Cali-Roots Fest Reveals $12.1 Million Benefit to the County of Monterey
~California Roots Music and Arts Festival Release their
Economic Impact Report, Revealing a Staggering
$12.1 Million Benefit to Monterey County~
The 2014 California Roots Music and Arts Festival Produced a Stellar Line-Up with 311, Damian Marley, Ziggy Marley, SOJA, Rebelution and Steel Pulse, Over The 3-Day
World Class Festival, Providing Many Jobs, Revenue and Clout for the County of Monterey, which is Revealed in Their Economic Impact Report.
Monterey, CA. September 02, 2014. - North America's largest annual reggae-rock event, the California Roots Music and Arts Festival held in Monterey, California is setting the bar for festivals and financial gains for the county by revealing its impressive financial report. The report was guided by the support of a comprehensive survey from more than one quarter of the
12,000 daily festival attendees, which shows the county's annual revenue-boost by a staggering $12.1 million.
The Economic Impact Report was produced by the independent Los Angeles based economic research and consulting firm Beacon Economics, who also performs reports for the California State Controller's Office, Paulson & Company (one of Wall Street's leading hedge funds) the PGA Tour, Southern California Edison, Kaiser Permanente and the Sacramento Kings basketball team, along with many others.
The report for California Roots Music and Arts Festival reveals a substantial impact to the local economy and states that 90.5% of the festival attendees travelled from other parts of California, including out of state and even out of the country. Attendees spent a whopping $8.4 million to benefit the county, with $2 million going towards accommodations, $4 million
towards food and beverages, $0.6 million towards entertainment, while $1.1 million went towards retail spending, along with $0.6 million of those dollars going towards local transportation.
Even more impressive, the county's economic output increased by $12.1 million. Below is a snip from the Economic Impact Report:
Economic output in Monterey County increased by $12.1 million
Local attendees were responsible for $0.3 million of the economic impact, visiting attendees were responsible for $10.1 million and California Roots was responsible for $1.7 million.
The festival supported the equivalent of 132 full-time jobs.
Labor income for workers in Monterey County increased by $4.1 million.
The festival generated an estimated $1.2 million in taxes for state and local governments.
This is enough revenue for the equivalent of more than 18 teachers at Monterey Unified School District, at an annual rate of over $64,000.
Co-Producers Jeff Monser and Dan Sheehan, collectively have produced five annual California Roots Music and Arts Festivals, working full time on the Cali-Roots brand, alongside year-round staff and volunteers. Together, in 2013 Monser and Sheehan introduced their North Carolina - California Roots Festival, the "Carolina Sessions" which appears to have all of the magic ingredients, talent and flavor for the same growth and success that the two have made here on the West Coast.
"We work on this event year-round and were curious to see how this event affected the surrounding economy. The entire Cali-Roots team is thrilled that we have built such an amazing event in Monterey County and it's awesome to see the results of this report," says Sheehan.