Tuesday, Oct. 2, 2012 | 2:09 p.m.
More EDC 2012
Insomniac, the organizer behind June’s Electric Daisy Carnival, says the three-day event at Las Vegas Motor Speedway brought in an estimated $207 million to the Clark County economy.
That amount, part of an economic impact report released today by Beacon Economics LLC, marks a 52 percent increase from the $136 million estimated by Beacon to have been brought by the 2011 Electric Daisy Carnival.
According to the report, the festival produced an estimated $13.1 million in tax revenue for the state and local government, the equivalent of 2,018 full-time jobs and $84 million in income for employees in Clark County.
“For the second year in a row, our fans’ loyalty has helped support the Las Vegas community by generating millions in tax dollars and providing jobs. Las Vegas has embraced us, and I’m excited to continue our work together,” Pasquale Rotella, president and CEO of Insomniac, said in a statement.
The study, commissioned by festival producers, compiled their estimates using data from a survey of more than 22,000 festival attendees and additional information provided by Insomniac.
The festival, which moved from Los Angeles to Las Vegas in 2011, drew more than 320,000 fans in June, up from 230,000 previous the year. The report estimates that 90 percent of attendees in 2012 traveled from outside the Las Vegas area.
Combined with the local market, those attendees spent more than $103 million -- a 45 percent increase over 2011 -- including $28.3 million on accommodations, $19.8 million on transportation, $19.6 million on dining, $17.2 million on gaming, $10.5 million on entertainment and $7.9 million on retail.
The report also credits the revenue spike to the expansion of events surrounding this year’s Electric Daisy Carnival, including the “EDC Week” pool parties and nightlife events and the inaugural EDMBiz Conference for professionals in the burgeoning Electronic Dance Music industry. The week of activities is estimated to have brought in an additional $70 million in output, $28.5 million in income for Clark County employees, 618 jobs and $4.2 million in state and local taxes from 2011.
"We are very pleased with the production and growth of EDC," said Pat Christenson, president of Las Vegas Events. "EDC created a new business conference and significantly increased festival attendance. Insomniac continues to raise the bar with their unique sensory spectacle."
Plans for the 17th annual Electric Daisy Carnival and related events have yet to be announced.