenditures from a firm or industry. According to GAI’s analysis, Passport Springs has potential to generate significant positive economic impacts to the Metro Atlanta area, well above the average contributed by other existing properties and projects of its class.