MOUNT PLEASANT, S.C. (WCIV) -- A three-year business plan unveiled Thursday aims to increase revenue and ticket sales at Patriots Point.
The Patriots Point Development Authority announced the plan, saying it will allow for the restoration of ships, the development of new exhibits and programs and the repayment of debt obligations.
Among the items included in the three-year plan:
- Increase tickets sales to 260,000 tickets per year
- Increase camping registrations to 24,000 per year
- Increase student enrollment in education to 20,000 per year
- Increase the number of event rentals to 350 per year
- Increase monetary gifts to support Patriots Point museums to $500,000 per year
- Increase property lease revenue to nearly $2 million per year
"Our three-year business plan sets forth a goal to generate $11.7 million annually in revenue by fiscal year 2016, up from current revenues of $9.7 million," Patriots Point Executive Director Mac Burdette sad in a prepared statement. "This plan is critical to guiding decisions that will affect the income production and, ultimately, our ability to achieve our missions well into the future."
The business plan includes a coordinated effort to market and advertise events and offerings at Patriots Point.
The site does not receive funding from the state or the federal government. Development authority officials said the current annual budget of $9.7 million adequately covers day-to-day operations, some capital improvements, 10 percent of deferred maintenance cost for vessel restoration and funding for "the expansion of income-producing programs."
"The three-year business plan will allow us to remain focused on growing our future and meeting our mission, while remaining a profitable state agency," Burdette said.
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