During day-two of the EDMbiz Conference & Expo 2015 in Las Vegas, Nevada – a panel arose to discuss the economic impact of EDC Las Vegas on the Las Vegas and surrounding Clark County communities.
The panel, titles “Dance Music and the Urban Ecosystem”, included such esteemed guests as Simon Rust Lamb (COO, Insomniac), Chad Anderson (Founder/CEO, USC Events), Chief Judge Gerald Rosen (U.S. District Court Eastern Court of Michigan), Sam Fotias (Senior VP, Paxahau – Detroit’s Movement Festival), Shawn Schwartz (Co-Owner/Operator, Output) and Zel McCarthy (Editor-in-Chief, THUMP) and presented findings on the financial side of the world renowned EDC Las Vegas festival.
Overall, last year’s event (EDC Las Vegas 2014) is estimated to have provided an economic impact of nearly 340 million dollars to Las Vegas and the surrounding areas.
That’s no chump change. But what does this mean for the area? It means that over 3,000 jobs were created and almost 20 million dollars was raised for state and local tax coffers in 2014 alone as a direct result of EDC Las Vegas.
It boils down to the fact that EDC brings business.
Through Insomniac’s one-of-a-kind dance music mecca, EDC Las Vegas, a real and sizable contribution is made to the community.
Jobs are created and money flows in to stimulating the local economy and provide benefit to the community and festival attendees alike.
As these concrete findings find their way into the hands of city-leaders around the world, hopefully more events will crop up cities and festivals continue to foster symbiotic relationships.