as declared in wreg
Memphis in May reports $88M impact on Memphis-area economy
Memphis in May reports $88M impact on Memphis-area economy
× Memphis in May reports $88M impact on Memphis-area economyMEMPHIS, Tenn. — The Bluff City had big bucks to roll in thanks to this year's Memphis in May.The 2016 festival made an $88 million impact in the city and surrounding area and supported more than a thousand jobs.Memphis in May said out-of-towners were a big drive for profit, with tourists spending money on hotels, shopping and, of course, that great Memphis barbecue!
read more from here
moreover from commercialappeal
Memphis in May reports $88 million economic impact in '16
Memphis in May reports $88 million economic impact in '16
The 2016 Memphis in May Beale Street Music Festival drew more than 93,000 fans from more than 50 miles away from the greater Memphis area.(Mike Brown/The Commercial Appeal)By John Beifuss and Mark Richens of The Commercial AppealThe Memphis in May International Festival delivered $88 million in economic impact this year, according to an analysis made public Wednesday.That figure is up 15 percent from the festival's economic impact as determined by a similar study five years ago, but the increase is no surprise to Wayne Tabor, general manager of the Holiday Inn Downtown at 160 Union Ave."I tell you, I sell out every musicfest weekend, I sell out every barbecue week," said Tabor, referring to Memphis in May's signature events, the Beale Street Music Festival and the World Championship Barbecue Cooking Contest.
read more from here
besides memphisflyer
Infographic: Memphis in May 2016 Economic Impact
Infographic: Memphis in May 2016 Economic Impact
click to enlargeMemphis in May (MIM) bought more than $88 million to the area's economy this year, according to a new study.More than 265,000 attended the month-long festival this year and they spent $38.3 million while they were there.Spending outside the festival gates (restaurants, parking, shopping, and more) was more than $72 million, according to MIM."Our mission directs that we foster economic growth for our city, so we are pleased to have once again produced such a major positive impact for the Memphis area," said James L. Holt, president and CEO of MIM.The economic impact of the 2016 festival was 15 percent higher than in 2011 when a similar study was conducted by the University of Memphis Sparks Bureau of Business and Economic Research, according to MIM.The 2016 festival brought more than $2.8 million to city and county tax coffers.The MIM organization pays to rent Tom Lee Park form the city and pays for all utilities on the site during the festival.While the festival does get support from city and county public safety organizations, it does not receive any direct funding from local taxpayers.
read more from here
No comments:
Post a Comment