Business Ideas Development for the Cliff Castle Corridor of the - Nation: A Discrete Choice Experiment and Demographic Data Table of Content

Executive Summary...... p. 1

Introduction...... p. 2

2009 Study Comparisons...... p. 3 – 5

Methods...... p. 6 – 7

Results...... p. 8 – 13 Demographics...... p. 8 – 9 Choice Experience...... p. 10 – 13

Business Ideas Development for the Cliff Castle Corridor of the Yavapai-Apache Nation: A Discrete Choice Experiment and Demographic Data Acknowledgments The Alliance Bank Economic Policy Institute would like to thank the Yavapai-Apache Nation Chairwoman, Honorable Jane Russell-Winiecki, and the tribal council (Mr. Lawrence Jackson, Sr., Mr. David Kwail, Ms. Rachel Hood, Mr. Jaime Valles, Mr. Billy Garner, Ms. Annette Mendez, Ms. Siera Russell, and Ms. Cindy Nahee) for their involvement in approving the business development ideas given in the survey. The Alliance Bank Economic Policy Institute would also like to thank the Yavapai-Apache Nation tribal members who participated in the information gathering process of this project. Your thoughts and insights into the business development ideas were critical for the construction of a survey that reflected your values. We hope the findings of this report provide a basis to consider economic development opportunities within the Cliff Castle Corridor of the Yavapai-Apache Nation.

For the Alliance Bank Economic Policy Institute: »» Ryan Fitch, Ph.D., Research Associate »» Levi Esquerra, Director of the Center for American Indian Economic Development »» Thomas Combrink, M.S., Senior Research Specialist »» Wade Rousse, Ph.D., Interim Director

Photo courtesy of Don Decker and Cliff Castle Casino

Northern University Alliance Bank Economic Policy Institute | February 2018 i Executive Summary This report is a follow-up to the “Cliff when survey respondents were asked about their interest in Castle Corridor Master Development Native American culture. 81.5% of respondents expressed and Business Plan” July 2009. This an interest in Native American culture with the proportion report updates traveler information dropping slightly to 79% when asked about interest in from the 2009 report and estimates Southwest Native American culture. a willingness to pay for the business ideas put forth by Yavapai-Apache Choice experiment results show that the three most attractive tribal members and approved by the activities are hiking, visiting hot springs, and horseback Yavapai-Apache Nation Council. Seven riding. This group of activities was grouped together to choice questions were presented to run an asclogit to estimate willingness to pay for activities each survey respondent asking if the presented in the survey. Our model indicates the three least respondent would be willing to pay attractive activities are a microbrewery, visiting a botanical a given dollar amount to take part in garden, and visiting a cultural center. The coefficients on these or experience a set of activities. Each activities were not statistically different from 0. This result choice set had three alternatives. Two does not allow us to reject the hypothesis that the estimated choices had different activities and willingness to pay of each of these activities is 0. However, different dollar amounts. The third activities that were of interest and statistically significant choice was “none of the options” and included the Native American cooking class, Southwest Tribal had a payment amount of 0. art and shops, and stargazing with storytelling. The estimated willingness to pay for these activities were approximately 200 surveys were disseminated across $122, $101, and $88 respectively. the country to a target audience of millennial respondents, ages 18 – 36. There was a 50% / 50% split between male and female survey respondents. 39 states were represented within the survey. 31.5% of survey respondents reported previously visiting tribal lands. Of those 63 respondents that had visited tribal lands, approximately 65.1% had visited tribal lands in the Southwest US. Numbers increased p. 1 Business Ideas Development for the Cliff Castle Corridor of the Yavapai-Apache Nation: A Discrete Choice Experiment and Demographic Data Introduction The most recent statistics from the U.S. Department of the Interior, National Park Service, show approximately 400,000 visitors coming to Montezuma Castle in 2017. These visitors exit on the Middle Verde Road and pass one of Arizona’s top 10 casinos (AZcentral.com), Cliff Castle Casino Hotel, to reach Montezuma Castle. Apart from gaming, little else is offered to encourage visitor spending within the Yavapai-Apache Nation at this location. The Yavapai-Apache Nation envisions sustainable and economically feasible business development that will incorporate the ancestral landscape of the and Montezuma Castle National Monument. The business development needs to ensure benefits to tribal members of the Yavapai-Apache Nation. Building on the current infrastructure and investment on Middle Verde Road and Cliff Castle Casino, the Yavapai-Apache Nation is seeking information on business ideas that will meet their goals of sustainable development increasing benefits for their tribal members. Millennials (persons between the age of 18 and 36 for this study) are a growing force in economic expenditure and the Yavapai- Apache Nation recognizes the need to have businesses that appeal to this market. The traditional gaming industry is not as appealing to this demographic as it is to Baby Boomers. Given this trend, the Yavapai-Apache Nation wants to know what activities are more appealing to Millennials. This study aims to answer the question of which businesses and activities are most appealing to Millennials. The Alliance Bank Economic Policy Institute (henceforth “The Institute”) designed a discrete choice experiment and survey to address this question. In addition to testing business ideas and activities, the survey obtains demographic data that will also be useful for the Yavapai- Apache Nation to better understand the target market.

Northern Arizona University Alliance Bank Economic Policy Institute | February 2018 p. 2 2009 Study Comparisons The “Cliff Castle Corridor Master increased and is forecasted to continue direction AADT columns correspond Development and Business Plan” increasing into the future. Tables 1 to northbound traffic and the negative was released in July 2009 and since and 2 highlight the annual average direction AADT columns correspond to that time, visitor travel has changed. daily traffic (AADT) volume for the southbound traffic on the I-17. Travel along the I-17 corridor has 2015 calendar year. The positive

Source for Table 1 & 2: Arizona Department of Transportation Neg. Table 1: Pos. Dir. Route Start End Dir. AADT 2009 2009 annual AADT AADT average daily traffic I-17 Exit 278 SR 169 South / Cherry Rd Exit 285 General Crook Trl 13,000 13,500 26,500 volume I-17 Exit 285 General Crook Trl Exit 287 SR 260 - Camp 11,500 11,000 between 22,500 Verde / Cottonwood exit 278 and I-17 Exit 287 SR 260 - Camp Verde / Exit 289 Middle Verde Rd 13,000 13,000 exit 293 Cottonwood 25,500 on the I-17 I-17 Exit 289 Middle Verde Rd Exit 293 Cornville Rd - 12,000 11,500 corridor. 23,000 McGuireville I-17 Exit 293 Cornville Rd - McGuireville Exit 298 SR 179 North 20,000

Route Start End Pos. Dir. AADT Neg. Dir. AADT AADT 2016 Future AADT Table 2: 2016 annual I-17 Exit 278 SR 169 South Exit 285 General 15,942 17,095 33,039 40,000 average / Cherry Rd Crook Trl daily traffic I-17 Exit 285 General Crook Exit 287 SR 260 13,366 12,491 26,732 36,95 volume Trl - Camp Verde / between Cottonwood exit 278 and I-17 Exit 287 SR 260 Exit 289 Middle 13,166 15,046 28,212 41,745 exit 293 - Camp Verde / Verde Rd on the I-17 Cottonwood corridor. I-17 Exit 289 Middle Verde Exit 293 Cornville 6,663 13,428 25,505 37,739 Rd Rd - McGuireville I-17 Exit 293 Cornville Rd - Exit 298 SR 179 13,257 13,285 26,543 29,500 McGuireville North p. 3 Business Ideas Development for the Cliff Castle Corridor of the Yavapai-Apache Nation: A Discrete Choice Experiment and Demographic Data Annual average daily traffic flow Table 3 highlights an increase in visitor Castle has decreased over this period estimates have increased between activities for the North Central region by approximately 33%. Table 4 shows 2009 and 2016 for all sections of the except “Beach/Waterfront”. The analysis visitors per year to Montezuma Castle. I-17 corridor around the town of Camp of this report specifically addresses Over the past four years, visitation to Verde. Between the Camp Verde / visitors’ willingness to pay for activities Montezuma Castle has remained at Cottonwood exit and the Middle Verde that include hiking and culture. These approximately 400,000 visitors per year. Rd. exit, annual average daily traffic flow activities increased in participation Given the difference between trends in estimates increased by approximately rates by 44% and 150% respectively the region and specific park visitation, it 2,700 vehicles between 2009 and 2016. for the North Central region from would be in the Yavapai-Apache Nation’s Between the Middle Verde Rd. exit and 2007 – 2016. While the “National & interest to obtain more site specific the Cornville Rd. / McGuireville exit, State parks” activity has increased data for visitor activities that might be average daily traffic flow estimates by 81% in the North Central region considered for business development increased by approximately 2,500 since 2007, visitation to Montezuma ideas. vehicles between 2009 and 2016.

Table 3: Visitor activity participation by region from 2003 – 2016.

Northern Arizona North Central Arizona Visitor Activity Change Change 2003 2005 2007 2016 07-16 2003 2005 2007 2016 07-16

National & State parks 39% 36% 29% 29% 0% 19% 16% 16% 29% 81%

Hike & Bike 16% 12% 16% 25% 56% 15% 11% 16% 23% 44%

Nature/Culture 8% 6% 8% 24% 200% 19% 3% 10% 25% 150%

Camping 7% 4% 4% 14% 250% 5% 2% 6% 12% 100%

Beach/Waterfront 1% 1% 0% 0% 0% 1% 0% 1% 0% 0%

Source: AOT Longwoods Regional Data

Northern Arizona University Alliance Bank Economic Policy Institute | February 2018 p. 4 Year Number of Visitors Table 4: Visitor count data per year for 2003 637,024 Montezuma Castle 2004 644,452 from 2003 – 2017. 2005 622,320

2006 597,762 Source: U.S. Department of 2007 597,611 the Interior, National Park Service (https://irma.nps.gov/ 2008 603,755 Stats/Reports/Park/MOCA) 2009 601,465 2010 578,554 2011 573,731 2012 455,305 2013 389,091 2014 407,017 2015 416,635 2016 392,168 2017 398,174

Millennials are currently the largest population group within the and their preferences and expenditure patterns differ from other demographic groups (Bokunewicz 2016). Traditional gambling is of less importance to millennials than older age demographics. Understanding millennials’ preferences for activities outside of gambling is essential for promoting economic growth within the Yavapai-Apache Nation. Other than Cliff Castle Casino and Montezuma’s Castle, there are few other opportunities to attract visitor expenditure within the Yavapai-Apache Nation. Identifying activities that appeal to the largest segment of the U.S. population is the focus of the remainder of the report.

p. 5 Business Ideas Development for the Cliff Castle Corridor of the Yavapai-Apache Nation: A Discrete Choice Experiment and Demographic Data Methods Visit a Contemporary Botanical Garden The Institute conducted an initial Visitors would experience a Botanical Garden of the meeting with Yavapai-Apache tribal Southwest United States. In addition to the typical placards members to gather information on stating common and Latin names of plants, information on the economic business ideas that were plants’ significance to the Tribe would be highlighted. important to them. Tribal members generated a list of approximately 20 Visit a Southwest Tribal Art Gallery and Retail Shops unique business ideas. This list of The facility would provide visitors the opportunity to interact business ideas was presented to the with local tribal artists. Arts and crafts would be on display and Yavapai-Apache tribal council. During for sale in the gallery. The gallery would include but not limited this meeting, the list was reduced to to metalwork, woodwork, jewelry, pottery, baskets, paintings, 10 business ideas that were accepted and photography. for inclusion in the survey. The business idea attributes presented and described Stargazing and Storytelling in the survey were: Visitors would be taken to a low light viewing location for optimal stargazing. Culturally important constellations and Visit a Cultural Center celestial bodies would be pointed out to visitors by tribal This facility would be focused around members. Creation stories pertaining to the Tribe would be a museum and an amphitheater. The told while viewing the celestial bodies. museum would include interactive opportunities to learn more about the Attend a Southwest Native American Cooking Class history and progression of the Tribe to The cooking class would provide visitors the opportunity modern times. This includes interaction to learn how to prepare cuisine specific to the Tribe of the with other Tribal Communities within Southwest. After the class visitors would enjoy their creations. the area. Virtual reality would be used to bring the participant to different, Visit a Southwest Native American Restaurant historically significant times of the This restaurant would offer cuisine from Southwest Native Federally Recognized Indian Tribe. American culture with a focus on foods specific to the Tribe. Artifacts and culturally significant items The dinning atmosphere would be casual. would be on display within the facility. The amphitheater would be used to put Wine Tasting on shows (e.g. music and dance) for This establishment would offer wine tastings and the visitors to experience. opportunity to purchase locally made wines.

Northern Arizona University Alliance Bank Economic Policy Institute | February 2018 p. 6 Visit Micro Brewery Southwest Native American tribal land This establishment would offer a place to drink in house or in the past, if the respondent had any purchase take home craft beer produced throughout the region. interest in Native American culture, and if the respondent was a member of a Guided Hiking Tour Federally Recognized Indian Tribe in the Visitors would have the opportunity to take guided hikes on United States. The choice experiment trails significant to the Tribe. This would include descriptions section of the survey comprised of of the significance of the trail with the opportunity to asking respondents seven choice sets. see pictographs and other culturally significant natural The choice sets were optimized using landmarks. The length of time out hiking would be the Fedorov algorithm. In total, 75 approximately five hours. unique choice sets were created from this optimization process. Guided Horseback Riding Tour Respondents were asked to select one Visitors would have the opportunity to take guided horseback of three options from each choice set. rides on trails significant to the Tribe. This would include Two of the options presented in each descriptions of the significance of the trail with the opportunity choice set gave some combination of to see pictographs and other culturally significant natural the business development attributes landmarks. The length of time out on horseback would be along with a corresponding price for approximately two hours. the set of attributes. The third option was “none of the options” and had a Guided Hot Springs Tour payment amount of 0. Visitors would have the opportunity to take a guided tour and soak in the hot springs locations to the Tribe. This would STATA 15 was used to analyze the include tribal descriptions of why the given hot spring is survey results. The clogit procedure significant and what the hot spring does for individual health. (a conditional logit model) was used The length of time out visiting the hot springs would be to generate attribute coefficients for approximately two hours. relative importance. A 95% confidence interval was used to determine The survey was disseminated by Qualtrics® to 200 millennial statistical significance of business respondents (age 18 – 36) across the United States. A 50% / development attributes. 50% gender split was requested by The Center. Demographic information on each respondent was collected. This information included location, level of schooling, employment status, income, race, if the respondent had visited Native American tribal land in the past, if the respondent had visited p. 7 Business Ideas Development for the Cliff Castle Corridor of the Yavapai-Apache Nation: A Discrete Choice Experiment and Demographic Data Results Of these 63 survey respondents who American Culture. Approximately 82% answered “Yes” to the question, “Have of survey respondents stated they Demographics you ever visited or recreated on any Tribal have an interest in Native American 35% of survey respondents were Lands?”, Figure 2 shows the number Culture. When the focus of the located in Florida, California, Illinois, of those respondents who have visited question is narrowed to Southwest New York, or Texas. In total, 39 states or recreated on Tribal Lands within the Native American Culture, the percent were represented in the survey. 9% Southwest United States. Approximately of survey respondents expressing an of survey respondents identified as 65% of survey respondents who have interest decreases slightly to 79%. a member of a Federally Recognized visited Tribal Lands have done so within Figure 3 gives the numbers of survey Indian Tribe in the United States of the Southwest. respondents who have an interest in Southwest Native American culture. America. Figure 1 shows the number While more than half of survey of survey respondents who stated they respondents have not visited Tribal Household income is a key indicator in have previously visited or recreated on Lands within the United States, a vast determining discretionary income for any Tribal Lands. majority express interest in Native expenses such as travel and leisure.

Figure 3: Do you have any interest in Figure 1: Have you visited any tribal land? Figure 2: Have you visited or recreated on tribal lands in the southwest US? southwest native american culture? 137 140 158 160 120 41 140 40 140 120 100 80 30 63 22 80 60 20 60 42 40 40 10 20 20 0 0 0 Ye s No Ye s No Ye s No

Northern Arizona University Alliance Bank Economic Policy Institute | February 2018 p. 8 Our survey respondents had a median income bracket of $25,000 - $49,999. In addition to being the median income bracket, the $25,000 - $49,999 income bracket also had the most survey respondents. 29% of survey respondents were in the $25,000 - $49,999 household income bracket. The other most common income brackets for survey respondents was less than $25,000 and $50,000 - $74,999. Figure 4 shows the distribution of household income across all income brackets.

Figure 4: Household Income

60 58 50 50

40

23 20 11 8

0 $25,000 - $50,000 - $75,000 - $100,000 - <$25,000 $49,999 $74,999 $99,999 $124,999 >$125,000 © Don Decker

p. 9 Business Ideas Development for the Cliff Castle Corridor of the Yavapai-Apache Nation: A Discrete Choice Experiment and Demographic Data attributes have been listed in rank order estimated coefficients). These results Choice Experiment within the table. Hence, hiking had support millennial tourism studies The conditional logit model produced the greatest value to Millennials while that show millennials placing a higher results showing each business visiting cultural center held the least value on activities or experiences than development attribute to be significant amount of vale. purchasing items. at the 95% confidence interval. All coefficients on the attributes were Results indicate that the business From the clogit results, “outdoor positive, showing that potential idea attributes with an “outdoor activities” were grouped together consumers had a positive willingness activity” tended to be more desired by (hiking, hot springs, and horseback to pay. Also as expected, price had a millennial survey respondents (highest riding) and the model was rerun as an negative coefficient. This should be significant estimated coefficients). asclogit. Table 2 shows the results from interpreted as increases in price lead Hiking, hot springs, and horseback this model. The business attributes to decreases in the quantity of the riding were the top three choices of of “Botanical Garden” and “Cultural attributes presented. Table 1 shows the activities. Survey respondents were Center” are not significant at the 95% statistical results from the conditional less interested in the botanical garden confidence interval under the asclogit. logit model. In addition, business and cultural center (lowest significant Willingness to pay was estimated for

score Coef. Std. Err. z P>z [95% Conf.Interval] Hike 1.2704 0.1225 10.3700 0.0000 1.0304 1.5104 Table 5: Estimated coefficient, standard Hot Springs 1.1710 0.1188 9.8600 0.0000 0.9382 1.4038 error, z score, z Horseback Riding 0.9035 0.1239 7.2900 0.0000 0.6607 1.1463 score distribution, Cooking Class 0.8921 0.0892 10.0000 0.0000 0.7173 1.0669 and confidence Stargazing 0.8165 0.0861 9.4800 0.0000 0.6478 0.9852 interval at the Retail 0.7821 0.1058 7.3900 0.0000 0.5747 0.9896 95% level of the conditional logit Wine 0.6961 0.0887 7.8500 0.0000 0.5222 0.8700 model on business Restaurant 0.6311 0.0863 7.3100 0.0000 0.4618 0.8003 development Microbrew 0.5749 0.0869 6.6200 0.0000 0.4047 0.7452 attributes. Botanical Garden 0.5191 0.0875 5.9300 0.0000 0.3476 0.6905 Cultural Center 0.4643 0.0864 5.3700 0.0000 0.2949 0.6337 Price -0.0044 0.0003 -13.2800 0.0000 -0.0050 -0.0037 ASC 22.6448 452.9057 0.0500 0.9600 -865.0342 910.3237

Northern Arizona University Alliance Bank Economic Policy Institute | February 2018 p. 10 these attributes; however, the estimate “Microbrew” attribute not being “Outdoor”, and “Wine” round out the is not statistically different from 0. significant at the 95% confidence top five estimated willingness to pay The newly classified group “Outdoor” interval. Again, the asclogit was rerun for business development ideas at $88, represents hiking, hot springs, and with “Botanical Garden”, “Cultural $77, and $76 respectively. horseback riding. The willingness to pay Center”, and “Microbrew” omitted The survey and the analysis of this report represents the overall willingness to pay from the model. The final results of the did not address existing infrastructure for any one of these activities. asclogit are presented in table 4. in the form of the casino and hotel Given the results from table 2, the In table 4, all independent variables are accommodations. It would be in the business attributes “Botanical Garden” significant in predicting if a given choice Yavapai-Apache Nation’s interest to and “Cultural Center” were dropped set will be selected. “Cooking Class” determine how the existing infrastructure from the analysis and the model was ended up having the highest estimated and revenue flows from Cliff Castle rerun. Results from the altered model willingness to pay at $122. Results Casino can be leveraged to support any are presented in table 3 from the discrete choice experiment of the proposed business development also indicate that the estimated ideas presented in this report. Dropping “Botanical Garden” willingness to pay for “Retail” and “Cultural Center” led to the expenditures is $101. “Stargazing”,

score Coef. Std. Err. z P>z [95% Conf.Interval] WTP Table 6: Estimated Alternative coefficients, standard Outdoor 0.333291 0.097326 3.42 0.001 0.142535 0.524048 85.80694 error, z score, z score distribution, confidence Cooking class 0.468581 0.083343 5.62 0 0.305232 0.631929 120.6376 interval at the 95% Wine 0.297646 0.083193 3.58 0 0.134591 0.4607 76.62983 level and the estimated Microbrew 0.168092 0.082823 2.03 0.042 0.005762 0.330421 43.27571 willingness to pay of Restaurant 0.275428 0.08174 3.37 0.001 0.115221 0.435635 70.90984 the alternative specific Stargazing 0.351083 0.082435 4.26 0 0.189513 0.512654 90.38757 constant conditional logit model (asclogit) for Retail 0.400964 0.094801 4.23 0 0.215157 0.58677 103.2294 business development Botanical Garden 0.150771 0.081642 1.85 0.065 -0.00924 0.310786 38.81641 attributes. Cultural Center 0.107995 0.082295 1.31 0.189 -0.0533 0.269291 27.80377 Price -0.00388 0.000295 -13.15 0 -0.00446 -0.00331 -1

p. 11 Business Ideas Development for the Cliff Castle Corridor of the Yavapai-Apache Nation: A Discrete Choice Experiment and Demographic Data Table 7: Estimated coefficients, standard error, z score, z score distribution, confidence interval at the 95% level and the estimated willingness to pay of the alternative specific constant conditional logit model (asclogit) for business development attributes.

score Coef. Std. Err. z P>z [95% Conf.Interval] WTP Alternative Outdoor 0.312342 0.096748 3.23 0.001 0.12272 0.501964 80.91762 Cooking Class 0.467634 0.083243 5.62 0 0.304481 0.630787 121.1487 Wine 0.297463 0.08308 3.58 0 0.134629 0.460297 77.06298 Microbrew 0.159623 0.082634 1.93 0.053 -0.00234 0.321582 41.35319 Restaurant 0.280063 0.081598 3.43 0.001 0.120134 0.439992 72.55521 Stargazing 0.343265 0.08226 4.17 0 0.182038 0.504492 88.92876 Retail 0.394255 0.094647 4.17 0 0.208751 0.579759 102.1386 Price -0.00386 0.000295 -13.1 0 -0.00444 -0.00328 -1

Table 8: Estimated coefficients, standard error, z score, z score distribution, confidence interval at the 95% level and the estimated willingness to pay of the alternative specific constant conditional logit model (asclogit) for business development attributes.

score Coef. Std. Err. z P>z [95% Conf.Interval] WTP Alternative Outdoor 0.29627 0.096324 3.08 0.002 0.107478 0.485063 77.41576 Cooking Class 0.467039 0.083208 5.61 0 0.303954 0.630124 122.0379 Wine 0.293313 0.083007 3.53 0 0.130622 0.456005 76.64311 Restaurant 0.280383 0.081553 3.44 0.001 0.120542 0.440224 73.26436 Stargazing 0.338504 0.082179 4.12 0 0.177436 0.499572 88.45148 Retail 0.387743 0.094497 4.1 0 0.202532 0.572954 101.3177 Price -0.00383 0.000294 -13.03 0 -0.0044 -0.00325 -1

Northern Arizona University Alliance Bank Economic Policy Institute | February 2018 p. 12 In table 8, all independent variables are “Outdoor”, and “Wine” round out the them to the estimated average price significant in predicting if a given choice top five estimated willingness to pay coefficient. While the mean estimated set will be selected. “Cooking Class” for business development ideas at $88, willingness to pays don’t change ended up having the highest estimated $77, and $76 respectively. between tables 8 and 9, the range on willingness to pay at $122. Results estimated coefficients are expressed from the discrete choice experiment Table 9 estimates a 95% confidence in dollar terms in table 9 rather than a also indicate that the estimated interval of willingness to pay by using 95% confidence interval of coefficients. willingness to pay for “Retail” the range of coefficients estimated expenditures is $101. “Stargazing”, from each activity and then comparing

[95% Conf. Interval] WTP Estimated Table 9: Estimated score Coef. Std. Err. z P>z Estimate Range WTP coefficients, standard error, z score, z score Alternative distribution, 95% Outdoor 0.296 0.096 3.08 0.002 $28.08 $126.75 $77.42 confidence interval of Cooking Class 0.467 0.083 5.61 0 $79.42 $164.65 $122.04 estimated willingness to Wine 0.293 0.083 3.53 0 $34.13 $119.15 $76.64 pay using the estimated Restaurant 0.280 0.082 3.44 0.001 $31.50 $115.03 $73.26 price coefficient and the estimated willingness Stargazing 0.339 0.082 4.12 0 $46.36 $130.54 $88.45 to pay of the alternative Retail 0.388 0.094 4.1 0 $52.92 $149.71 $101.32 specific constant conditional logit model (asclogit) for business The survey and the analysis of this report did not address existing infrastructure in the development attributes. form of the casino and hotel accommodations. It would be in the Yavapai-Apache Nation’s interest to determine how the existing infrastructure and revenue flows from Cliff Castle Casino can be leveraged to support any of the proposed business development ideas presented in this report

p. 13 Business Ideas Development for the Cliff Castle Corridor of the Yavapai-Apache Nation: A Discrete Choice Experiment and Demographic Data