LAST YEAR, BONNAROO INJECTED MORE THAN $14 MILLION INTO COFFEE COUNTY ALONE.
(This does not include the considerable impact on surrounding counties.)
The following information provides information regarding the economic impact of Bonnaroo 2005 … as a result of a survey conducted by Middle Tennessee State University’s Business and Economic Research Center in the Jennings A. Jones College of Business.
According to the lead investigator of the study, Dr. Murat Arik, festival organizers spent nearly $2 million and music fans $8.6 million in Coffee County. With the ripple effect, the total estimated business revenue impact of Bonnaroo on Coffee County is more than $14 million. This does not include the impact of music fans on other middle Tennessee counties.
The Bonnaroo Music Festival held in Coffee County, Tennessee, in June 2005, created a significant economic impact for Middle Tennessee. Festival organizers, published reviews of the festival and an extensive survey of Bonnaroo attendees reveal that Manchester and Coffee County enjoyed both tangible and intangible effects of the festival, including substantial economic and fiscal impacts.
Bonnaroo Music Festival has attracted considerable praise since its inception in 2001:
The New York Times noted that the festival has “revolutionized the modern rock festival.”
Rolling Stone magazine dubbed Bonnaroo 2003 “The American music festival to end all festivals.”
Rolling Stone magazine named Bonnaroo in 2004 “one of the 50 moments to change the history of rock and roll.”
Filter magazine’s Benjy Eisen reviewed Bonnaroo 2005 as living “up to its reputation as the single greatest music festival in America.”
Economic benefits from the festival are enormous for Coffee County. Direct spending in Coffee County alone was as follows:
$1,902,229 by festival organizers
$8,630,575 by music fans from across the U.S. and overseas.
The total economic impact of Bonnaroo Music Festival 2005 on Coffee County is estimated to be:
$14,087,231 in business revenues
$4,353,887 in personal income
191 new jobs
In addition, the Bonnaroo Music Festival has made substantial contributions to the local government revenues. The estimated fiscal impact of the festival was:
This includes local option sales tax on local spending, hotel/motel tax, fines and fees for activities, and direct contributions to the local government by the festival organizers.
For information, contact Dr. Murat Arik at 615 898 5424, or at email@example.com.