By: Anna Bergevin
This week in Utah, the Sundance Film Festival is well underway. With an estimated attendance of more than 45,000 people the festival has a significant economic impact on the state. The Kem C. Gardner Policy Institute contracts with the Sundance Film Festival each year to conduct a study of this economic impact.
Last year’s festival was estimated to generate nearly $62.2 million in spending. While approximately a third of festival attendees are locals, the vast majority of spending ($57.2 million) comes from out of state visitors. This spending by nonresidents generated roughly $63.2 million in gross state product (GSP), provided significant earnings to local workers, supported more than a thousand jobs, and contributed substantial tax revenue to state and local governments. Details of the 2015 economic impacts are outlined in the table below.
2015 Sundance Film Festival: Economic Impacts of $57.2 Million in Nonresident Spending