The three-day Electric Daisy Carnival (EDC) in Las Vegas held June 20-22, 2014 boosted the Clark County economy by an estimated $337.8 million, according to economic data provided to Insomniac by Beacon Economics, LLC. The annual event held at the Las Vegas Motor Speedway has pumped almost $1 billion into the local economy since the festival made its debut in Las Vegas in 2011.
“I’m so excited that a culture which started out years ago with such humble beginnings has evolved into a festival capable of generating almost $1 billion for Las Vegas and the surrounding areas,” said Pasquale Rotella, Insomniac’s Founder and CEO. “It’s really overwhelming when I think about it, and I’m grateful that our fans love a city that I hold so close to my heart and now call home.”
Since EDC debuted in Las Vegas in 2011, the festival has seen unprecedented growth, generating over $959 million for the residents, businesses and local governments within Clark County. According to an annual economic impact report produced by Beacon Economics, the show has continually set both attendance and economic impact records year over year starting in 2011 when the festival produced an estimated $136 million for the Clark County area.
The 2014 study, commissioned by Insomniac, determined that the impact of EDC’s attendee spending accounted for $256.6 million of the festival’s economic output. Festivalgoers’ direct spending totaled $156.6 million including $54.3 million in food and beverage, $30.2 million in accommodations, $23.5 million in gaming, $18.6 million in transportation, $16.8 million in entertainment and $13.2 million in retail spending. Insomniac spending was responsible for an impact of $81.2 million – excluding the cost of talent.
Guests traveled from all 50 states and 40 international countries, attending not only the festival but also Insomniac’s various nightclub and dayclub events during EDC Week. Nearly 96 percent of fans surveyed said they would recommend others attend EDC Las Vegas 2015.
The festival generated an estimated $19.9 million in tax revenues for state and local governments. This is equivalent to a year’s salary for more than 258 full-time fire and rescue positions in Las Vegas, representing more than one-third of all fire and rescue positions in the city. The event’s overall economic output supports the equivalent of 3,117 jobs and increased labor income by $136.6 million for workers in Clark County.