Monday, August 7, 2017
Actors and theatergoers aren’t the only people excited about the new black box theater under construction in downtown Peabody, Massachusetts. Local business owners are anticipating a swell in economic activity in their restaurants, bars, and shops.
According to Arts and Economic Prosperity 5, the latest economic impact study by Americans for the Arts, patrons attending nonprofit arts and cultural events spend an average of $31.47 per person, not counting the cost of admission. The new theater, which is being created by The Northeast Arc at their community art center in downtown Peabody, is planned to seat 128 people. This means that each performance in the theatre will generate around $4000 in economic activity. Pre-show dinners, post-show drinks, souvenirs, parking, and even childcare all pump money back into the local economy.