Home » 2016 Festival of Discovery Economic Impact Released
2016 Festival of Discovery Economic Impact Released
2016 Festival of Discovery Economic Impact Released
The S.C. Festival of Discovery has announced another successful year of barbeque and blues for the community of Greenwood. With an estimated 38,000 people in attendance, there is no doubting the popularity of this event. In addition to the festival goers, there were 84 teams and 112 judges participating in the cook-off championship.
Download Full 2016 Economic Impact Report (pdf)
The report shows an increase in the overall revenue generated directly and indirectly as a result of the Festival. The increase in restaurant sales was measured by over and above the average sales of a typical non-festival weekend. It is estimated the Festival impacted the local and regional economy by over $2.1 million during 2016. This is an increase of over $600,000 in the last 5 years. It is reported that every industry from retail to hospitality prospered due to the Festival’s visitors spending money in Greenwood.
“We were extremely thrilled with the success of the S.C. Festival of Discovery this year,” said Uptown Manager Lara Hudson. “I think the Index-Journal said it best in a recent editorial….”The Festival runs like a well-oiled machine”. Our dedicated team works tirelessly to continue to grow and improve the event each year, as we are already in the planning stages of the 2017 event! We want to thank our presenting sponsor, Carolina Pride, and the many other sponsors for their continued support. We look forward to providing Greenwood with another fantastic festival in 2017.”
Below is a breakdown of the total revenue cited in the Economic Impact Report.
| Revenue Source |
Revenue |
| Projection of Festival Attendees |
$1,748,000.00 |
| Sales Tax Generated |
$104,880.00 |
| Expenditures from Festival Budget |
$28,443.13 |
| Festival Revenue Generated |
$40,125.00 |
| Additional Restaurant Revenue Generated |
$40,309.81 |
| Sales and Hospitality Taxes Generated from Restaurants |
$3,224.78 |
| Hotel Room Revenue Generated |
$160,680.60 |
| Sales Tax from Hotel Rooms |
$9,640.84 |
| State and Local Accommodations Tax Generated |
$8,034.03 |
Total Economic Impact: $2,143.338.19
The 2017 S.C. Festival of Discovery is scheduled for July 6-8, 2017. For additional information please visit www.festivalofdiscovery.com or call Uptown Greenwood at 864-942-8448.
