The Atlanta Fed's SouthPoint offers commentary and observations on various aspects of the region's economy.
The blog's authors include staff from the Atlanta Fed’s Regional Economic Information Network and Public Affairs Department.
Postings are weekly.
Jazz Fest: Another Capital Boost in New Orleans
In March, I wrote about the impact of Mardi Gras on the New Orleans economy. Well, in case you didn’t know this already, we love our festivals here in NOLA. The fact that they support our economy is just lagniappe (that’s “a little something extra” in New Orleans–speak). Second only to Mardi Gras in terms of economic impact is the New Orleans Jazz and Heritage Festival, or “Jazz Fest,” which this year spanned two spring weekends: April 27–29 and May 3–6. The festival attracts about 400,000 people each year, who come to hear eclectic musical performances (from blues, jazz and rock to gospel, zydeco, pop, and more) and eat some of the best local food around (crawfish monica, alligator pie, shrimp bread, and cochon de lait, to name a few).
According to the New Orleans Jazz and Heritage Festival and Foundation Inc., the nonprofit organization that owns and manages the event, Jazz Fest generates more than $300 million for the city. This figure includes spending at the festival, Jazz Fest staff wages, hotel rooms, and estimated spending at restaurants and other shops and activities. The foundation uses the profits from the festival to preserve the city’s musical culture by putting on other festivals and concerts (smaller and free), lectures and literary events, gallery exhibits, educational programs, and grants for students and community cultural organizations. So you could say that Jazz Fest not only has a positive economic impact on New Orleans but also a significant human capital contribution as well.
If you haven’t been to Jazz Fest yet, make plans to come next year. And remember, your contribution produces economic value in the form of financial and human capital.
By Rebekah Durham, economic policy analysis specialist in the Atlanta Fed's New Orleans Branch
TrackBack URL for this entry:
Listed below are links to blogs that reference Jazz Fest: Another Capital Boost in New Orleans:
- Through the Eyes of a Big Fan
- Southeastern Manufacturing Sees No Shadow
- Southeastern Labor Market Continues Strengthening
- A New Year, a Better Economy?
- Florida's Economic Rebound Continues
- Charting Employer Sentiment in the Southeast
- O Manufacturing, Is Winter Thy Enemy?
- New Orleans Area Optimistic Heading into 2015
- Florida's Job Report Shines Bright
- Will Retail Sector Maintain GDP Momentum?
- February 2015
- January 2015
- December 2014
- November 2014
- October 2014
- September 2014
- August 2014
- July 2014
- June 2014
- May 2014
- Banks and banking
- Beige Book
- Business Cycles
- Commodity Prices
- Consumer Savings
- Data Releases
- Disaster recovery
- Economic conditions
- Economic Growth and Development
- Economic Indicators
- Fiscal Policy
- Gulf Coast
- Health Care
- Holiday Sales
- Labor Markets
- Local Economic Analysis and Research Network (LEARN)
- Monetary Policy
- Natural Disasters
- New Orleans
- Oil Spill
- Real Estate
- Sales Tax