Analyzing Museum’s Economic Stimulus

Scenario: The Corning Museum of Glass, a tourism magnet in Upstate New York, seeks to calculate its economic contribution to the state’s Finger Lakes region.

Challenge

  1. Assess how much money is spent in the region by tourists who attend the Museum
  2. Determine how many jobs – and how much income – is generated by the Museum
  3. Calculate the tax revenue impacts created as a result of the Museum and the 400,000 visitors who visit the Museum annually

What CGR Delivered

Expert data collection and analytical support, encompassing:          

  • Design of an IMPLAN-based economic impact approach to capture direct impacts (payroll, purchase of goods and services, visitor activity) and also spillover effects
  • Analysis of employment, labor and fiscal impacts

Result and Impact

  • CGR found that the Museum:
    • supports more than 760 full-time equivalents in the region
    • generates nearly $33 million in economic impact annually
    • contributes $2.7 million in tax impact through sales, income and property taxes