Electric Daisy Carnival has added $1.3 billion to Las Vegas economy
According to a recent report, Electric Daisy Carnival Las Vegas has generated more than $1.3 billion for Clark County’s economy since its move from Los Angeles in 2011.
The findings, part of an Economic Impact Report for EDC 2015, provide staggering insight into the benefits of hosting the iconic electronic music festival. The Insomniac-helmed event’s 2015 edition sold out completely, bringing 405,000 attendees and more than $350 million to the county.
“Each year EDC brings in hundreds of thousands of visitors to Las Vegas, including many who didn’t have a ticket to the festival, but wanted to experience the destination during EDC Week,” said Steve Sisolak, acting Commission Chairman for Clark County, which contains Las Vegas.
All in all, EDC’s five year span in sin city has hauled in nearly 2 million fans and funneled $1.3 billion into the local economy. The tax revenue itself — $81.4 million with $21.9 million last year alone — indicates the positive impact the festival has made.
Pasquale Rotella, founder of Insomniac, said of the news: “It is incredible that in just five years our headliners have helped us generate more than $1.3 billion back to Las Vegas, a place I call home. I’m so grateful that I can do what I love while making a positive impact in the community”