EDC Chicago Generates $26.1 Million For The Local Economy - EDM Culture - EDM News

Avatar:
Magnetic
Author:
Publish date:
Social count:
9

http://electronicmidwest.com/wp-content/uploads/2013/05/edc-chicago-day-two-Kabik3.jpg

A report commissioned by Insomniac Events and generated by Beacon Economics, LLC has found that year's first EDC Chicago has generated over $26.1 million for the local economy. Here's the breakdown-

$10.7 million from visiting festival attendees
$4.3 million from local festival attendees
$11.1 million in Insomniac spending

MAGNETIC RECOMMENDS:Recap- Escape From Wonderland

Attendee spending benefitted multiple channels including food and beverage, accommodations, transportation, retail and other forms of entertainment.

In addition to the revenue the festival also brought 279 full time equivalent jobs and $10.9 million in income for labor workers in the Chicago area.

$1.6 million in state and local tax revenue was generated by EDC Chicago as well. According to the report, this is "the equivalent to roughly 21 full-time teacher positions at Chicago Public Schools or 20 full-time police officer positions in the City of Chicago".

Source: Insomniac
Image Credit: ElectronicMidwest.com

Follow Insomniac on Facebook | Twitter