Facts and Figures
- Project Scope, Project Cost, and Partner Participation
- Fact Sheet
- Economic Impact
- Anticipated Timeline
- Site Plan
Economic Impact
The growth within the Prince William/Manassas communities has brought with it increased demand for educational and cultural services, activities and facilities. Survey research conducted in 2001-2002 as part of the partner-funded Feasibility Study for the Hylton Performing Arts Center project clearly demonstrated that the residents of Manassas and Prince William are looking for – and expect – an improved quality of life that includes arts participation opportunities.
Quantitative Economic Impacts
The development of the Hylton Performing Arts Center will create a series of positive economic impacts for the City, County and Commonwealth. All of these impacts are subject to a “multiplier” effect. The multiplier refers to the impacts of spending associated with the construction, operations and activity around the Center. This spending, and then the re-spending of those dollars, adds value to the local economy. The size of the multiplier reflects how much of a given expenditure is likely to be reinvested within the City and the County, as well as how many times those funds are recirculated throughout the local economy.
Impact of Construction
The one-time economic impact of people, materials and services to build the Center:
$41.5 million
Impact of Annual Operations
The annual impact -of local jobs created, materials and services purchased locally for the ongoing operation of the Center:
$2.7 million
Impact of Annual Ancillary Spending
Money spent on tickets and the economic impact on goods and services providers that cater to the additional activities of those ticket purchasers (dining, overnight stays, etc.):
$4.1 million
Fiscal Impact On Local and State Government
It is conservatively estimated the 163,000 people will attend performances and activities in the Center in its first full year of operation. These attendees will annually generate the following new tax revenue:
City/County: $187,000
State: $350,000
Total annual economic impact on City, County and State:
$6.987 million
$70 million over the first decade of the Center’s operation