2019 Comprehensive Annual Financial Report (CAFR)

ACC Hall of Champions strengthens the bond between Greensboro and the ACC enhancing Greensboro’s efforts to secure future tournament dates.

Greensboro Aquatic Center , a state-of-the-art, 78,323 square-foot indoor swimming facility, with seating capacity of 1,850 and total capacity of 2,500 has been in operation since September 2011. Featuring leading edge concepts in aquatic design, the GAC brings together all major aquatic sports - competitive swimming and diving, water polo, synchronized swimming and other unique sports all in one venue. The GAC has provided Greensboro the opportunity to host high school and collegiate events, USA swimming meets, Master’s swimming and U.S. Water Polo events as well as many local, regional, national and international competitions. The GAC has previously hosted NCAA Swimming & Diving

Championships in 2015 (Division I Women’s) and 2016 (Division III Women’s & Men’s). The GAC was also previously awarded the 2018 NCAA Division II Women’s & Men’s Championships and thus will now host NCAA Championships for five consecutive years (2018-2022). With this increase in demand, the GAC has completed a fourth pool that provides 19 additional short course lanes and 8 long course lanes. The facility has had an estimated economic impact of over $150 million since it opened in 2011. Greensboro was selected from among thirty-two applications to host the annual National Folk Festival from 2015 to 2017. The free, three-day outdoor event attracted roughly 400,000 visitors over its three year run, generating an economic impact between $12 to $15 million per year, based on audience surveys and other data. The 2017 event drew more than 162,000 attendees, an increase of 58% from 2015. The legacy festival included over 30 acts of music, dance, and other events at seven locations across downtown Greensboro. The event also utilized the LeBauer Park as one of eight venues across downtown Greensboro, located across from the Steven Tanger Center for the Performing Arts currently under construction. With the success of the national festival, the City has continued the event as a state-wide, admission free festival, funded by sponsorships, donations and fees paid by participating vendors. The City celebrated with the three-day North Carolina Folk Festival in 2018, 2019 and will hold the festival again in 2020. Among the vendors sponsoring the festival are local craft brewers, an industry that continues to expand locally. Over the past several years a number of new Greensboro breweries have opened, including Gibb’s Hundred, Preyer, Pig Pounder, Joymongers, Leveneleven and Little Brother Brewing. They join long-established Greensboro brewers, Red Oak, the second oldest N.C. brewer, founded in 1991, and Natty Greene’s, located in the heart of downtown, named after Greensboro’s namesake Nathanael Greene, founded in 2004. In June 2019, Natty Greene’s opened a second location with a production brewery. World of Beer, a network of taverns known for offering more than 500 bottles of brew from around the world, opened a Greensboro location in late 2015. The restaurant occupies a 4,800 square-foot space within the 9,000 square-foot expansion of Westover Gallery of Shops. The eastern entrance to the City showcases the newest addition to Greensboro’s collection of beautiful parks and gardens, Gateway Gardens , another public/private venture. Phase I of the $8 million project has been completed and includes the main entrance and a 5,100 square-foot Visitor’s Center along with rain garden, pond, children’s garden and heritage garden with unique public artwork displayed throughout the park. Phase II will include a Japanese garden, wedding and special event garden and white oak forest. This project is funded with $2.5 million in City bond funds, $2 million in private contributions and a $500,000 grant. In 2017 and 2018, the City of Greensboro ranked in the top 10 by the annual Digital Cities Survey for cities with a population of 250,000 to 500,000. The survey recognizes cities that use technology to improve services XIV