The Economic Impact of the 2003 Tall Stacks Festival on Greater Cincinnati
The Tall Stacks Festival is an important local event. Through its own operational expenditures, its affiliated operations, and spending by visitors from outside the area, it benefits the economy of Greater Cincinnati. The Festival has economic impacts on the surrounding region through its events, for which boats, artists, and visitors travel from outside the area. Because of its educational and community-building activities, it has an impact on the surrounding community in other ways as well.
The event also plays host to school field trips and thus carries significance as a regional educator. There are special programs in the Festival that are oriented towards children-increasing their knowledge and stimulating observations. Among other impacts on the Cincinnati region, Tall Stacks has had an impact on the image of the region through media and visitor impressions.
What is the economic impact of the 2003 Tall Stacks Festival?
- 2003 Tall Stacks Festival had a total economic impact of $38.2 million on the Greater Cincinnati economy, which generated $12.1 million in household earnings and supported 536 jobs in the area.
- All together, these economic activities generated over $600,000 in tax revenues for the City of Cincinnati, Hamilton County, and other municipalities within the County.
- Through its attraction of over 127,000 visitors from outside the area, the 2003 Tall Stacks Festival brings new money into the region, replenishing and expanding the Greater Cincinnati economy.
The 2003 Tall Stacks Festival makes a significant contribution to the economic vitality of the downtown area. Because it is located in downtown Cincinnati, spending by the 2003 Tall Stacks Festival, as well as by both out-of-town and local visitors, is concentrated in this area.