LOCAL ECONOMIC DEVELOPMENT BY

PROMOTING CULTURAL EVENTS AND TOURISM

KANGJUN CHOI

UNDERSTANDING THE LOCAL ECONOMY

• The geographic focus: East Lansing• It has diverse enterprises (banks and financial institutions, high-tech and

insurance companies, education and health care services, non-profit associations, retail establishments, restaurants, etc.) with more than 900 businesses.

• The commercial vacancy rate is low. 3.1 percent of commercial structures were vacant in June 11, 2014.

• Several mixed-use projects are proposed for the downtown area will increase and diversify available office, retail, and restaurant space.

• High student population with limited finances and industrial space is increasing with manufacturing companies.

UNDERSTANDING THE LOCAL ECONOMY

UNDERSTANDING THE LOCAL ECONOMY

• 2.9 percent of the adult population is self-employed.• 85.1 percent of the region’s firms have less than 20 employees.

WHY PROMOTING CULTURAL EVENTS AND TOURISM?

• Small local businesses can be advertise and make profits from the local residents and visitors through cultural events and tourism.

• Expands local economy, More jobs• Less commercial vacancy & industrial space expansion

STRATEGIES

• More than half of Michigan’s Leisure Person-Days come from within the state itself, and out one-fifth of the Michigan’s visitor days are from neighboring Midwestern states.

• The median income Michigan visitors is up in 2010, with a slightly smaller share of visitors days coming from travelers from households less than $50,000 annual income. About 72% are married and 39% are college graduates.

• Michigan’s top five leisure visitor activities are: dining, shopping, entertainment, sightseeing, and gambling.

FESTIVALS

• Increase local economic activity & access to arts/culture• Exploit existing resources around arts/culture assets• Place making

CASE STUDY: SUMMER SOLSTICE JAZZ FESTIVAL• In 1996, East Lansing Arts Commission Co-Chair, Al Cafagna presented the

first Summer Solstice Jazz Festival as a local jazz supporter.• In 2012, the Summer Solstice Jazz Festival Advisory Board was included and

raised the funds to produce the event, volunteer at the festival and support overall festival production. Many local organizations and businesses were advertised as sponsor of Summer Solstice Jazz Festival.

• The financial impact of East Lansing's Summer Solstice Jazz Festival (SSJF) is in the process of evaluating from EDA University Center of Regional Economic Innovation Department.

SPONSORS OF SUMMER SOLSTICE JAZZ FESTIVAL• MSU UNIVERSITY OUTREACH AND ENGAGEMENT, MSU FEDERAL CREDIT UNION, LIQUID WEB,

INGHAM COUNTY HOTEL MOTEL FUND FOR ARTS AND TOURISM, MICHIGAN COUNCIL FOR THE ARTS AND CULTURAL AFFAIRS (MCACA), WLAJ TV53- MEDIA SPONSOR, EAST LANSING ARTS COMMISSION, MSU COLLEGE OF OSTEOPATHIC MEDICINE, FIRSTMERIT PRIVATE BANK, FOSTER SWIFT COLLINS AND SMITH, MICHAEL CAMP, NORTHWEST CRITERION ASSET MANAGEMENT LLC, JOSEPH GILLOTTE, JOHN AND FRAN LOOSE, DON KOCH AND BARBARA SAWYER-KOCH, DR. CHARLES AND MARJORIE GLIOZZO, ROBERT F. BANKS, DON KOCH AND BARBARA SAWYER-KOCH, JOHN AND FRAN LOOSE, MSU OFFICE FOR INCLUSION AND INTERCULTURAL INITIATIVES, COLDWELL BANKER HUBBELL BRIARWOOD REALTY, JAMES FORGER AND DEBORAH MORIARTY, MSU DEPARTMENT OF NEUROLOGY AND OPHTHALMOLOGY, MSU RESIDENTIAL COLLEGE IN THE ARTS AND HUMANITIES

QUESTIONS?

REFERENCES

• http://www.reicenter.org/projects/current-projects#wilson2015• http://www.eljazzfest.com/154/SSJF-Advisory-Board• https://cityofeastlansing.com/DocumentCenter/View/753• http://www.enugustatetourismboard.com/p.php?u=impact-of-festivals-i

n-cultural-tourism-&id=29