Cheyenne Frontier Days CEO Tom Hirsig says he doesn't think people understand the "economic hit" the cancellation of this year's event is going to have on his organization and the community.

The 10-day celebration brought in more than $28 million last year, generating more than $1 million in local and state taxes, more than $5 million for overnight lodging and almost $9 million for retail businesses.

It also created over 300 jobs resulting in $5 million in wages and salaries during the event.

"It's a lot of money for this community," said Hirsig. "Economically, (this cancellation) is going to be very trying for us ... $28 million to this community that won't be here."

Hirsig says CFD had already invested close to $2 million into this year's show before the coronavirus pandemic forced them to pull the plug.

"We're not going to get that back," said Hirsig. "Plus, we've got ongoing costs."

Hirsig says CFD will be contacting sponsors and vendors to discuss their options, including refunding their fees, donating a portion of their fees to the CFD Foundation or extending an account credit for the 2021 celebration.

This is the first time in the 124-year history of the event that CFD will not be held.

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