The Power of a Cultural Campus: Lincoln Center's Economic Impact on New York City

Abstract

Lincoln Center, the cultural heart of New York City for over half a century, is also an important economic force, according to a new report released today. Lincoln Center's 11 resident cultural organizations and its three long-term licensees hosted 4.5 million people in the 2015 fiscal year, and the cultural campus contributed $2.4 billion in economic impact in New York City. In addition, New Yorkers benefited from access to free performances: 33$2.4 billion impact consists of direct spending by Lincoln Center of $785.4 million and indirect spending of$1.4 billion. Lincoln Center tourists--audience members from out of town who said that Lincoln Center was a very important reason for their trip to New York City--spent $669.8 million, having an impact of$1 billion. This economic activity created nearly 16,000 jobs in the city. Some highlights from the report: Lincoln Center contributed $2.4 billion to New York City's economy in the 2014-2015 season. Lincoln Center organizations spent$785.4 million in New York City during that period, having an economic impact of $1.4 billion.$113.5 million in New York City taxes were collected. Lincoln Center tourists--audience members from out of town who said that Lincoln Center was a very important reason for their trip to New York City--spent $669.8 million, having an impact of$1 billion. 15,802 New York City jobs were created by this economic activity. 71% of Lincoln Center expenditures were on program-related labor and expenses. 44% of all attendees took advantage of Lincoln Center free events, programs, and admissions. Nearly 1.5 million people attended a free performance, and another half million visited the New York Public Library for the Performing Arts, to attend free events