PARK CITY, Utah, June 14, 2017 (Gephardt Daily) — The 2017 Sundance Film Festival generated an economic impact of $151.5 million for Utah, according to information released Wednesday by the Sundance Institute.
According to a study conducted by Y² Analytics, the Sundance Institute says, at least 71,600 people attended the 2017 festival, coming from 46 states and 18 foreign countries. The festival generated $14 million in state and local tax revenue, and 2,773 jobs were supported, the Sundance Institute information said.
That monetary total does not include impact of year round programs in Utah such as Filmmaker Labs and Summer Film Series.
According to the news release, this year’s economic impact brought the cumulative total since 2013 to $465 million, with more than $41.6 million in state and local tax revenue generated and more than 8,400 jobs supported.
“It is apparent that the Sundance Film Festival continues to have an expanding impact on Utah’s vibrant and diverse economy,” Governor Gary R. Herbert said in a prepared statement.
“In addition to the obvious economic benefits, our ongoing collaboration with Sundance Institute highlights the exceptional cultural, recreational, tourism and business opportunities available here in Utah.”
Betsy Wallace, CFO and Managing Director of the Institute, also weighed in.
“This year’s numbers clearly display the great economic return that investments in the arts can produce in a community,” she said.
“We’re proud to call the state of Utah home, and with the support of the state, local communities, great local vendors and indispensable volunteers, Sundance Institute is able to bring an arts event of this size and scope to Utah.”