Kimmel Center Calculates $321 Million Economic Impact

Classic Arts News   Kimmel Center Calculates $321 Million Economic Impact
 
The Kimmel Center for the Performing Arts contributed $321 million to the Philadelphia-area economy during its first three years in operation, the center has announced.

The figure includes salaries, taxes, and "direct and induced expenditures" between July 1, 2003, when the center's first full fiscal year began, and June 30, 2005.

In a speech to the Center City Proprietors Association on June 15, Kimmel Center president and CEO Janice Price said, "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."

According to the Kimmel Center's calculations, the performing arts complex generates three dollars in economic impact for every dollar that it spends.

The Kimmel Center is the home of the Philadelphia Orchestra, and also presents other local groups and touring companies. Its much-anticipated opening in late 2002 was marred by complaints about acoustics, construction delays and cost overruns, and it has continued to struggle financially.


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