Chattanooga's Tennessee Aquarium, dealt a blow by the coronavirus, is facing a major deficit and years to dig out from the current fiscal crisis.
Spokesman Thom Benson said, "We have done everything to reduce costs, but due to the ongoing nature of this crisis we anticipate ending the year with a deficit of between $6.5 million to $7 million. Therefore it will take the Aquarium years to recover from the extended closure and sharp decline in tourism.
"These last five months have been difficult for everyone, but our team has done a remarkable job adjusting operations to focus on health and safety while providing a relaxing experience for our guests.
And, while the summer season has not been normal for anyone, it is gratifying to see people enjoying themselves at the Aquarium once again.
"Our capacity limits are set low enough to allow our guests to maintain physical distancing within our buildings and our IMAX Theater. As you might expect, limiting attendance while enduring the headwinds caused by the pandemic have caused serious financial hardships for non-profit organizations like the Tennessee Aquarium.
"When compared to 2019, attendance at the Aquarium is down more than 60 percent. And attendance at IMAX is down nearly 80 percent when compared to 2019. To some degree, the losses at IMAX have been exacerbated by the longer closure period. The Aquarium and IMAX closed on Saturday, March 14. The Aquarium reopened to the public on June 18 and the IMAX on July 17.
"In a normal year, if we attract 745,000 visitors to Chattanooga, we return an overall economic benefit to the community of $115 million. Our annual economic impact also supports nearly 1,300 additional jobs through our operating and capital expenditures, along with the spending of out-of-town visitors.
"That's why we have been saying that the Tennessee Aquarium's success, and the city's success goes hand-in-hand. The broad community support the Aquarium has enjoyed over the years has helped create this "rising tide that lifts all boats." And now we need additional support from the community.
"People can help the Aquarium in a couple of ways right now:
- Visit the Aquarium and IMAX 3D Theater. Admissions helps cover our operations. Becoming Tennessee Aquarium members also goes toward the cost of operations.
- Contribute online. Gifts to the Tennessee Aquarium help us expand conservation and education programs. Philanthropic and corporate gifts help us design and build new experiences to keep visitors coming to Chattanooga.
- We have a small online auction active now for our upcoming virtual Sharkfest event.
- Our annual fundraising event: Serve & Protect will be Oct. 1. Purchasing tickets to the virtual, live cooking show helps support the Aquarium's mission. We will have a larger online auction as part of this event."