Electric Daisy Carnival has injected close to a billion dollars into the local economy of Clark County, Nevada
Los Angeles county must be regretting their decision to kick out Electric Daisy Carnival.
Insomniac Event flagship festival, Electric Daisy Carnival Las Vegas, has proven to be a boon for the local economy in Clark County, Nevada. Held last year from June 20th to 22nd, the festival boosted the economy by an estimated $337.8 million, approaching the $1 billion dollar mark since it was forced to relocate in 2011. Since its debut just outside of Las Vegas, the festival has seen unprecedented growth generating a grand total of $959 million for local residents and business owners. According to an annual economic report by Beacon Economics, the event has set records year-over-year since its inception.
“I’m so excited that a culture which started out years ago with such humble beginnings has evolved into a festival capable of generating almost $1 billion for Las Vegas and the surrounding areas,” said Pasquale Rotella, Insomniac’s Founder and CEO. “It’s really overwhelming when I think about it, and I’m grateful that our fans love a city that I hold so close to my heart and now call home.”
The study, commissioned by Insomniac, showcased some seriously impressive numbers:
EDC attendee spending accounted for $256.6 million of the total economic output. With numbers this large it is sometimes best to put them into perspective; The $19.9 million the festival generated in tax revenues alone is the yearly equivalent of more than 258 full-time fire and rescue workers. The festival essentially paid for 1/3 of the city’s safety forces in one three day weekend.
Beacon Economics estimated the amount of spending generated by EDC Las Vegas using data collected via a comprehensive survey of tens of thousands of attendees and data provided by Insomniac.
Plans for the 19th annual Electric Daisy Carnival and its return to the Las Vegas Motor Speedway will be announced on November 18th.