Project Community, Inc. has been formed as a potential partner for the PGA Champions Tour with the hope of establishing an annual Champions Tour event in New Mexico to begin in 2007 or 2008. The purpose of this study, requested by Project Community, Inc., is to assess the potential economic impacts of an annual Champions Tour stop in New Mexico. This report estimates the potential economic impacts on a three-county area -- Bernalillo, Sandoval, and Santa Fe counties. Given the distribution of population and economic activity in New Mexico, this area seems most likely to be chosen as the tournament location and most likely to feel tournament related economic impacts although some benefits will likely accrue to the state as a whole.