The Denver Performing Arts Complex has an annual economic impact of more than $141 million and corresponds to approximately 2,500 jobs in Denver, according to an analysis recently completed by BBC Research & Consulting and released by the city and county of Denver.
Denver Arts & Venues retained BBC to estimate the annual economic impact of the arts complex on the city and county of Denver and to help understand the nature of the DPAC’s impact on the local economy. The study will also be analyzed by Mayor Michael B. Hancock’s Executive Leadership Team as it works on a plan called “The Next Stage: A Plan for the Performing Arts Complex.”
According to the report, arts complex operations and estimated spending by visitors who come from outside Denver accounts for more than $80 million of annual direct spending. Spending generated by visitors and annual operations circulates through the local economy, creating a secondary impact of more than $60 million.
The city says the most critical factors influencing the economic impact are performing companies operations, revenues from ticket sales, annual number of visitors, and visitor spending on lodging, transportation, food and beverage, shopping, and other recreational activities.
In 2013, more than 781,000 patrons attended performances and events held at the arts complex, the report says. An estimated 77% of those visits came from patrons who live outside of the city and county of Denver, and nearly one-quarter of visits originated outside of the Denver metropolitan area.
The Denver Performing Arts Complex is one of the largest performing arts centers in the United States. The 12-acre downtown campus includes:
• Venues and public spaces (The Galleria, Garner Galleria Theatre, Ellie Caulkins Opera House and Studio Loft, Temple Hoyne Buell Theatre, Boettcher Concert Hall, Helen Bonfils Theatre Complex, and Sculpture Park)
• Event spaces, a ballroom, restaurants, retail sites, meeting rooms and offices
• A 1,700-space parking garage
In addition to hosting Broadway touring productions, education programs and a variety of other productions, the arts complex is home to four resident performing companies: Colorado Ballet, Colorado Symphony Orchestra, Denver Center for the Performing Arts, and Opera Colorado.