The Firefly Music Festival added more than $68 million to the regional economy and created the equivalent of 579 full-time jobs in 2014, according to a University of Delaware study.
In addition, state, local and federal tax contributions from the June 19-22, 2014 event at Dover International Speedway totaled $9.9 million.
The study was conducted by the Center for Applied Business and Economic Research, part of the Alfred Lerner College of Business at the University of Delaware, and was commissioned by a partnership between Dover International Speedway, event promoter Red Frog Events and the Delaware Tourism Office.
As part of the study, 900 festival-goers were interviewed about their purchases from on‐site vendors and off-site businesses, both enroute and in Dover. An additional 5,000 on‐line survey responses were included.
“As Firefly has grown, so has its impact on our state,” said Delaware Gov. Jack Markell. “We look forward to having Firefly continue to bring fans and economic activity to Delaware for years to come.”
The $68 million in spending for goods and services throughout the economy that Firefly generates averages out to more than $850 per guest, with approximately 80,000 attending the 2014 festival. The figures reflect in part Firefly’s growth since its debut in 2012, when about 30,000 fans attended.
The 579 full-time-equivalent jobs it helped create before, during and after the event came with total extra wage and salary payments of more than $23 million.
“When we launched Firefly in 2012, we had the lofty goal of making it one of the largest music festivals in the country. As we head into our fourth year, we’re excited to see it make the economic impact we hoped it would,” said Greg Bostrom, executive director of Firefly Music Festival. “It’s great to bring joy to tens of thousands of festival goers each year and help strengthen the economy in the process.”
“Bringing an event like Firefly to Delaware, of course, helps put our state on the map in the music world,” said Mike Tatoian, chief operating officer of Dover Motorsports, Inc. “But the economic numbers this study has yielded prove that the festival’s reach goes far beyond just the entertainment business.”
The top business sectors impacted by Firefly include food service and drinking establishments; retail stores; security services; building maintenance and repair services; and hotels and motels.
Firefly Music Festival returns to the Woodlands at Dover International Speedway on June 18-21, 2015.
Event organizer Red Frog Events has indicated that it wants to make improvements to the festival site and earlier announced an alliance with Goldenvoice operator of the Coachella Music and Arts Festival, one of the largest music festivals.
Red Frog also announced on Wednesday that it has acquired the ShamrockFest in Washington, D.C.
For more information, visit www.fireflyfestival.com.
