Sales at this year”s Market Street Festival totaled more than $159,000, bringing in $11,160.63 in tax collections. And that”s just “the tip of the iceberg,” according to Main Street Columbus Inc. Director Amber Murphree Brislin.
In past years, organizers have estimated the two-day festival easily contributes more than $1 million to the local economy. A study being compiled by the Mississippi State University Extension Service”s Department of Agricultural Economics will offer a more accurate picture of how the festival fares, not only on sales tax, but also in bringing people to town to spend money on food, fuel, hotels and shopping.
The Department of Agricultural Economics estimates visitor spending in 10 categories and is based on number and types of visitors. The study surveys a sampling of attendees and also gives an estimated attendance, based on a “clicker count.”
Every hour, strategically placed people counted the number of visitors to pass their station.
“Really, we”re just trying to help communities in Mississippi,” said Rachael Carter of the Department of Agricultural Economics.
The study not only offers proof of whether or not the employees” and volunteers” time in promoting and putting on the event is worthwhile, said Dr. Albert Myles, Extension economist. It also verifies to local officials whether or not the investment is worth it for the taxpayers.
“Some of those values are tangible in the form of sales-tax receipts,” Myles said.
Spending at local restaurants, hotels and shops are estimated through the surveys, which polled about 300 festival attendees.
The complete study is expected to be ready by the second or third week of June. The last economic study on the Market Street Festival was conducted in 2004.
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