Kimmel Center Reports Economic Impact Results
June 15, 2006
The Kimmel Center for the Performing Arts
The Kimmel Center for the Performing Arts contributed $321 million to the local economy through salaries, taxes, and direct and induced expenditures in its first three full years of operation. The economic impact report was compiled using the Americans for the Arts calculator which takes into account local population and annual expenses. The $321 million impact covers all Kimmel Center performances from July 1, 2003 through June 30, 2005.
The economic contribution includes over $177 million in direct and induced expenditures, $127 million in direct and indirect salaries and wages, and almost $17 million in state and local tax revenue. When compared with the Kimmel Center’s direct expenditures, the analysis shows that the Kimmel Center generates $3 for every $1 that it expends.
“I am very pleased to announce today that since July 1, 2003 the Kimmel Center has contributed over $321 million to the local economy including $17 million in local and state tax revenue,” said Janice Price, President and Chief Executive Officer of the Kimmel Center in remarks before the Center City Proprietors Association today. “These figures are significant not only for what they represent in a monetary contribution but also in what they mean for the quality of life in the region, in our ability to attract new businesses to the region and in our ability to attract and retain talent in our region.”
In its most recent audited fiscal year (July 1,2004-June 30, 2005), the Kimmel Center for the Performing Arts contributed over $95 million in salaries, taxes, and direct and induced expenditures. Specifically, the Center contributed over $52 million in direct and indirect expenditures, $38 million in salaries and wages, $2.1 million in local government revenue and $2.6 million in state government revenue. Figures for the current fiscal year which concludes June 30, 2006 are expected to be reported later this year
About Kimmel Center Inc.
Kimmel Center, Inc. is a non-profit organization that owns, manages, supports and maintains the Kimmel Center for the Performing Arts as well as the Academy of Music which is owned by the Philadelphia Orchestra Association. The Kimmel Center for the Performing Arts and the Academy of Music serve as the home to eight Resident Company performing arts organizations including The Philadelphia Orchestra, Opera Company of Philadelphia, Pennsylvania Ballet, Chamber Orchestra of Philadelphia, American Theatre Arts for Youth, PHILADANCO, Philadelphia Chamber Music Society and Peter Nero and the Philly Pops. Kimmel Center, Inc.’s mission also includes arts in education, community outreach and a rich diversity in programming through its Kimmel Center Presents and Cadillac Broadway at the Academy series of performances.
> index of news releases
> For more information, and to request high resolution images for press use, please
send us a message online.