Economic Impact

POPULATION of Your Community:

Less than 50,000

Organization's TOTAL EXPENSES:

$250,000

TOTAL ATTENDANCE to your organization's arts events:

50,000

 

 

 

 

 

 

 

 

Total Expenditures:

FTE JOBS

Household Income

Local Gov't Revenue

State Gov't Revenue

TOTAL Gov't Revenue

Annual Impact of Nonprofit Arts Organizations:

$250,000

7

$173,313

$7,800

$12,353

$20,153

Annual Impact of Nonprofit Arts Audiences:

$1,160,500

39

$588,965

$52,304

$72,311

$124,615

Annual Impact of Organizations and Audiences:

$1,410,500

46

$762,278

$60,104

$84,664

$144,768

 

 

 

54.04%

7.88%

11.11%

18.99%

 

 

 

 

 

 

 

Total Expenditures:

The total dollars spent by your nonprofit arts organization and its audiences; event-related spending by arts audiences is estimated using the average dollars spent per person by arts event attendees in similarly populated communities.

FTE Jobs:

The total number of full-time equivalent (FTE) jobs in your community that are supported by the expenditures made by your arts organization and/or its audiences. An FTE can be one full-time employee, two half-time employees, four employees who work quarter-time, etc.

Household Income:

The total dollars paid to community residents as a result of the expenditures made by your arts organization and/or its audiences. Household income includes salaries, wages, and proprietary income.

Government Revenue:

The total dollars received by your local and state governments (e.g., license fees, taxes) as a result of the expenditures made by your arts organization and/or its audiences.

 

 

 

 

 

 

 

Annual Impact of Organizations and Audiences:

$1,410,500

46

$762,278

$60,104

$84,664

$144,768

 

 

 

 

 

 

 

Annual Impact from Tourism Development):

$299,350.00

0

$161,778.04

$23,603.11

$33,247.93

$56,841.04

 

 

 

 

 

 

 

Total Anticipated ECONOMIC IMPACT (per year):

$1,709,850.00

46

$924,056.04

$83,707.11

$117,911.93

$201,619.04

 

 

 

 

 

 

 

 

 

Based on the average daily expenditures from an International Association of Convention & Visitors Bureaus (IACVB) study, the following calculations were made based on the current Woodward Business Plan. Note that these numbers do not include any income generated from within the county. They only represent the increased revenue received as a result of new travel and tourism business.

 

No. of Trips

Type

Avg Spending*

Total

 

 

 

 

GROUP TOURS

250

Group Tour Traveler

$159 /DAY

$39,750.00

 

(5 coaches per year)

 

 

1,100

One-day group tour

$ 76/DAY

$83,600.00

 

(20 coaches per year)

 

 

 

 

 

 

Special Events, Conferences, Meetings

 

 

 

 

1,000

Independent Traveler: Overnights

$110/DAY

$110,000.00

2,000

Independent Traveler: Day Trippers

$33/DAY

$66,000.00

 

 

 

 

 

Total Annual Direct Increase in Revenue to Knox County Businesses:

$299,350.00

Contact Information

The Woodward Opera House,

107 South Main Street
Mount Vernon, OH 43050

(740) 392-6102
(800) 837-5282

[email protected]

Mission

Engage arts and community leadership to authentically restore the Woodward Opera House into a fully functional theater operation, develop the overall Woodward facility into a contemporary self-sustaining arts center for community interaction, become a catalyst for excellence in education, encourage civic engagement, and enrich the quality of life in the Mount Vernon ~ Knox County, Ohio area.

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