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Baltimore book festival has $4.51 million impact on Baltimore city
The Baltimore Office of Promotion & The Arts announces that the Baltimore Book Festival, an annual celebration of the literary arts held in historic Mount Vernon, had an economic impact of $4.51 million on Baltimore City in 2009 and attracted 55,000 visitors with more than 6,000 traveling from outside of Maryland.
FOR IMMEDIATE RELEASE
For media inquiries only
March 1, 2010
contact: Tracy Baskerville
Dionne McConkey
410-752-8632
The research study was conducted by Forward Analytics, a Pennsylvania based market research firm whose clients include festivals and events throughout the United States.
Of the $4.51 million economic impact, $1.22 million is comprised of direct impact while $3.29 million is indirect impact. Book vendors received $651,908 in sales; food and beverage vendors gained $620,252; and other retailers gained $42,880 in revenue.
Baltimore Book Festival attendees spent $134,177 at local hotels and generated an estimated $10,108 in tax revenues for Baltimore City. In addition, travel to and from the festival increased gas expenditures by $85,246 in Baltimore City and generated $7,705 in gasoline excised tax for the State of Maryland.
The top attraction at the Baltimore Book Festival for survey respondents is browsing for books or shopping followed by author appearances and book signings; music; food; and the Mount Vernon neighborhood. In addition, 42% of the respondents spent two days at the festival.
With support from corporate sponsors being an integral part of the Baltimore Book Festival budget, the survey research demonstrated that 58.64% of attendees could identify two or more festival sponsors.
In 2010, the 15th annual Baltimore Book Festival takes place September 24, 25 & 26 at Mount Vernon Place located in the 600-700 blocks of North Charles Street. The festival is presented by Mayor Stephanie Rawlings-Blake and produced by the Baltimore Office of Promotion & The Arts.
To download the economic impact study, go to www.baltimorebookfestival.com. For more information on the Baltimore Book Festival, call 410-752-8632 or www.baltimorebookfestival.com.