Broadway Contributed $11.2 Billion to NYC Economy During 2010-11 Season

News   Broadway Contributed $11.2 Billion to NYC Economy During 2010-11 Season
During the 2010-11 season, Broadway as an industry contributed $11.2 billion to the economy of New York City, according to statistics released June 5 by the Broadway League.

This amount includes direct spending in three areas: spending by producers to mount and run shows; spending by theatre owners to maintain and renovate venues; and ancillary purchases by "Broadway Tourists" (defined by the League as non-New York City residents who said that Broadway was a very important reason in their coming to New York City). The money that was directly spent in these areas was then re-spent in multiple subsequent rounds.

In total, the full contribution of Broadway Tourists amounted to $9.0 billion; shows contributed $2.2 billion; and theatres $22.3 million, for a total of $11.2 billion to New York City's economy.

Broadway supports 86,000 jobs and generates $550 million in taxes to NYC.

Charlotte St. Martin, executive director of The Broadway League, said in a statement, “Broadway continued to show growth in economic impact on New York City with a most impressive 9% increase from the 2008 – 2009 season. The increase in the number of tourists who were drawn to the city because of Broadway directly was the most important driver in the growth of jobs supported by our industry from 84,400 to over 86,000 jobs, and generated $550 million in taxes, compared to $477.77 from the last report.”

The statistics are from The Broadway League's 2010-11 Broadway’s Economic Contribution to New York City report. *

The Broadway League, founded in 1930, is the national trade association for the Broadway industry.

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