Executive Summary

The Forrestal Museum's financial projections compare very favorably with three other existing carrier museums located in New York City, Charleston, South Carolina, and Corpus Christi, Texas.  The numbers translate into major economic stimulus for the Baltimore area.  Conservative projections indicate the financial benefits from direct and indirect spending by visitors who come to Baltimore to be $13 to $16 million in new revenues and approximately sixty-five new jobs.  When added to the ship's popularity with the area's residents, the prospects are bright that the Forrestal Museum will be a financial success.

The pre-opening costs (ship towing, siting, modifications to the ship and site, and exhibits) will be funded by a professional nation wide fund raising campaign.  The Forrestal Museum commissioned the sale of commemorative medallions minted by the Franklin Mint and marketed through various media and veteran's publications to offset their preliminary administrative costs.  The museum is also soliciting donations from both corporate and private interests.  Other financial sources will be applications for grants and other private foundation funds that are widely available for such projects.  Once opened, revenues from admissions fees, gift shop sales of memorabilia, and other fees for special events will offset the museum's operating cost.

The museum's funding approach is designed to address the unique aspects of this project - A 1.5 Billion-Dollar asset being acquired for approximately $15 million capital cost.  A phenomenal 100-to-1 value-to-cost ratio.  The $15 million capital investment will cover clean-up, towing, siting, carrier renovation, aircraft exhibit acquisitions, site development, and opening expenses.  In return, this investment will yield significant annual tax revenues as well as new jobs and dollars for local merchants and businesses. 
FORRESTAL will be a crown jewel to Maryland area's maritime heritage.

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