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WHAT’S THE VALUE? An economic impact study with social considerations. Lindsay Kent, Julia Oak, Rebecca Waldrop. Origins of the Study. Sociology Senior Seminar– sociological consulting for a local non-profit organization Data collected for grant applications Anchor institution in Geneva - PowerPoint PPT Presentation
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WHAT’S THE VALUE?An economic impact study with social
considerations
Lindsay Kent, Julia Oak, Rebecca Waldrop
Origins of the Study Sociology Senior
Seminar– sociological consulting for a local non-profit organization
Data collected for grant applications
Anchor institution in Geneva Centrally located,
provides key services for the community Smith Opera House – Located in Downtown Geneva
Details of the Study Surveys administered at 13 events hosted by the
Smith: January-March Hard-copy version
Personally administered at research site
Electronic version URL provided in event
pamphlets
Research Instrument Adapted from Americans for the Arts
Conducted in 2012 182 study regions, representing all 50
states
Findings: The non-profit arts and culture industry
is an economic driver in communities: Generation of $135.2 billion of
economic activity Supported 4.1 million full-time jobs in
2012 Promotes tourism
Sample Survey Questions
Determining the Economic Impact Multiplier = 1.5
For every $1 spent, an additional $0.50 is spent in the economy
The multiplier is applied to the estimated total spending by attendees of Smith events
FindingsAverage
Spending Per Person (N=384)
Estimated Total Spending for
Population (N=4201)
Admission $11.71 $49,196.00Refreshments $2.95 $12,410.00Food/Drink $8.27 $34,852.00Souvenirs/Clothing $1.36 $5,696.00Childcare $0.29 $1,204.00Overnight $3.37 $14,170.00Other $0.25 $1,038.00SUM: $28.20 $118,566.00
Findings Continued
$118,566.00 X Multiplier of 1.5 = $177,849.00 of economic activity generated by the Smith in 2 months
Comparison to National Data
Region A
(<50,000 ppl) The SmithAdmissions NA* $11.71 Refreshment and/or Snacks $3.74 $2.95 Meals $10.92 $8.27 Souvenirs and Clothing $5.73 $1.36 Transportation $2.81 NA**Child Care $0.43 $0.29 Overnight Lodging $7.51 $3.37 Other $1.32 $0.25 Average per person $32.48 $28.20
*Admissions not included in national study **Local Transportation included in Other for the Smith study
Attendance by Zip Code
Social Considerations
2013
Total Events in Geneva: 265
Hosted by the Smith: 162
Hosted by other Organizations: 103
Social ConsiderationsCompleted HS
10%
Completed 2 year degree
16%
Current College Student
13%Completed 4 year
degree25%
Post-grad or higher
36%
Level of Education
Social ConsiderationsHousehold Income Smith Sample
Less than $40,000 17.2%
$40,000-$59,999 14.9%
$60,000-$79,999 17.5%
$80,000-$99,999 15.1%
$100,000 or more 27.1%
N/A 7.8%
Median Income- City of Geneva: $37,438
Implications of Social Considerations
Hosts the majority of events in Geneva
What population is the Smith serving? Compared to their
mission
An anchor institution, but for who?
Thank you!Special thanks to:
Pat McGuire, Retired Professor of Economics (HWS)
Kelly Bradley, Executive Director of the Smith Center for the Performing Arts
Roy Fearon, Hobart ‘14, GIS Teaching Assistant
Volunteers at the Smith Center for the Performing Arts
Bibliography
McGuire & Dimetrov (Summer 2008). Working Papers, “Economic Impact with the IMPLAN model.” Hobart & William Smith Colleges
Smith Opera House. (n.d.). in Geneva, NY. Retrieved February 16, 2014, from http://cinematreasures.org/theaters/858
History of the Smith Opera House. (n.d.).The History of the Smith . Retrieved February 16, 2014, from http://thesmith.org/smith-opera-house/history
Bibliography for Pictures: http://upload.wikimedia.org/wikipedia/commons/e
/ea/Smith_Opera_House.jpg http://visitfingerlakes.com/media/uploads/scenics-
moodshots/historic/smith_opera_house__612x388.jpg
http://www.genevaonthelake.com/images/SmithOperaHouse.jpg
http://www.weos.org/saysyou/smithcenterforthearts.jpg
http://www.downtowngeneva.org/images/historic/pc64.jpg
http://visitfingerlakes.com/media/uploads/attractions/arts-theater/theater/the-smith/smith_detail__612x388.jpg
http://www.hws.edu/dailyUpdate/NewsDetails.aspx?aid=11304
http://depositphotos.com/6647996/stock-illustration-Success-money-direction-sign.html
http://3.bp.blogspot.com/-ypWzdJv2Yaw/T85rdF-3DpI/AAAAAAAAAh8/5TAKzxq-P4w/s1600/8081134619-009.jpg
http://www.terragalleria.com/images/us-sw/usnv9138.jpeg
http://www.bubblews.com/assets/images/news/1301101599_1373910340.jpg
http://www.fingerlakes1.com/temporary/geneva040808.jpg
http://www.dow http://www.bing.com/images/search?q=money+si
gn&FORM=HDRSC2#view=detail&id=A4DE6E2A013E900212AFB6411132A4698687A778&selectedIndex=59ntowngeneva.org/maps