Since its formation, Insomniac has always been about positive change, from affecting the lives of our beloved attending Headliners through music, art, and love to our ever-growing Charitable Giving Initiative. Insomniac festivals and events also impact our local host communities economically, by generating taxes, revenue and so forth. When combined, Insomniac’s impression on local economies is quite sizeable.
In fact, according to a comprehensive data study released by Beacon Economics, LLC, EDC has generated a staggering $1.3 billion for the local economy and has attracted more than 1.7 million fans to Las Vegas since its debut in Sin City in 2011. As North America’s largest dance music festival, EDC Las Vegas boosted the Clark County economy by $350.3 million in 2015 alone, with over 405,000 attendees across three days (June 19–21). Additionally, the report disclosed that EDC Las Vegas 2015 created $141.3 million in increased labor income for Clark County workers, as well as 3,270 full-time jobs.
“It is incredible that in just five years, our Headliners have helped us generate more than $1.3 billion back to Las Vegas, a place I call home,” says Insomniac CEO and Founder Pasquale Rotella. “I’m so grateful that I can do what I love while making a positive impact in the community.”
Now let’s compare some figures:
- The total five-year (2011–2015) economic impact of EDC Las Vegas is equal to the average daily gross domestic product (GDP) of New Jersey, according to data provided by the US Department of Commerce.
- The 2015 festival produced $21.9 million in state and local tax revenue, which is comparable to employing 292 full-time fire and rescue staff with a $75,000 annual salary.
- In 2015, attendees’ direct spending amounted to $168.3 million, bringing the total attendee spending impact over five years to $1 billion, which is the cost of approximately 10,000 Model S Tesla cars.
- Over EDC Las Vegas’ five-year history, the festival has generated $81.4 million in state and local taxes, which could fund 1,055 full-ride tuitions for University of Nevada, Las Vegas undergraduate students.
“Each year, EDC brings in hundreds of thousands of visitors to Las Vegas, including many who didn’t have a ticket to the festival but wanted to experience the destination during EDC Week,” says Clark County Commission Chairman Steve Sisolak. “From EDC to the overall entertainment appeal of Las Vegas, EDC Week gives these visitors an experience that only this town can offer.”
Check out the nifty infographic below for a further look into the financial breakdown of EDC Las Vegas.
And remember: All of this positive impact is driven by you lovely Headliners. Every time you dance with us Under the Electric Sky, you’re making the world a happier place.