NEW GLASGOW – Organizers of the New Glasgow Riverfront Jubilee say there are about a million reasons to support the event – and they’ve got the numbers to back it up.
The Jubilee has released details of an economic impact survey conducted during last year’s event, which took place Aug. 3-5. The study, conducted by the Canadian Sport Tourism Alliance and funded by Events Nova Scotia, shows that the total economic activity generated by the three-day event was $1.1 million.
“The New Glasgow Riverfront Jubilee is a stand-alone non-profit organization that is entirely contingent on attendance and the support of its many sponsors and volunteers,” says Co-Chair Mike Dunning. “We’ve always known the Jubilee was an important economic generator, but we can now quantify the benefit to others as never before.”
Visitors to the Jubilee spent more than $256,000 in New Glasgow. The spending of those attending the festival, combined with the expenditures by the Jubilee reached $464,000, generating an estimated net economic activity (GDP) of $485,000 in the Province of Nova Scotia, of which $187,000 occurred in New Glasgow.
The New Glasgow Jubilee operates on a budget of $250,000, which is direct expenditure into the economy. This budget comprises risk to the organization, as is it paid for from revenues from the event.
These expenditures supported $313,000 in wages and salaries and an estimated 10 jobs, meaning that the total economic activity generated by the 2012 New Glasgow Jubilee was $1.1 million in Nova Scotia, $629,000 occurring in New Glasgow.
Not included in the economic impact figures but critical to the event is the value of goods and services provided in-kind from sponsors of an additional $260,000. This support comes from some 60 different businesses and organizations from the local community and beyond. Also not included in the figures is the value of the time and labour of 300 volunteers that produce the event each year.
The survey found that 36 per cent of visitors to the Jubilee are from outside the region. For the purpose of this study, the New Glasgow region was defined as within a 40-km radius. Fifty-four per cent of visitors attended for more than one day, and overnight visitors spent four times more than day trip visitors purchasing other goods and services like recreation, shopping, and food and beverage.
“The numbers contained in the Economic Impact Assessment indicate a payoff to our music destination strategy,” says the Jubilee’s executive director, Carlton Munroe. “By producing and staging a one-of-a-kind intimate music experience in an amazing venue, we see people visiting the community, many for the first time. And it’s all because of the magic of music.” The New Glasgow Riverfront Jubilee is a non-profit event run by a volunteer board of directors. The three-day music festival will take place Aug. 2-4 in 2013. Lineup details will be announced in April.