2015 Festival of Discovery’s Economic Impact Released
Greenwood, SC – Barbeque and blues music continues to be a successful combination for Greenwood and there are numbers to verify that statement.
This year’s festival was a rousing success! We have estimated that over 38,000 people attended this year’s event. In addition, we had 94 BBQ teams and 117 judges to participate in the cook-off championship. We hope that to continue to build and make the event larger in 2016.
The report shows a 5% increase in the overall revenue generated directly/indirectly as a result of the Festival. The increase in restaurant sales was measured by over and above the average sales of a typical weekend. It is estimated the Festival impacted the local and regional economy by well over $2.1 million, up from over $2 million in 2014. 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.
“Once again, we are very excited with the continued growth and success of the SC Festival of Discovery,” said UGDC Manager Laura Ackerman. “As the Uptown Manager, I was thrilled with the increase in attendance. Our team looks forward to continuing the tradition of an award-winning event, with great barbeque and entertainment, as well as the addition of new and exciting elements. We are excited about the return of the Inn on the Square as a possible venue for future Blues Cruise events and cooking demonstrations. We also look forward to utilizing the new Uptown Market as a possible venue for the event as well. We will continue to visit regional and Southeastern BBQ events in an effort to gain more knowledge and increase team participation for future festivals. I want to personally thank Carolina Pride and the many other sponsors and volunteers who have invested in this growing Greenwood tradition.”
A breakdown of the total revenue cited in the study is:
|Projection of Festival Attendees||$1,748,000.00|
|Sales Tax Generated||$104,880.00|
|Expenditures from Festival Budget||$43,433.11|
|Festival Revenue Generated||$34,062.00|
|Additional Restaurant Revenue Generated||$40,800.77|
|Sales and Hospitality Taxes Generated From Restaurants||$3,264.06|
|Hotel Room Revenue Generated||$134,198.44|
|Sales Tax From Hotel Rooms||$8,096.31|
|State and Local Accommodations Tax Generated||$6,709.91|
TOTAL ECONOMIC IMPACT $ 2,123,444.60
The 2016 South Carolina Festival of Discovery is scheduled for July 7-9, 2016. For additional information on the Festival, visit www.festivalofdiscovery.com or call Uptown Greenwood (864) 942-8448.