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WHAT’S THE VALUE? An economic impact study with social considerations

WHAT’S THE VALUE? An economic impact study with social considerations. Lindsay Kent, Julia Oak, Rebecca Waldrop. Origins of the Study. Sociology Senior Seminar– sociological consulting for a local non-profit organization Data collected for grant applications Anchor institution in Geneva

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WHAT’S THE VALUE? An economic impact study with social considerations

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  1. WHAT’S THE VALUE?An economic impact study with social considerations Lindsay Kent, Julia Oak, Rebecca Waldrop

  2. Origins of the Study • Sociology Senior Seminar– sociological consulting for a local non-profit organization • Data collected for grant applications • Anchor institution in Geneva • Centrally located, provides key services for the community Smith Opera House – Located in Downtown Geneva

  3. Details of the Study • Surveys administered at 13 events hosted by the Smith: January-March • Hard-copy version • Personally administered at research site • Electronic version • URL provided in event pamphlets

  4. Research Instrument • Adapted from Americans for the Arts • Conducted in 2012 • 182 study regions, representing all 50 states • Findings: • The non-profit arts and culture industry is an economic driver in communities: • Generation of $135.2 billion of economic activity • Supported 4.1 million full-time jobs in 2012 • Promotes tourism

  5. Sample Survey Questions

  6. Determining the Economic Impact • Multiplier = 1.5 • For every $1 spent, an additional $0.50 is spent in the economy • The multiplier is applied to the estimated total spending by attendees of Smith events

  7. Findings

  8. Findings Continued $118,566.00 X Multiplier of 1.5 = $177,849.00 of economic activity generated by the Smith in 2 months

  9. Comparison to National Data *Admissions not included in national study **Local Transportation included in Other for the Smith study

  10. Attendance by Zip Code

  11. Social Considerations 2013 Total Events in Geneva: 265 Hosted by the Smith: 162 Hosted by other Organizations: 103

  12. Social Considerations Level of Education

  13. Social Considerations  Median Income- City of Geneva: $37,438

  14. Implications of Social Considerations • Hosts the majority of events in Geneva • What population is the Smith serving? • Compared to their mission • An anchor institution, but for who?

  15. Thank you! Special thanks to: • Pat McGuire, Retired Professor of Economics (HWS) • Kelly Bradley, Executive Director of the Smith Center for the Performing Arts • Roy Fearon, Hobart ‘14, GIS Teaching Assistant • Volunteers at the Smith Center for the Performing Arts

  16. Bibliography • McGuire & Dimetrov (Summer 2008). Working Papers, “Economic Impact with the IMPLAN model.” Hobart & William Smith Colleges • Smith Opera House. (n.d.).in Geneva, NY. Retrieved February 16, 2014, from http://cinematreasures.org/theaters/858 • History of the Smith Opera House. (n.d.).The History of the Smith . Retrieved February 16, 2014, from http://thesmith.org/smith-opera-house/history • Bibliography for Pictures: • http://upload.wikimedia.org/wikipedia/commons/e/ea/Smith_Opera_House.jpg • http://visitfingerlakes.com/media/uploads/scenics-moodshots/historic/smith_opera_house__612x388.jpg • http://www.genevaonthelake.com/images/SmithOperaHouse.jpg • http://www.weos.org/saysyou/smithcenterforthearts.jpg • http://www.downtowngeneva.org/images/historic/pc64.jpg • http://visitfingerlakes.com/media/uploads/attractions/arts-theater/theater/the-smith/smith_detail__612x388.jpg • http://www.hws.edu/dailyUpdate/NewsDetails.aspx?aid=11304 • http://depositphotos.com/6647996/stock-illustration-Success-money-direction-sign.html • http://3.bp.blogspot.com/-ypWzdJv2Yaw/T85rdF-3DpI/AAAAAAAAAh8/5TAKzxq-P4w/s1600/8081134619-009.jpg • http://www.terragalleria.com/images/us-sw/usnv9138.jpeg • http://www.bubblews.com/assets/images/news/1301101599_1373910340.jpg • http://www.fingerlakes1.com/temporary/geneva040808.jpg • http://www.dow • http://www.bing.com/images/search?q=money+sign&FORM=HDRSC2#view=detail&id=A4DE6E2A013E900212AFB6411132A4698687A778&selectedIndex=59ntowngeneva.org/maps

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