Festival of Discovery Brings in Over $1 Million
August 13, 2009
Greenwood, SC - Barbeque and blues music continue to be a successful combination for Greenwood and there are numbers to verify that statement.
- The 2009 South Carolina Festival of Discovery Economic Impact Report (pdf)was presented today to the Uptown Greenwood Development Corporation (UGDC) Board.
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- The report shows a 70% increase in the overall revenue generated directly/indirectly as a result of the Festival.
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- It is estimated the Festival impacted the local and regional economy by over $1,000,000, up from over $602,000 in 2008. But the trickledown effect from the Festival makes the impact even greater. Every industry from retail to hospitality prospered because the festival’s out of town guests spent money in Greenwood.
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The 2009 South Carolina Festival of Discovery Economic Impact Report was presented today to the Uptown Greenwood Development Corporation Board (UGDC).
“We are thrilled with the positive results,” said UGDC Manager Angie Jones. “The festival has a positive impact not just on Uptown, but on Greenwood as a whole. I want to personally thank the many sponsors and volunteers who have invested in this growing Greenwood tradition.”
The impact statement also showed that 7 of Greenwood’s hotels reported 977 room nights booked as a result of the Festival, up from 390 in 2008.
The energy from the 2009 Festival was summed up by an unnamed attendee; “I have never seen Greenwood so lively as this weekend. There were lots of people, lots of music and lots of fun. Uptown was definitely the place to be this weekend!”
A breakdown of the total revenue cited in the study is:
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Revenue Source
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Revenue
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Projection of Visitor Expenditures
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$840,000.00
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Sales Tax
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$58,800.00
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Expenditures from Festival Budget
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$26,795.00
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Festival Revenue Generated
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$20,127.00
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Additional Restaurant Revenue
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$28,000.00
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Sales and Hospitality Taxes From Restaurants
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$2,520.00
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Hotel Room Revenue
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$80,436.41
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Sales Tax From Hotel Rooms
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$5,630.55
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State and Local Accommodations Tax
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$4,021.82
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| TOTAL |
$1,066,330.78 |
The report also noted that Festival attendees and participants traveled to Greenwood from 164 different zip codes and 14 different states including Texas, New Jersey, Oklahoma, and California.
The 2010 South Carolina Festival of Discovery is scheduled for July 8 - 10. For additional information on the Festival, visit www.festivalofdiscovery.com or call Uptown Greenwood (864) 942-8448.
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